Bakkt

Valuation $2B

About Bakkt

Bakkt is a trusted digital asset platform that enables its customers to buy, sell, spend, send, and redeem digital assets.
Headquarters Bakkt, Alpharetta
Founded 2018-01-01
Industry Cryptocurrency, Financial Services, FinTech, Loyalty Programs
Last Funding Type Post Ipo Equity
Valuation 2
Total Funding $857.50 million dollars
IPO Status Public

Financial

Bakkt has experienced a mix of financial and operational changes. The company received approval from the US SEC to raise $150 million in capital, and it announced a $40 million registered direct offering with institutional investors and a $10 million concurrent registered direct offering. However, Bakkt has also faced financial challenges, warning that it might not be able to remain in business and stating it is running out of cash. Additionally, Bakkt was notified by the NYSE of non-compliance with trading share price listing rules. The company reported its fourth quarter and full year 2023 results, and it has undergone leadership transitions, including the appointment of a new Chief Commercial Officer.
Bakkt Holdings Inc. is considering a potential sale or breakup amid various strategic options. The company has also announced job cuts, reducing its non-call center staff by 13%. Additionally, Bakkt has launched BakktX, an electronic communication network for cryptocurrencies, using technology from Crossover Markets.
Funding Rounds 4
Number of Lead Investors 5
Total Funding Amount  $857.50 million dollars
Number of Investors 18

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