BitGo considers initial public offering in 2025 - report
Investing.com -- Palo Alto-based crypto custody company BitGo Inc. is contemplating an initial public offering (IPO) in the second half of this year, Bloomberg reported, citing sources close to the matter. This move comes amidst a surge of cryptocurrency firms expecting increased regulatory support for their plans.
The company, valued at $1.75 billion during a 2023 funding round, is currently in discussions with potential advisors for the listing. This information, however, remains confidential as the individual sharing it requested anonymity.
In 2023, BitGo secured $100 million from new investors, including Goldman Sachs Group Inc (NYSE: GS )., DRW Holdings, Redpoint Ventures, and Valor Equity Partners. This was revealed in a statement made in April of that year.
Previously, in 2021, a deal for BitGo to be acquired by Novogratz’s Galaxy was called off. Despite this, the company continues to explore opportunities and strategies for growth, with the proposed IPO being the latest development.
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