Stryda to Shut Down

Stryda to Shut Down

Drama

29 December 2023 18:46

Swedish platform Stryda is shutting down. The company secured $100m investment over the years. Styrda announced bankruptcy on December 15th. The news states that the company laid off more than 120 employees recently. The sources state that Styrda aimed for an acquisition however the buyers withdrew from negotiations. Stryda CEO Johan Persson stated “We have presented the case to over 100 financial and strategic investors and buyers. We got very far with some, and we have always felt that it was close. But this week we received a no in a lengthy process, which led to the board making this decision.”

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