Quikr valuation down by 45%

https://tech.economictimes.indiatimes.com/news/internet/swedish-investor-lowers-quikr-valuation-by-45/74184286

Quikr valuation is down by 45% to about $570 million from more than $1 billion as of September 2019 by Kinnevik, the Swedish investment firm (owns 17% in Quikr).

Kinnevik notes that the reduction in Quikr’s worth is due to the company “reducing its footprint”. Additionally, it changed methodology of valuation from discounted cash flows to net revenue multiples “linked to the trading of its publicly listed peers”, besides the fraud, Kinnevik executives said in an analyst call.

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