Source: Bloomberg
Summary
Iroku Capital, the owner of Care.com, is reportedly seeking new funding that would triple the company’s valuation to around $3 billion. This round would double the house-help startup’s valuation in a matter of weeks, according to people familiar with the matter. The funding would help Iroku expand its business and make more acquisitions.
Our Reading
The announcement sounds ambitious. Iroku Capital is seeking a valuation tripled to $3 billion, doubling the house-help startup’s valuation in weeks. Care.com’s owner is looking to expand and make more acquisitions. Because what every successful startup needs is more funding to do what it’s already doing. This isn’t a growth strategy, it’s a growth headline.
Author: Evan Null
