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IRL, founded in 2017 and based in Berkeley, California, developed an event discovery and planning application that allowed users to explore social groups' event calendars and share plans via a social app. The company aimed to provide personalized event recommendations and facilitate group event participation across web and mobile platforms.
Throughout its existence, IRL successfully raised $197 million in funding, with notable investors including SoftBank, Dragoneer Investment Group, and Founders Fund. The company reached unicorn status in 2021 with a reported valuation of $1.17 billion during its Series C funding round.
However, in June 2023, IRL ceased operations following evidence that its user counts were fraudulent. This development has significantly impacted the company's prospects, including any potential plans for an initial public offering (IPO).
Given the current circumstances, there is no reliable information available regarding IRL's IPO prospects. The company's closure and the issues surrounding its user data have likely put any previous considerations of going public on hold indefinitely. Investors interested in the social networking and event planning sector may need to explore alternative opportunities in the market.
We at Linqto strive to provide accurate and up-to-date information about private market investments. While IRL is no longer an active company, we continue to offer access to shares in other promising private companies across various industries.
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*Terms and conditions apply. See details
While IRL's IPO prospects remain uncertain, investors eager to gain exposure to promising social networking companies don't have to wait. At Linqto, we offer members access to interests in pre-IPO private companies, including potential leaders in the social media and technology sectors. Our platform allows you to diversify your portfolio with lower minimum investments, potentially benefiting from the growth of emerging industry innovators before they go public.
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.
