tech
Odoo tops €7 billion valuation as General Atlantic increases stake
Belgian business software company Odoo, also a unicorn, has reached a fresh milestone. Growth investor General Atlantic has increased its stake in the firm, buying additional shares from regional backer Wallonie Entreprendre and pushing Odoo’s valuation to roughly €7 billion.
TL;DR
- General Atlantic increased its stake in Odoo, a Belgian business software company.
- Odoo's valuation has risen to approximately €7 billion.
- The transaction was a secondary deal where General Atlantic bought shares from Wallonie Entreprendre.
- Wallonie Entreprendre retains about 3% of Odoo's shares.
- Odoo offers an integrated suite of business applications used by SMEs.
- The company utilizes an open-core model with nearly 40,000 add-on apps.
- Odoo has over 170,000 paying customers in approximately 180 countries.
- Newer versions of Odoo's software include AI-infused features and automation tools.
- The development highlights a trend of secondary share deals allowing companies to stay private longer.