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    Ledger shelves U.S. IPO plans as crypto market conditions deteriorate
    Cryptocurrency

    Ledger shelves U.S. IPO plans as crypto market conditions deteriorate

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    8 Comments

    3. DailyUpsAndDowns on

      Launch the IPO at $0.01 It sounded stupid to begin with. There aren’t enough Ledger customers or fans to make it worthwhile. I think Ledgers ego might be a little much

    4. Choice_Potato_6279 on

      I’m surprised Coinbase is such an overpriced turd, not to mention some crappy hardware wallet company with a more niche product than butt plugs, I wouldn’t buy them even at $1m marketcap how things are going in crypto.

    6. infernal_celery on

      Reading the article, it seems to be more like share price concerns. Public equity markets aren’t seen as a valuation growth play anymore, whereas in private capital you get some say on your own share price. Big deal if your top tier personnel are rewarded in share options and bonuses, or have their boardroom pay linked to valuation of the company – or if your company has borrowed money from banks and wants to retain a decent gearing.

      Realistically though if the numbers are right and it has $100m in revenue then a $4bn equity flotation seems pretty punchy. That good old 40x P/E ratio that screams “fair value”… /s

    7. MartinEdge42 on

      the ‘market conditions’ framing is mostly cover for the fact that hardware wallet TAM is shrinking. retail moved to exchange custody + multisig, institutions use qualified custodians, and CT-savvy users moved to seedless mpc wallets. ledger has a clear product but its addressable market peaked 2-3 years ago