© Reuters. FILE PHOTO: Florian Reuter, CEO of German startup Volocopter, speaks to the media in Singapore
By Supantha Mukherjee and Anirban Sen
STOCKHOLM (Reuters) -“I get an electronic mail virtually each morning from some SPAC vendor telling me to do a SPAC with them,” stated Johnny Boufarhat, CEO of Hopin, a digital occasions platform. “It is attention-grabbing, however it additionally does not make sense for us.”
As an alternative, Boufarhat stated he desires his London-based firm, which is valued at $5.65 billion, to be prepared for a standard preliminary public providing (IPO) later this 12 months or in 2022.
Hopin is one in every of a number of main European startups, additionally together with Europe’s most dear fintech startup Klarna, that informed Reuters they’re steering away from SPACs, or special-purpose acquisition corporations, the new new methodology of floating an organization that has taken the American tech world