Overview

• Octopus confirmed Kraken’s separation and said Goldman Sachs will market a minority stake in the newly independent company.
• Tim Wan, formerly CFO at Asana, was appointed chief financial officer of Kraken.
• Kraken reports about $500 million in committed annual licensing revenue and contracts covering more than 70 million customer accounts.
• The platform is licensed by major utilities and providers including EDF, E.ON Next, National Grid US, Tokyo Gas, Origin Energy and Plenitude.
• Reports cite a prospective valuation in the $10 billion to $15 billion range and suggest an IPO could follow within a year, though timing and terms remain unconfirmed.