logo
welcome
CNBC

CNBC

Alphabet's VC arm backs little-known SAP rival Odoo, boosting valuation to $5.3 billion

CNBC
Summary
Nutrition label

77% Informative

Odoo, a Belgium -based company that develops open-source enterprise resource planning software, boosted its valuation to 5 billion euros ( $5.3 billion ) in a secondary share round led by CapitalG and Sequoia .

Odoo had billings of 370 million euros last year and is on track to top 650 million of billings in 2025 — after that, the company is hoping to top the 1 billion-euro billings milestone by 2027 .

Even after selling a portion of its shares, Summit remains Odoo 's largest institutional shareholder. Pinckaers himself has never sold his own personal shares..

VR Score

85

Informative language

87

Neutral language

90

Article tone

semi-formal

Language

English

Language complexity

50

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

Affiliate links

no affiliate links