Smart money app Snoop has enlisted bankers to explore potential sale
IN BRIEF:
- Rotschild will assist with plans for a potential sale or further capital raise
- Sky reports that Snoop has previously received several takeover approaches
- The company has already raised a £15m Series A and £10m in crowdfunding
What does this mean?
The Snoop app has been installed more than 1.2 million times but Sky reports that the company needs up to £10m of new investment in order to break even.