Odoo tops €7 billion valuation as General Atlantic increases stake
Belgian business software company Odoo, also a unicorn, has reached a fresh milestone. Growth investor General Atlantic has increased its stake in the firm, buying additional shares from regional backer Wallonie Entreprendre and pushing Odoo’s valuation to roughly €7 billion. This move isn’t a typical funding round where a company raises new capital. Instead, it’s a secondary transaction: General Atlantic bought existing shares that were previously held by Wallonie Entreprendre, the investment arm of Belgium’s Walloon region. After the deal, Wallonie Entreprendre still holds about 3 % of the company. Odoo was founded in 2002 in Belgium and has grown steadily…This story continues at The Next Web [...]
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