Ziglu investors set to lose out after Robinhood slashes firm’s value

08/19 15:11

According Protos,Robinhood agreed to buy Ziglu for $170 million back in April but now, due to a “shift in market conditions” and citing recent failures, including Celsius, Voyager, and BlockFi, the Menlo Park firm has slashed its offer to just $72.5 million.According to Ziglu founder Mark Hipperson, if Robinhood does indeed pull out of the previously-agreed deal, the company would be left facing an “extremely challenging market, and undercapitalized for the period ahead,” (our emphasis).
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