June 25, 2024

TechCrunch

SumUp’s valuation falls as low as $4.1B, as Groupon and others sell off their stakes

Adyen lost $13 billion in market cap last month when investors scrambled to sell shares after the payments company missed quarterly revenue targets. Shares in SumUp, a privately-held European payment technology business that focuses on point-of-sale transactions, are currently are being sold in inside sales (to other existing investors in the company) at a valuation that might be as low as $4.1 billion — a drop of nearly 52% on SumUp’s previous valuation of $8.5 billion, achieved when it raised $624 million in June 2022. Several of SumUp’s investors are selling off shares, but the news was made public by just one: Groupon, which is traded in the U.S. on Nasdaq, disclosed the transaction in an SEC filing.

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