Newport Global Summit Held By Rainmaker Securities Representative, Katharine Cushing, Connects Investors And Entrepreneurs

NEWPORT, R.I., Aug. 16, 2017 /PRNewswire/ -- Rainmaker Securities, LLC, member FINRA/SIPC, is proud to announce that one of our registered agents, Katharine Cushingof 7Sisters, LLC, is hosting the Newport Global Summit on August 16-17, 2017. The Newport Global Summit is a leadership retreat that has been held at the Pell Center for International Relations and Public Policy since 2009.

"The Summit is intended to be like Davos at its infancy, encouraging active collaboration among the participants to facilitate new business relationships," says Founder, Katharine (Kitty) Cushing, Managing Principal of 7Sisters, LLC.

Successful entrepreneurs, notable investors and family business enterprises from around the world will gather for a two-day leadership forum to share knowledge and explore possibilities for economic prosperity. Speakers include:

  • Glen Anderson, Founder and President of Rainmaker Securities, a leader in secondary transactions for late stage private securities.  Each year Rainmaker Securities facilitates hundreds of secondary transactions over dozens of late-state equity issuers.
  • Richard Beleutz, Managing Partner of Alternative Investment Resource; on the topic of investing in life settlement assets.
  • Sharon Daniels, CEO of ARRIA NLG, partner to IBM Watson, and leader in NLG (natural language generation) technology, the keystone of Artificial Intelligence.  Sharon is co-founder of Diligent, a U.S. based SaaS company that listed on NZX in 2007 and recently sold to Insight Venture Partners for U.S. $624 million.
  • John LeBoutillier, nationally recognized political commentator and former U.S. Congressman.
  • John Messervey, Private Advisor to America's Leading Families, President of National Family Business Council.
  • Kevin Raidy, Managing Director of Cowen, Inc., a leading equity underwriter for life sciences, biopharmaceutical and healthcare companies.
  • Joseph A. Stanislaw - co-founder and former president of Cambridge Energy Research Associates, an energy research consultancy that was acquired in 2004 by IHS Energy.

About 7Sisters, LLC

7Sisters specializes in fostering and developing relationships between U.S. companies with international partners, helping U.S. companies and family enterprises broaden global business relationships. With more than 90% of economic growth now occurring outside of the U.S., it is critical for businesses and families to adapt to a global business world.

SEAN CLEMENS OF RAINMAKER SECURITIES & PARK LANE ADVISORS - WINNER OF THE 8TH ANNUAL EMERGING LEADERS AWARDS

LOS ANGELES, Aug. 14, 2017 /PRNewswire/ -- Rainmaker Securities is pleased to announce that The M&A Advisor has chosen Sean Clemens as one of the winners of the Emerging Leaders Awards. The Annual M&A Advisor Emerging Leaders Awards was born as the 40 Under 40 Awards in the United States in 2010 to recognize and celebrate the achievements of young M&A professionals.

Sean is Senior Vice President of Sports Investment Banking at Park Lane Advisors and registered agent of Rainmaker Securities. Clemens joined Park Lane in 2009 and plays a principal role in the firm's financial analysis, due diligence, document preparation, and research. Through Rainmaker Securities, Sean facilitates transactions between buyers and sellers of equity and debt, having worked on transactions across all major American sports leagues, minor leagues, European soccer, and spanning a wide range of sports-based businesses. He is an active participant on the firm's deal review team, evaluating potential engagements including capital raising transactions, mergers and acquisitions, and restructurings. Clemens is a key contributor to Park Lane's valuation practice and liaises with the firm's broker dealer to manage compliance efforts. He has authored several SportsBusiness Journal articles and sports industry white papers on behalf of Park Lane. Clemens is a graduate of Cornell University, where he earned a B.A. in Economics and Spanish.

"It is an honor to be recognized by The M&A Advisor as an Emerging Leader in the Dealmaker category," said Clemens. "I am extremely humbled to be named alongside so many accomplished corporate finance professionals on this year's list. This achievement is a reflection of our outstanding team at Park Lane, and it speaks to our mission to work on great deals and deliver results."

To view the complete list of this year Emerging Leaders Award Winners, click here.

RAINMAKER SECURITIES M&A

Rainmaker Securities is an exclusive merchant banking platform founded with the vision to help private issuers of equity and debt raise capital and find exits. We advise corporate private issuers on sale preparation, and run sale processes for private companies seeking exits via M&A. We provide our broad base of strategic/corporate investor clients with a selective and well vetted portfolio of unique acquisition opportunities. Rainmaker Securities, LLC is a FINRA registered broker-dealer and member of SIPC.

Industry News Update – Week of 8/14/2017

Last week, WeWork, SoFi and Uber were involved in lawsuits pertaining to trademark infringement, termination of employees due to sexual harassment claims and management misconduct impacting the selection of board of directors respectively. WeWork pursued litigation against UrWork, Chinese company that provides co-working space for startups, for trademark infringement.  SoFi was sued by one of its employees claiming that he was fired from the company for reporting instances of sexual harassment. Uber is being sued by one of its early investors, Benchmark, since Benchmark claims that Travis Kalanick was erroneously given the power to select the Uber’s board seats given his actions of fraud and breach of contract.  

23andme is working with The Milkin Institute and Lundbeck to conduct a large online study to assess how genetics impacts depression and bipolar disorder. 

Didi Chuxing invested an undisclosed amount of funding into Careem, Uber of the Middle East, to expand its international presence. 

Lyft and WeWork both acquired companies to drive customer growth and promote sales initiatives. Lyft acquired DataScore, a marketing campaign strategy company, and YesGraph, a machine learning company that analyzes end-users to increase referrals, in order to increase customer acquisition by bolstering retention efforts and its referral program. WeWork bought Unomy, a sales and marketing platform, to increase its sales efforts with enterprise customers. 

Palantir’s platform is being used by police officials to identify traffic and parole violations and to analyze digital records databases to find connections between crimes.

The news articles and links presented below are available for your reference.

23ANDME

"23andMe Launches Large Study on Depression, Bipolar Disorder"

DIDI CHUXING

"China’s Didi Backs Uber Rival Careem to Expand its Global Footprint Into the Middle East"

LYFT

“Lyft Acqui-hires DataScore and YesGraph to Fuel Customer and Driver Growth"

PALANTIR

"How Peter Thiel's Secretive Data Company Pushed Into Policing"

SOFI

"SoFi Is Being Sued by an Employee Claiming He Was Fired for Reporting Sexual Harassment"

UBER

"Benchmark Sues Former Uber CEO Travis Kalanick"

WEWORK

"WeWork Acquires Israeli startup Unomy to Boost its Enterprise Sales Efforts"

“WeWork Starts Legal Action Against Rival UrWork Over Trademarks"

 

Industry News Update – Week of 8/7/2017

Last week,  Didi Chuxing invested funds into Taxify, European ride sharing company, to expand its international presence.

Grab released its new GrabNow app that is expected to make its ride sharing transactions cashless.

Flipkart successfully merged with eBay India and received $500 million from eBay. As part of the deal, eBay will obtain equity in Flipkart.

Prosper is closing a $50 million funding round. The company’s latest valuation was $550 million which is a 70% decrease from its last round valuation.

SoFi’s CEO announced that the company’s IPO is expected soon after revealing SoFi’s Q2 2017 financials of $134 million in revenue and $61.6 million in EBITDA.

Spotify surpassed 60 million paying subscribers on July 31st.

The news articles and links presented below are available for your reference.

DIDI CHUXING

“Didi Chuxing to Invest and Partner With Uber's European Rival Taxify"

GRAB

“Grab Launches GrabNow to Encourage Taxi Drivers to go Cashless"

FLIPKART

“eBay Sells eBay.in Business to Flipkart"

PROSPER

“Fintech Lender Prosper's Valuation Dives 70% in Latest Funding Round"

SOFI

“SoFi Hints at IPO, Reports Record Results”

SPOTIFY

“Spotify Preps to go public With 60M Subscribers, Outpacing Apple"

Industry News Update – Week of 7/31/2017

Last week, Dropbox appointed Goldman Sachs to underwrite its upcoming Initial public offering.

The merger between Flipkart and Snapdeal has officially been terminated since Snapdeal’s board of director rejected the $900-$950 million purchase price from Flipkart.

Slack and SpaceX have been procuring funding. Slack is raising $250 million and its valuation is expected to rise to $5 billion. SpaceX's valuation rose to $21 billion once the company raised more than $350 million as part of its Series H funding round.

Stripe bought Payable, company that handles payments, tax and on boarding for contractors, to offer simplified tax reporting to its customers.

WeWork established a China-based business to quickly expand its presence in China.

The news articles and links presented  below are available for your reference.

DROPBOX

“Dropbox is Reportedly Inching Closer to a Potential IPO”

FLIPKART

“Flipkart’s On-off-on-off-on-off Deal to Acquire Snapdeal is Now Officially Dead"

SLACK

“Slack is Raising a $250 Million Round at $5 Billion Valuation"

SPACEX

“New Funding Round Values SpaceX at $21.2 Billion"

STRIPE

“Stripe Acquires Payable to Help On-demand Businesses Manage 1099 Tax Reporting''

WEWORK

“WeWork Launches Dedicated China Business Backed by $500M from Investors"

Industry News Update – Week of 7/24/2017

Last week, Coupang won a lawsuit against Korea Integrated Logistics Association that established Coupang is not a transportation business and therefore is not required to obtain a transportation license to operate in South Korea.

DocuSign's CEO announced the company expects to go public early next year.

Lyft opened a new autonomous driving engineering facility to support the development of its autonomous technology.

Spotify and Warner are in talks to sign a music streaming contract which is expected to be completed by September of 2017.

The news articles and links presented below are available for your reference.

COUPANG

“Coupang Wins Lawsuit on Rocket Delivery"

DOCUSIGN

“DocuSign Aiming for IPO by Early 2018, CEO Says"

LYFT

"Lyft is Now Building its Own Self-driving Technology, Which is a Big Deal"

SPOTIFY

“Spotify and Warner are Ready to Make a Deal on Music Royalties"

Industry News Update – Week of 7/17/2017

Last week, Coupang, WeWork and Grab have been procuring funding. Coupang is raising $500 million prior to its IPO which is being managed by Goldman Sachs. WeWork’s valuation rose to $20 billion once the company raised $760 million as part of its Series G funding round.  Grab raised $2 billion from Didi Chuxing and Softbank and is now valued at $5 billion.

Uber acquired Swipe Labs, photo sharing app, to further develop its drivers' earnings features which will improve its drivers' experience.

Uber also consolidated its Russian operations with Yandex, Russian search engine company, to create a new ridesharing entity that is valued at $3.7 billion.

The news articles and links presented below are available for your reference.

COUPANG

“Coupang Plans To Raise US$500m Funds Before NASDAQ Listing"

GRAB

“This Uber Rival Just Raised $2 Billion From Softbank And China’s Didi Chuxing"

UBER

"Uber Acqui-Hires Social App Studio Swipe Labs"

“Uber, Yandex Combine Ridesharing And Ubereats In Russian Markets In A $3.72B JV"

WEWORK

“Office-Sharing Start-Up Wework Gets $760 Million In New Cash"

Industry News Update – Week of 7/10/2017

Last week, Waymo dropped three out of the four patent infringement claims against Uber in its self-driving lawsuit. Waymo pursued this strategy in response to Uber ceasing use of its Lidar technology.

Lyft reached a major milestone on July 5, 2017 by providing one million daily rides.

Didi Chuxing participated in Ofo's 700 million funding round to establish presence in the Asia-Pacific shared bicycle market. Riding bikes is a popular means of transportation in the region and Ofo’s main competitor, Mobike, recently raised $600 million.

Spotify is piloting its new driving feature which makes the buttons on its user interface larger and allows users to control their music using their voice to make it easier to drive and listen to music.

Stripe has partnered with Alipay and WeChat Pay, which have cumulatively processed roughly $3 billion in 2016, to expand its presence in China.

The news articles and links presented below are available for your reference.

DIDI CHUXING

“Chinese Startup Ofo Raises $700 million as Bike-sharing Race Heats Up"

LYFT

“Lyft is Now Completing One Million Rides a Day"

SPOTIFY

"Spotify is Testing a Driving Mode Feature"

STRIPE

“Stripe Adds Support For Alipay and WeChat Pay, China’s Top Digital Payment Services"

UBER

“Waymo Drops Most of Its Patent Claims But Keeps Fighting Uber"

Industry News Update – Week of 7/3/2017

Last week, Blue Apron’s IPO took place on June 29th 2017 and the company’s shares opened at $10 on its first day of trading and have remained flat.

Dropbox is in the process of hiring underwriters for its upcoming IPO.

Prosper’s President, Ron Suber, resigned to pursue other opportunities.

Uber reached a major milestone on June 29, 2017 by surpassing 5 billion rides worldwide.

The news articles and links presented below are available for your reference.

BLUE APRON

"Blue Apron IPO Off to a Rough Start"

DROPBOX

“Dropbox is Reportedly Looking for IPO Underwriters"

PROSPER

"Ron Suber Departs Prosper Marketplace"

UBER

"Uber Crosses the 5 billion Trip Milestone Amid Ongoing Issues"

Industry News Update – Week of 6/26/2017

Last week, Uber's CEO, Travis Kalanick, resigned since several of Uber's investors wanted him to be removed due to the recent string of scandals. Travis will still remain on Uber's board of director following his departure as CEO.

Airbnb is launching a new premium service known as Select that will offer customers matching bedsheets, quality towels, tea and coffee for a more opulent lodging experience. This new offering will allow Airbnb to compete with hotels for customers.

SpaceX was able to launch two rockets (Iridium and BulgariaSat-1 satellites) this past weekend. SpaceX successfully launched a reusable rocket, which carried the BulgariaSat-1 satellite, and was able to recover the first stage portion of the rocket on its drone landing ships. The company also launched 10 Iridium satellites on a Falcon 9 rocket which resulted in a total of 20 Iridium satellites to be in orbit.

The news articles and links presented below are available for your reference.

AIRBNB

“Airbnb is Reportedly Creating a Fancier Service for People who Prefer Hotels"

SPACEX

“SpaceX Successfully Launches Reused Falcon 9 rocket, Recovers First Stage"

UBER

“Uber CEO Travis Kalanick Resigns"

Industry News Update – Week of 6/19/2017

Last week, Uber’s CEO, Travis Kalanick, took a leave of absence for an indefinite period since Uber has undergone a string of scandals marked by sexual harassment issues, several instances of past and ongoing litigation and inappropriate management culture. Travis will return to the company in a limited role.

Blue Apron’s IPO price is expected to be between $15 and $17 and the company plans to raise roughly $500 million.

Airbnb acquired Trooley Inc, an identity verification company, to assess whether Airbnb users are "bad actors" based on social media and public records databases.

Slack is raising $500 million and is expected to be valued at $5 billion. The company also received a bid from Amazon to be purchased for $9 billion. 

SoFi filed for a bank charter to provide its users with credit cards and FDIC insured NOW accounts.

Spotify partnered with Eventbrite to recommend events to its users based on their music interests. Spotify also reached a major milestone on June 15, 2017 by reaching 140 million total active users (roughly 50 million are paying users while the remaining 90 million are non-paying users).

The news articles and links presented below are available for your reference.

AIRBNB

"Airbnb To Buy Background-Check Startup Trooly To Root Out Scams"

BLUE APRON

“Blue Apron prices IPO at $15-$17 per share to raise $500M”

SLACK

"Slack Is Reportedly Raising Another $500 Million — And Amazon, Google, And Microsoft Might Try To Buy It"

SOFI

"SoFi Officially Files For A Bank Charter Of Its Own"

SPOTIFY

“Spotify Now Has 140 Million Active Users"

“Spotify Grows Its Events Profile With Tickets From Eventbrite"

UBER

“Uber CEO Travis Kalanick Takes Leave Of Absence"

 

 

Industry News Update – Week of 6/12/2017:

Last week, Eventbrite and WeWork have acquired companies to deliver awareness of product offerings outside of the US and to further building design initiatives. Eventbrite purchased Ticketfly, a ticket discovery app, from Pandora for $200 million to expand its international presence in event discovery. WeWork bought Fieldlens, a construction project management and communication tool, to facilitate the construction of building enhancements when WeWork signs long-term building leases.

Pinterest and Houzz have been involved in procuring funding. Pinterest raised $150 million to fund further development of its visual search technology and fuel user growth. After obtaining this funding, the company's valuation rose to $12.3 billion. Houzz is in talks to raise $400 million and is expected to be valued at $4 billion.

Lyft partnered with Jaguar Land Rover to deliver a fleet of self-driving vehicles.

Taylor Swift has returned her music to Spotify. She removed her music from the steaming platform in 2014 because she didn't believe artists and other relevant parties would be compensated appropriately.

Uber fired 20 employees as a result of its investigation related to inappropriate workplace behavior. In addition, Uber’s board of directors are contemplating a leave of absence for Travis Kalanick as his mother recently died in a boating accident. Uber’s Board of Directors also decided to fire Emil Michael, SVP of business who has recently been connected to three separate controversies surrounding Uber, on June 12, 2017.

The news articles and links presented below are available for your reference.

EVENBRITE

“Eventbrite Acquires Ticketfly from Pandora For $200 Million”

HOUZZ

“Houzz Raising $400 Million at $4 billion Valuation “

LYFT

“Lyft Gets $25M and a Fleet Of Cars From New Partner Jaguar Land Rover”

PINTEREST

“Pinterest is Now Valued at $12 Billion After Raising Another $150 million in Funding"

SPOTIFY

“Taylor Swift Embraces Streaming, Brings Full Catalog to Spotify and More"

UBER

“Uber Fires 20 Amid Investigation Into Workplace Culture”

“Uber CEO's Right-Hand Man is Out”

WEWORK

“WeWork Has Acquired Venture-backed Fieldlens "

 

 

Industry News Update – Week of 6/5/2017

Last week, SpaceX successfully reused a Dragon space craft to deliver supplies to the International Space Station.

Blue Apron filed for its IPO on June 1st and is expected to raise $100 million in the offering.

Coupang’s rapid expansion of its Rocket Shipping, expedited shipping service that delivers products before midnight the next day, led to large net losses which resulted in Coupang undertaking staff cuts in its delivery workforce. Several of Coupang's delivery workers collectively filed a petition to raise public awareness of Coupang’s labor rights abuse since the company fired a significant portion of its delivery workforce (10%) for lack of substantial reasons.  

Stripe introduced a real-time data analytics platform, Sigma, to help businesses examine payment data such as average revenue per user and recurring revenue.

The news articles and links presented below are available for your reference.

BLUE APRON

"Blue Apron, a Meal Delivery Service, Files for Public Offering"

COUPANG

"Online Shopping Giant Coupang Faces Criticism After Staff Cuts"

SPACEX

"SpaceX Launches 1st Recycled Supply Ship"

STRIPE

"Stripe Launches Sigma, a New Analytics Tool to Help Businesses Track Payments Data"

Industry News Update – Week of 5/30/2017

Last week, Uber agreed to repay drivers who collectively lost tens of millions of dollars in earnings when the company incorrectly took a transaction fee from its drivers’ post-tax earnings instead of their pre-tax earnings. While not a significant cost in the scope of the business, the settlement represented yet another cycle of adverse news flow for the company.

In addition, Uber fired Anthony Levandowski for not complying during the Uber vs Waymo investigation and appointed Eric Meyhofer, interim head of Uber Advanced Technology Group, to lead Uber’s self-driving initiatives.

In other news, Dropbox hired Sylvie Veilleux as its first ever CIO, whose mission will be to increase workforce diversity and expand the service offerings of the company.

Flipkart signed a term sheet to acquire Snapdeal, major Indian e-commerce company, for $1 billion, in order to more effectively battle Amazon India.

Lyft introduced Lux and Lux SUV vehicles, premium black cars, as new offerings on its platform.

Spotify settled a $43.4 million copyright infringement lawsuit relating to unpaid royalties for the rights to several songwriters' music.

The news articles and links presented below are available for your reference.

DROPBOX

"Dropbox Appoints Its first ever CIO, Sylvie Veilleux"

FLIPKART

"Flipkart Signs Term-sheet For Buying Out Smaller Rival Snapdeal"

LYFT

"Lyft Launches Two Premium Ride Hailing Options, Lux and Lux SUV"

SPOTIFY

"Spotify Settles Class Action Lawsuits Filed By David Lowery and Melissa Ferrick With $43.4 Million Fund"

UBER

"Uber to Repay Millions to Drivers, Who Could Be Owed Far More"

"Uber Fires Otto Co-founder Anthony Levandowski Due To Waymo Dispute”

Industry News Update – Week of 5/22/2017

Last week, Spotify acquired Niland, French artificial intelligence company, to optimize music recommendation and search by automatically classifying audio and using acoustic similarity algorithms. Also, Spotify revealed key 2016 financial metrics such as a 50% increase in revenue from 2015 to 2016 ($3.1 billion) and a significant increase in operating loss in 2016 (between $333.8 million to $444.5 million).

Uber released its Uber Freight app which connects commercial shippers with truck drivers willing to transport shipments.

WeWork announced that the company is expected to reach a $1 billion run rate this year. 

The news articles and links presented below are available for your reference. 

SPOTIFY

“Spotify just bought an AI startup to help it stay ahead of Apple Music"

"Spotify Reports Wider Than Expected Operating Loss, Despite Revenue Increase"

UBER

“Uber Freight Is The First Step To Automating Away Truckers"

WEWORK

“Wework Ceo Talks Revenue, Funding And Community"

Industry News Update – Week of 5/15/2017

Last week, Didi Chuxing added an interface for English-speaking users to its app which can be used by tourists and English-speaking residents in China to make it easier to hail a cab and expand its functionality beyond China-based users.

Lyft and Waymo (Google's self-driving car division) have partnered to further develop Lyft's autonomous vehicles. At the same time, Uber and Waymo’s lawsuit (one of Waymo's ex-employees stole confidential documents and then used this information to lead Uber's self-driving car projects) is officially going to trial to resolve whether Uber is guilty of theft of trade secrets.

Magic Leap is raising funds in a Series D round that would value the company between $6 and $8 billion.

Pinterest promoted its head of discovery engineering, Vanja Josifovski, to become the company's first CTO. Josifovski's responsibilities include enhancing Pinterest's machine learning and search initiatives while scaling Pinterest's tools for a larger number of users.

The news articles and links below are available for your reference. 

DIDI CHUXING

“Ride-hailing Giant Didi Finally Offers an English Language Option for Foreigners in China"

LYFT

“Alphabet’s Self-driving Unit Waymo is Teaming up With Lyft"

MAGIC LEAP

“Magic Leap Could Be Looking at an $8 Billion Valuation"

PINTEREST

“Pinterest Names First CTO, Launches New Lens Updates"

UBER

“Waymo’s Lawsuit Against Uber is Going to Trial, Judge Rules”