R3, which is a blockchain software enterprise leading a consortium of 200+ members is apparently thinking about launching an Initial Public Offering (IPO). The news came from a report on Bloomberg yesterday.
Bloomberg was in talks with a source familiar with this issue, receiving information that R3 is planning an IPO with its advisers. Apparently, many potential investors are interested in the sale.
However, it is up to the founder and CEO of R3, David Rutter, to make things official. According to a recent statement by the company:
“We’re not surprised about the speculation given the success of Corda, but an IPO is not a path we’re pursuing at this time. Our mission from the start was to deliver a blockchain solution for the widest possible business community, and any decision we make will have that goal in mind.”
The New York-based R3 is considering the options following the growth and development of the blockchain software market. According to a research conducted by Deloitte in May 2018, even 30% of the financial executives participating in a survey said that they “plan to commit resources to blockchain in the following year and a half” while 33% of them said that they are “ready to implement the technology.”
R3 was in the news last month when some of the former employees told Fortune that their internal financial targets are “10 times short” than their revenue. Still, the managing director of R3 denied these rumors and said that the company has “more than sufficient funding and no plans to raise additional money.”
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