Investing.com - Financial Markets Worldwide
NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Messaging platform Symphony seeks more funding: WSJ

Published 2015-07-26, 06:08 p/m
Messaging platform Symphony seeks more funding: WSJ
TRI
-

By Mike Stone
July 26 (Reuters) - Symphony Communication Services LLC, an
instant messaging software company backed by Goldman Sachs Group
Inc. GS.N and other finiancial institutions, is seeking
additional funding that could value the startup at up to $1
billion, the Wall Street Journal reported on Sunday.
Palo Alto, California-based Symphony is approaching
venture-capital funds and financial institutions to probe for
interest in investing in the secure instant messaging platform,
according to the WSJ report.
Citing unnamed sources, the newspaper said Symphony is also
soliciting additional funds from its existing financial backers.
Last year, 14 investment banks formed a consortium to invest
$66 million in Symphony. At the time of that investment, the
company said it expected those financial institutions, which
included Morgan Stanley, MS.N JPMorgan Chase & Co, JPM.N
BlackRock Inc BLK.N and Goldman Sachs, to be early adopters of
the technology.
Many finance professionals communicate with colleagues,
customers and peers over secure instant messaging platforms such
as Symphony.
A deal for the funding is not imminent, the report said.
In April, Tom Glocer, former chief executive officer of
Thomson Reuters Corp TRI.TO , joined Symphony's board of
directors as an observer.
A Symphony representative did not immediately respond to a
request for comment on Sunday.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.