Every market boom has a few hangers-on, and the rapidly fizzling craze for SPAC deals is no different. Those who forge on through the market’s final throes are taking a big risk, write TheRealLSL and jennifersaba:
A year ago, the Freightos deal would have been unremarkable. The company’s idea of providing an online platform for booking and paying for cargo is solid enough. The freight industry is antiquated and ripe for disruption, and Freightos wants to help provide visibility and ease. Last year it had revenue of $17 million, though it expects booking on its platform to more than quintuple by the end of 2023.
As a result, the SPAC market’s push towards being a legitimate alternative to initial public offerings is
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