Simba nightmare as mattress start-up’s value crashes to £20m

Shareholders in the online mattress retailer promoted by Gareth Bale are facing a nightmare after the company’s valuation was slashed to just £20m in a bid to secure new funding.

Sky News has learnt that Simba Sleep, one of Britain’s most hyped start-ups, has been forced into a radical restructuring of its latest funding round.

The company finalised proposals on Monday to raise £10m at a valuation of just £20m – one-fiftieth of the prospective £1bn price tag that one of Simba’s founders said it could be worth within the next couple…
Read more posts United Kingdom or read the original


This content was imported with an automated system, without human intervention. You can report the removal of content by first reading our Legal Disclaimer