Palmer Luckey-Backed Erebor Raises Stakes in Race to Become Tech’s Next Big Bank
Erebor is in late-stage discussions to secure about $1.5 billion in fresh capital at an $8 billion pre-money valuation.
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Why It Matters
A new tech company called Erebor is trying to raise a huge amount of money to become like a bank for tech people. When companies raise big money at high prices, it shows people believe in their idea, but it doesn't tell us yet if the business will actually work.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
Disclosure: Educational and informational purposes only — not financial advice. We educate, not advise. Market data may be delayed up to 15 minutes unless marked real-time. Past performance is not indicative of future results.