UK Gov Drops £25M on Kraken to Sweeten a London IPO 👀
The British government, through its British Business Bank, is pumping £25 million into
#Kraken – that’s the tech spin-out from Octopus Energy. The idea? Help this fast-growing company stick around in the UK and maybe choose London for its stock market debut in the next year or so, instead of heading to places like New York. Kraken’s already a beast, valued at over $8.6 billion, with millions of customers and revenue that’s doubled recently. The investment’s part of a bigger £125M push into tech, AI, and life sciences. No hard rules forcing a UK listing, but the business secretary hopes it’ll happen naturally because London’s got what it takes. Greg Jackson, Octopus’s boss (and now a gov advisor), says it’s up to shareholders, but he’d lean London.
I think this is a clever play by the UK – throwing some cash at homegrown tech stars like Kraken could help fight the brain drain to the US markets, especially after
#Brexit made things trickier. It’s not a “bribe” as they say, but let’s be real, it’s a nudge. If it works, great for jobs and the economy; if not, at least they’re trying bolder moves instead of watching talent bolt. Kraken’s growth numbers are nuts, so yeah, worth betting on.
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