I just checked out the app. It shows you how many lykke coins corresponds to which share in the company. According to this the valuation is 100.000 BTC which in my opinion is too high compared to other crypto-currencies. Especially because it is still in an early stage.
Is Ripple or Ethereum early stage? Ethereum is valued at 1B$ and its arguable alpha software (I think they would admit that themselves). Since Lykke is building on Bitcoin/Ethereum, we have the advantage of relying on that blockchain and focus on other things rather than underlying blockchain algorithms. A similar venture got headline in the biggest financial newspaper in the world a few weeks ago just for announcement together with UBS - no product, no whitepaper. Obviously we're biased, but we think the 55M$ is a good valuation to buy at, before this goes into the major public. But we're more focused on product than marketing, so it might take 3-6 months before major outlets notice.
Edit: after discussion.