Crayon announced its intention to float on the Oslo Stock Exchange last October. At the time, the firm said the public offering would allow it to free up NOK 300m (€32m) in gross proceeds to fuel its future growth strategy.
In a recent article with Channelnomics Europe, Rune Syversen commented on Crayon’s first few months as a public company. Syversen said that it hasn’t all been plain sailing, claiming that several top Microsoft partners took a hit in Q4 of 2017.
“I think we took a small hit together with some of the large Microsoft partners in Q4, which was slightly disappointing to the market. As a result, the stock price has dropped quite significantly and, for investors, that has caused some pain. But investors understand this is a more long-term investment based on the stock price right now. Both myself and my co-founder have acquired more stock because we are pretty bullish about the future and the outlook of the company,” he said.
Crayon was almost completely Microsoft-centric around eight to nine years ago, but has since diversified its portfolio to include other hyperscaler giants AWS and Google.