- jcapaldi/ Youtube
Google is investing in privately-held communications startup Symphony at a valuation of about $650 million, according to The Wall Street Journal.
That would have Google joining 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.
In July, The Wall Street Journal reported on the startup’s fundraising, saying it was seeking a valuation of $1 billion.
Among the other investors in Symphony: BofA Merrill Lynch, BNY Mellon, BlackRock, Citadel, Citi, Credit Suisse, Deutsche Bank, JPMorgan, Maverick, Nomura and Wells Fargo.
Google takes stake in messaging startup Symphony Communications in fundraising round that values it at $650M – Dow Jones, quoting sources
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