Report: Blockchain Startup ConsenSys Seeks $200 Million From Outside Investors
Ana Alexandre's original article for cointelegraph.com reduced by 51%
New York-based blockchain company ConsenSys is reportedly seeking investors to raise $200 million, technology media outlet The Information reported on April 15.According to sources familiar with the matter, ConsenSys is trying to attract outside investors to raise $200 million. The company's executives reportedly talked to investors in Hong Kong and South Korea, however as of early April ConsenSys had purportedly not yet found a lead investor. Per the documents, ConsenSys is planning its revenue to be more than $50 million in 2019, with around $40 million coming from its services business.
The documents reportedly reveal that ConsenSys has a considerable share in blockchain companies that it has incubated. ConsenSys has reportedly been seeking a valuation of at least $1 billion, which The Information reports is too high, given the company's revenue and investors. Last December, anonymous sources stated that ConsenSys could lay off up to 60 percent of its staff as the blockchain space had become more competitive and "Crowded." The company was reportedly spinning out startups it had previously backed, some of them without financial support.
When asked about signs of crisis in the blockchain industry and criticism of ConsenSys not being able to deliver on its promises, Grellet said that she still sees huge interest in blockchain technology.
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