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WANdisco (Cirata)

Enterprise softwareUK
📉 Public < $1B
Peak $1.2 BillionToday
~-93%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $1.2 Billion ’23
  3. 💔
    Became a Unitard
    2023
  4. 💸
    Last valuation
    ~$84M
Current status
Shares collapsed ~93% in 2023 after a fabricated-sales fraud; rebranded Cirata, now a micro-cap on London's AIM

How it happened

WANdisco was a British data-replication software firm on London's AIM whose shares neared a £1bn (~$1.2B) value in early 2023 ahead of a planned US dual listing. The boom evaporated when it discovered a senior sales employee had fabricated purchase orders — 2022 bookings restated from $127M to about $11M — and the suspended stock collapsed from 1,310p to around 50p when trading resumed in July. Glassdoor reviews captured the whiplash inside: employees who had raved about the four-day-week culture described being stunned that one salesperson's fabrications and thin sales oversight could do so much damage, then layoffs and real doubt the business would pull through. It raised emergency funding and rebranded as Cirata.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.

Source: BusinessCloud / AccountingWEB / Yorkshire Post (UK data-replication software on London's AIM; market cap neared £1bn (~$1.2B) in early 2023 ahead of a planned US listing; a senior salesperson faked ~$115M of bookings; shares suspended Mar 2023, resumed Jul 2023 down from 1,310p to ~50p; rebranded Cirata)

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