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Is blockchain startup R3 in play already?

June 22, 2018
by Nicky Morris
cheetah chases gazelle
Two weeks ago Fortune published a negative story about enterprise blockchain company R3. In response, yesterday Forbes published an article which revealed revenue figures supplied by CEO David Rutter. The net effect of these articles may be to highlight R3 as a potential acquisition candidate.
Revenue
The Fortune article quoted a former R3 staffer as saying revenues were “10X short”. According to the Forbes rebuttal, sales through to April were 13% below budget though they didn’t provide a precise figure. That’s presumably January to April. The target for the year is just over $20 million, and Rutter expects to miss that by about 10%. So income will be 10% short rather than ten times off.

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