Is blockchain software company R3 considering an initial public offering? Bloomberg, citing unnamed sources, says yes but the company says no.
Bloomberg reported R3 is speaking with advisers about a possible IPO and that it had been approached by a potential buyer. The company denied the IPO in the article but didn’t address talk of an acquisition.
“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,” according to the company.
R3 claims its Corda and Corda Enterprise open-source, distributed ledger platforms allow organizations from a broad cross-section of industries to execute transactions and share data faster, more easily and transparently. Earlier this week, R3 announced Corda Enterprise, the first commercially available version of its Corda platform, was live. R3 Enterprise features a built-in firewall to add security and support functions for large, complex organizations for which it is targeted.
Last year, R3 raised $107 million from such major tech and financial services brands as Intel, Bank of America, Merrill Lynch and HSBC. It is currently partnering with more than 200 organizations, including Microsoft and Wells Fargo. Read more here.