£9 and change a share I don’t think so.
As long as they sell at 1B valuation we will all be happy!
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Yeah the article seems to have been updated now, £700M seems to be a reference to the lack of ability to raise VC funding that this level
Urgh… got my hopes up there for a second
We wait and see…
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Do we have the rights to reject the poor deal, if at all it happens! There could be vultures lurking around for shady deals
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Hopefully it doesn’t become a robinhood + ziglu situation 
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Surely the opportunity to buy the whole business would be at a premium to any funding round. 1 billion sounds like a pipe dream, but the previously attempted £700 million raise sounds like a good deal all round. Forcing myself to be positive here
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Still…ziglu was bought for like 85x time revenues …
700m was a valuation from another time and place that doesnt exist anymore, things have moved on in the world and especially in financial markets there is no reason freetrade wont be worth that much or more in the future but you have maybe 18 month to 2 years of cash burn till things turn around.
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I do hope freetrade is bought out. It would be the best way for us it’s customers to have the security and stability we are looking for a platform to have.
I do hope the successful buyer is anyone else but monzo though. I have my reasons and I’ll leave it there.
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Well, I have written my R7 investment off as the worst deal I ever made, so any money is better than none 
Will be interesting to see what happens and if I/we need to transfer to a new company if the eventual buyer changes the company much.
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Yeah £700M is a pipe dream…I’d be happy with any deal over £350M and that would make a lot of crowd investors very well off.
I still think the most likely outcome is they get funding for Series C at a heavily discounted valuation to R7.
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https://images.app.goo.gl/WEyT6j8FZYhbcYDLA
I am under the impression market sentiment is on the capitulation stage. But I’m always wrong so…
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If Freetrade do get bought out, we’ll know the market has bottomed or is imminently bottoming that’s for sure. Great buy signal for stocks in general! Freetrade is just unbelievably bad at timing anything.
Do think people are getting carried away with pessimistic valuations though. For a well capitalised company such as JP Morgan happy to invest a few hundred million into the business over a few years, £500 million I think is cheap for a full buyout. It might not profitable yet, and have a lot of technical debt etc, but it’s a great brand, 1.4 million customers in UK is no joke, and with EU wide licence, plenty of room to grow if it can get the capital it needs.
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JPMorgan makes some sense with its purchase of nutmeg and roll-out of Chase in the UK. I’d agree that £700m seems fanciful and I think they may be lucky to get half that.
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Anyone have further update on the revenues? I think I saw GBP15m at the last raise… hard to envisage a GBP700m off that…
It might be a case that freetrade may be able to secure funding to keep going without selling.
The issue freetrade has it needs to start expanding quicker into europe as that will increase revenue and they need to start offer more euro stocks as that is where they can make more money on the exchange rate although personally I use a competitor for US and EU stock as the exchange fee is slightly lower than freetrade’s fee although they are newer so not as many stocks on there yet but so far all the US ones i want are
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I hear you but it’s totally unrealistic to think you’d hear anything whilst commercial discussions / negotiations are potentially in progress. We will hear when they are ready.
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Remembered this post from the last funding round - not often I make the right choice when it comes to crowdfunding but something about the last pitch just didn’t sit right - regrettably this may be the exception to the rule…
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Molten Ventures and Left Lane Capital are no mugs. If there is a buy out you can be guaranteed it will be touching £1 billion. If they are not close to that then they will provide more cash and have an IPO in 2024
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I hope you are right, Did they invest at the R7 price? they won’t want to make a loss. Having said that their business model does expect a certain percentage of their investments to lose money so who knows?
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