Wasoko Now Valued at $260 Million After VC Slashes Stake
This is happening just months after the nine-year-old startup closed a $125 million Series B investment.
African B2B e-commerce giant, Wasoko has just seen its value drop to $260 million after one of its major stakeholders, VVN Global slashed the value of its holding in the company by 48% according to its annual report for 2023.
VVN Global, a Swedish investment firm known to back startups in mobility, health, and marketplaces has in its annual report set Wasoko's value at $260 million as of December 2023 which is based on its 4.2% stake in the startup, which it values at $10.9 million.
In the fourth quarter of 2022, it valued Wasoko at $501 million, just months after the nine-year-old startup closed a $125 million Series B investment co-led by Tiger Global and Avenir at a $625 million valuation.
According to VVN Global, a fair value estimate should be attributed to a valuation model based on trading multiples of public peers rather than historical funding rounds.
