Google is reportedly backing privately-held communications startup Symphony, with a valuation of about $US650 million, according Dow Jones.
That would have Google investing alongside a cadre of Wall Street banks including Goldman Sachs, Jefferies and Morgan Stanley in backing the newly-developed tool for traders that is out to dethrone Bloomberg LP’s chat tool.
Business Insider reached out to Google and Symphony; neither could immediately comment for the record.
While Google’s investment in Symphony, if true, would mark a new turn in the startup’s development, it also appears to be at a valuation lower than what the company sought — if prior reports are accepted as true.
In July, the Wall Street Journal reported on the startup’s fundraising, saying it sought a valuation of $US1 billion.
Google takes stake in messaging startup Symphony Communications in fundraising round that values it at $US650M – Dow Jones, quoting sources
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