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Evening Standard
Evening Standard
Business
Simon Hunt

Legal tech firm Farewill sees value written down more than £50 million by shareholder Daily Mail

Daily Mail DMGT Standard Plum Pandemic PitchBook

Legal tech firm Farewill has seen its valuation slashed by more than £50 million by one of its major shareholders, the Standard has learnt, amid growing signs European tech firms are struggling to hold on to the heady valuations they attracted during the height of the pandemic.

Media company Daily Mail and General Trust (DMGT) cut its estimate of the value of its 4.3% stake in Farewill by two-thirds, accounts filed with Companies House today show, implying a valuation drop from £86 million to £30 million.

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