Industry News Update – Week of 7/16/2018:

Last week, Robinhood added Litecoin and Bitcoin Cash to its crypto-trading platform.

Lime, an electric scooter startup, raised $335 million from Uber and Alphabet. Following this funding round, Lime's valuation increased to $1.1 billion.

Following Craig Venter's retirement, Human Longevity appointed David Karow as its interim CEO. Karow was previously the Chief of Radiogenomics at Human Longevity.

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

HUMAN LONGEVITY

"Human Longevity Names Interim CEO"

LIME

"Uber and Alphabet Just Invested $335 Million in Lime — Here's Why Scooter Start-ups Are Suddenly Worth Billions"

ROBINHOOD

"Robinhood Has Added Two More Cryptocurrencies"

Industry News Update – Week of 7/9/2018:

Last week, Xiaomi raised $4.7 billion in its IPO and the company was valued at $54 billion. Xiaomi ’s shares closed at HK$16.80 ($2.14) on its first day of trading which represents a 1.2% decrease compared to its original share price.

Juul was planning to raise $1.2 billion at a $15 billion valuation.

Bloom Energy planned to raise $252 million in its IPO at a price range of $13 to $15 that would value the company at roughly $1.5 billion.

Sonos and Tencent Music Entertainment have both filed documents for their upcoming IPOs.

Uber held preliminary discussions to merge its Middle East business with Careem.

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

BLOOM ENERGY

"Bloom Energy Sets Terms for $252 Million IPO"

JUUL

"E-Cigarette Maker Juul Labs is Raising $1.2 Billion"

SONOS

"Sonos, the Smart Speaker Company, Files for an IPO — on Track to do Over $1 Billion in Revenue This Year"

Tencent Music Entertainment

“China’s Largest Music Streaming Business is Planning a US IPO"

UBER

"Uber Is in Talks With Careem to Merge in Middle East"

Xiaomi

“Chinese Smartphone Maker Xiaomi Falls in Hong Kong Trading Debut"

Industry News Update – Week of 7/2/2018:

Last week, Xiaomi priced its IPO at 17 Hong Kong dollars (US$2.17) per share which is the bottom of its target price range of HK$17 to HK$22. The company’s shares will begin trading on July 9th.

Lyft's valuation increased to $15.1 billion after the company raised $600 million.

Bird's valuation increased to $2 billion after the company closed its recent $300 million funding round.

Peloton acquired Neurotic Media, a music marketing and distribution platform, to deliver innovate music features to its customers.

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

BIRD

"Scooter Startup Bird Raises $300 Million in Latest Funding Round"

LYFT

" Lyft Valued at $15.1 Billion After New Funding Round"

PELOTON

“Peloton Acquires Music Startup Neurotic Media"

XIAOMI

“Xiaomi Prices Hong Kong IPO at Bottom of Target Range”

Industry News Update – Week of 6/25/2018:

Last week, AppNexus was acquired by AT&T for $1.6 billion to bolster AT&T's television advertising technology.

The SEC received 164 pages of customer complaints regarding various technological shortcoming of Coinbase’s platform.

Didi Chuxing is launching its platform in Australia.

Juul recently performed a secondary sale that valued that the company at more than $10 billion.

Meituan Dianping and Survey Monkey have both filed documents for their upcoming IPOs.

SpaceX was awarded its first Falcon Heavy Contract for $130 million from the Air Force.

Uber is working to appeal the London’s transport regulator decision to withdraw its license.

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

Links

APPNEXUS

“AT&T to Acquire Digital Ad Firm AppNexus for $1.6 Billion"

COINBASE

"The SEC has Received Nearly 200 Pages of Complaints About Coinbase, the $1.6 billion Cryptocurrency Trading Platform"

DIDI CHUXING

“Didi Chuxing Continues International Expansion With Australian Launch"

JUUL

“ Juul Valued at $10B"

MEITUAN DIANPING

"China's Meituan Dianping Files for Hong Kong IPO; Seeks Over $4 billion: sources"

SURVEYMONKEY

"SurveyMonkey has Filed Confidentially to go Public"

SPACEX

“SpaceX Wins $130 Million Military Launch Contract for Falcon Heavy Rocket"

UBER

“Uber is in Court to Appeal London License Loss by Claiming it’s Changed"

Industry News Update – Week of 6/18/2018:

Last week, Adyen raised 947 million euros ($1.1 billion) in its IPO and the company was valued at $8.3 billion. Adyen’s shares closed at €455 on its first day of trading which represents a 90% increase compared to its opening share price.

Avalara raised $180 million in its IPO and the company was valued at $1.56 billion. Avalara’s shares closed at $44.94 on its first day of trading which represents a 87% increase compared to its original share price.

Bloom Energy has filed documents for its upcoming IPO.

Grab’s valuation increased to $10 billion after the company raised $1 billion in a funding round led by Toyota.

Opendoor raised $325 million in its Series E funding round.

WeWork is raising funds at a $35 billion valuation.

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

ADYEN

“PayPal Rival Adyen Surges 90 Percent in IPO with Valuation Topping $15 Billion“

AVALARA

“Tax Software Company Avalara Nearly Doubled in its First Day of Trading”

BLOOM ENERGY

“Bloom Energy Files for IPO"

GRAB

“Southeast Asia’s Grab Lands $1B From Toyota at a $10B Valuation"

OPENDOOR

"Opendoor Raises $325M to Make Buying and Selling Homes a Near-instant Process"

WEWORK

"WeWork Is Raising Funds at $35 Billion Valuation, SoftBank Executive Says"

Industry News Update – Week of 6/11/2018:

Last week, Coinbase acquired KeyStone Capital to provide blockchain-based securities as a regulated broker-dealer.

Grab announced that the company generated more than $1 billion in annual revenue.

Wish earned more than $1 billion in revenue in 2017 and stated that its revenue more than doubled every year since its inception.

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

COINBASE

"Coinbase Acquires Keystone Capital in bid to Become a Regulated Broker-dealer"

GRAB

"Ride-hailing Major Grab Reveals Annual Revenue Now Exceeds $1b”

WISH

"Shopping app Wish is Building a Retail Empire on $2 Sunglasses"

Industry News Update – Week of 6/4/2018:

Last week, Microsoft acquired Github for $7.5 billion.

Xiaomi planned to raise $3 billion in its IPO that is expected to occur in July 2018.

MachineZone appointed Kristen Dumont as the company's new CEO. She previously worked as the COO of Machine Zone. Gabriel Leydon, MachineZone's past CEO, will lead the cryptocurrency initiatives of the company’s Satori technology.

Taxify's valuation increased to $1 billion after the company raised $175 million in a funding round led by Daimler.

Lyft acquired Motivate, a bike-sharing platform, for roughly $250 million to compete with Uber’s acquisition of JUMP.

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

GITHUB

"Microsoft Confirms It Has Acquired GitHub for $7.5 billion"

LYFT

"Report: Lyft Agrees to Buy Motivate in Big Bikeshare Deal"

MACHINEZONE

"Kristen Dumont Named Chief Executive Officer of Machine Zone"

TAXIFY

“Uber's European Rival Taxify Wins Unicorn Status Raising Funds"

XIAOMI

 "China's Xiaomi Eyes $3 Billion CDRs in $10 Billion July Listing Plan: Sources"

Industry News Update – Week of 5/29/2018:

Last week, Adyen announced plans to go public in June on the Amsterdam stock exchange at a valuation between $7-$11 billion.

Rover's valuation increased to $970 million after the company raised $155 million.

Uber was holding a $600 million secondary sale at a $62 billion valuation. The company also generated $2.5 billion in revenue in Q1 2018 (a 67% increase relative to revenue in Q1 2017) and earned $304 million in net loss in Q1 2018 (roughly 50% decrease compared to net loss in Q1 2017).

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

ADYEN

"Payments Firm Adyen Plans June Listing Amid Flurry of Deals"

ROVER

"Dog-sitting Startup Rover Just Raised $155M"

UBER

"Uber’s Raising up to $600M in a Secondary Round at $62B Valuation, Q1 Sales Grew to $2.5B"

Industry News Update – Week of 5/21/2018:

Last week, Circle’s valuation increased to $3 billion after the company raised $110 million in a funding round led by Bitmain Technologies. Circle and Bitmain have partnered to create USD Coins, a digital coin backed by the US dollar, to provide more stability in the cryptocurrency sector. 

Houzz hired Richard Wong as its first CFO. Wong previously worked as the Vice President of Finance at Linkedin, Senior Director of Operations Finance at Yahoo! Inc, Vice President of Technology Investment Banking at Bank of America, Senior Manager of Corporate Development at Lucent Technologies and Investment Banking Analyst at JPMorgan.

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

CIRCLE

"Circle Says Bitmain Leads $110 Million Investment Round"

HOUZZ

“Houzz Hires Richard Wong as First Chief Financial Officer"

Industry News Update – Week of 5/14/2018:

Last week, Avalara filed its S1 and planned to raise $150 million in its IPO.

Didi Chuxing received approval to test its self-driving vehicles on the public roads of California which marks its first autonomous testing license granted in the US.

Walmart purchased a 77% stake in Flipkart for $16 billion.

Slack surpassed 8 million daily active users of which 3 million are paying users.

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

Avalara

"Fast-growing Sales Tax Automation Company Avalara Files For $150 Million IPO"

Didi Chuxing

“China’s Didi Gets Approval to Test Autonomous Cars in California"

Flipkart

“Walmart Has Confirmed it is Buying a Majority Stake in India’s Flipkart for $16 Billion"

Slack

“Slack Hits 8 Million Daily Active Users with 3 Million Paid Users"

Industry News Update – Week of 5/7/2018:

Last week, Xiaomi confidentially filed documents for its upcoming IPO where the company plans to raise $10 billion.

Grab is in talks to raise $1 billion at a $10 billion valuation to expand its ride sharing presence in Southeast Asia, following its recent acquisition of the Southeast Asian business of Uber Technologies.

A few weeks ago, Kabbage acquired Orchard, an online lending data and service platform, to processing payments for small businesses and enhance its automated lending platform.

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

GRAB

“Ride-Hailing Firm Grab in Talks to Raise $1 Billion"

kABBAGE

“Kabbage Plan In Orchard Deal: Expand Offerings to Banks, Small Businesses"

Xiaomi

“China's Xiaomi Picks Hong Kong for $10 Billion IPO, Lifts Lid on Financials"

Industry News Update – Week of 4/30/2018:

Last week, DocuSign raised $629 million in its IPO and the company was valued at $4.41 billion. DocuSign’s shares closed at $39.73 on its first day of trading which represents a 37% increase compared to its original share price.

Sonos confidentially filed documents for its upcoming IPO that is expected to occur in the summer of 2018.

WeWork raised $702 million by selling a seven-year bond at an interest rate of 7.875%.

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

DOCUSIGN

“DocuSign Starts Trading on Nasdaq After Raising $629 Million in IPO"

SONOS

“Sonos Confidentially Files for IPO That Could Come This Summer"

WEWORK

“WeWork Raises $702 Million With First Bond Sale"

Industry News Update – Week of 4/23/2018:

Last week, Pivotal Software raised $555 million in its IPO and the company was valued at more than $3 billion. Pivotal Software’s shares closed at $15.73 on its first day of trading which represents a 5% increase compared to its original share price.

Docusign revealed its IPO pricing which will be between $24 and $26 and plans to raise roughly $417 million in its IPO.

Adyen processed $122 billion in payments transaction volume and generated $1.14 billion in revenue in 2017 which represents more than $400 million increase compared to its 2016 revenue.

Coinbase hired Alesia Haas as its CFO. Haas previously worked as the CFO of Och-Ziff Capital Management Group, the CFO of OneWest Bank, Private Equity Director at Morgan Stanley and Vice President of GE Healthcare.

General Assembly was being acquired by Adecco Group for $412.50 million to allow Adecco Group to enhance its talent reskilling and human resource services.

Uptake acquired Asset Performance Technologies, a company that possesses an extensive database on industrial equipment failures, to identify industrial equipment issues sooner.

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

Adyen

“Adyen 2017 Revenue Crosses $1 Billion Mark; Increase Of Over $400M From 2016”

Coinbase

“Alesia Haas Is Leaving Och-Ziff to Become Coinbase's CFO”

DocuSign

“DocuSign Ups IPO Target to $417M on Stock Price of $24 to $26, New Filing Reveals”

General Assembly

“Staffing Firm Adecco Buys General Assembly for $412.5 Million”

Pivotal Software

“Pivotal Software Closed up 5% Following IPO, Raised $555 Million”

Uptake

“Tech Start-up Uptake Makes 'Big' Acquisition in Race to Digitize the Industrial Industry”

Industry News Update – Week of 4/16/2018:

Last week, SpaceX, DJI, Meituan-Dianping, Ant Financial were raising funds. SpaceX raised $500 million and was valued at $25 billion. DJI was in talks to raise between $500 million and $800 million to manufacture drones for new verticals such as energy, construction and agriculture. Following this funding round, DJI 's valuation was expected to increase to $15 billion. Ant Financial was seeking $9 billion at a $150 billion valuation to expand its international presence through investing and acquisition efforts. Meituan-Dianping was planning to raise $3 billion at a $40 billion valuation to enhance its delivery and ride-hailing business.

Coupang generated 2.7 trillion won ($2.5 billion) in revenue (40% increase compared to 2016) and accrued 638.8 billion won ($595 million) in net losses (13% increase compared to 2016) in 2017.

WeWork acquired Naked Hub, a Chinese co-working firm, for $400 million to increase its presence in China.

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

Ant Financial

"Ant Financial reportedly Raising $9 Billion at a $150 Billion Valuation"

Coupang

"Coupang's Revenue Increased 40% to ₩2.7 tril. in 2017"

DJI

"Chinese Drone Maker DJI Seeking at Least $500 Million in Funds: Sources"

Meituan-Dianping

“Meituan-Dianping in Talks to Raise $3 Billion, Sources Say”

SpaceX

"SpaceX Is Raising A $500 Million Funding Round At A $25 Billion Valuation”

WEWORK

"WeWork Is Diving Headfirst Into China With a Big New Buy"

Industry News Update – Week of 4/9/2018:

Last week, Spotify went public through its Direct Listing with an opening share price of $165.90 and a valuation of $29 billion. Its shares closed at $149.01 on its first day of trading (10% decline) which valued the company at $26.5 billion.

Uber and Meituan Dianping acquired bike-sharing startups. Uber acquired Jump, a New-York based dockless bike-sharing startup, for $100 million to expand its product offerings to include bike-sharing. Meituan Dianping purchased Mobike, a China based bike-sharing platform, for $2.7 billion to consolidate resources between the Tencent-backed firms as they both try to increase their respective market shares.

Didi Chuxing officially launched its platform in Mexico which represents the company's first international launch. Didi Chuxing was attempting to increase the number of drivers on its platform in this new region by not charging a commission until June 17th and offering a lower commission (20%) compared to Uber’s 25% commission after June 17th.

Instacart raised an additional $150 million as an extension of its Series E funding round which now brings its total Series E funding to $350 million. Following this round, the company’s valuation increased to $4.35 billion.

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

Didi Chuxing

"Chinese Uber Rival Didi Launches in Mexico, Recruits Drivers"

Instacart

"Instacart Raises Another $150 Million"

Meituan Dianping

"China's Meituan Dianping Acquires Bike-sharing Firm Mobike"

Spotify

"The Latest: Spotify's Market Value Hovers at Around $29B"

“Spotify Traded Down 10% on First Day, Achieved $26.5 Billion Market Cap"

Uber

"Uber Acquires Dockless Bike-share Startup Jump"

Industry News Update – Week of 4/2/2018:

Last week, Alibaba purchased Ele.me's outstanding shares in a deal that valued Ele.me at $9.5 billion. This acquisition will allow Alibaba to provide Ele.me's food delivery service to more customers using its extensive network of businesses and its technical infrastructure.

Circle appointed Naeem Ishaq as the company's CFO. He previously worked as the CFO of Boxed, Head of Finance & Strategy at Square and held numerous Finance Manager related positions at Salesforce.

Uber plans to shut down its UberRush delivery service on June 30th, 2018.

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

CIRCLE

"Crypto Startup Circle Hires a Square Vet as CFO"

ELE.Me

"Alibaba to buy all remaining outstanding shares of local delivery service Ele.me"

UBER

"Uber is shutting down its on-demand delivery service, UberRush"

Industry News Update – Week of 3/26/2018:

Last week, Dropbox's IPO raised $756 million and the company was valued at $8.2 billion. Dropbox’s shares closed at $28.48 on its first day of trading which represents a 36% increase compared to its original share price.

DocuSign filed documents for its upcoming IPO and was expected to go public in Q2 or Q3 of 2018.

Meituan Dianping held preliminary discussions to go public on the Hong Kong exchange at a $60 billion valuation.

Uber sold its SouthEast Asia business to Grab in exchange for a 27.5% stake in the company.

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

DOCUSIGN

"DocuSign Files for an IPO"

DROPBOX

"Dropbox Finishes up 36% on First Day of Trading"

“Dropbox Prices IPO at $21 per Share”

Meituan Dianping

"Meituan Dianping Reported To Seek Hong Kong IPO At $60 Billion Valuation"

UBER

"Uber Quits 8 Countries in Southeast Asia, Selling Out to Rival Grab"

Industry News Update - Week of 3/19/2018

Last week, Spotify announced that its stock would commence trading on the NYSE on April 3rd. Spotify’s direct listing will not include underwriters and a lock-up period.

Robinhood raised $350 million from DST Global and several other investors. Following this funding round, the company's valuation was expected to increase to $5.6 billion.

Human Longevity hired Scott Sorensen as the company's Chief Technology Officer. One of his key responsibilities as CTO is to further develop Human Longevity's Health Nucleus products. Sorensen previously worked at Ancestry.com for 16 years where he started as Director of Engineering and eventually became the company's CTO.

SpaceX received a $291 million contract from the U.S. Air Force to launch a GPS satellite by March 2020.

A former Magic Leap employee sued the company for incorrectly classifying hundreds of workers as independent contractors to avoid paying taxes.

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

HUMAN  Longevity

"Human Longevity, Inc. Hires Former Ancestry Executive, Scott Sorensen, As New Chief Technology Officer"

MAGIC LEAP

"Magic Leap Sued Over Misclassifying Workers"

ROBINHOOD

"Stock-trading app Robinhood now reportedly worth more than $5 billion"

SPACEX

"SpaceX and ULA win over half a billion dollars in new Air Force launch contracts"

SPOTIFY

"Spotify will start trading April 3"

Industry News Update – Week of 3/5/2018

Last week, Spotify filed documents for its upcoming Direct Listing where the company planned to be listed on the New York Stock Exchange with "SPOT" as its ticker.

Anthony Noto officially started his role as SoFi's new CEO.

DoorDash raised $535 million from Softbank, GIC, Sequoia and Wellcome Trust to triple its market presence and hire 250 employees. Following this round, the company was valued at $1.4 billion.

Pinterest hired its first COO, Francoise Brougher, who previously worked at Google and Square. Her responsibilities as COO include supervising the company's sales, partnerships and business development initiatives.

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

DOORDASH

"DoorDash Raises $535 Million To Fuel Food Delivery War"

PINTEREST

"Pinterest Has Hired Former Google and Square Executive Francoise Brougher as its First COO"

SOFI

"Anthony Noto’s Mission as SoFi CEO: Get the Startup Ready to Go Public"

SPOTIFY

"Spotify Has Filed to go Public"

Industry News Update – Week of 2/26/2018:

Last week, Dropbox filed documents for its upcoming IPO where the company planned to raise $500 million.

Go-Jek raised $1.5 billion from several investors including Google and BlackRock to add more passengers and drivers to its platform . Following this round, the company's valuation increased to $5 billion.

Magic Leap was in talks with Saudi Arabia's sovereign wealth fund to raise an additional $400 million as an extension of its previous funding round.

SpaceX successfully launched its first two Internet satellites as part of its Starlink project. The company intends to send approximately 12,000 satellites to provide high speed internet across the globe.

WeWork generated $900 million in sales in FY 2017.

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

DROPBOX

"Dropbox to go Public 10 Years After Launch"

GO-JEK

"Indonesia's Go-Jek Raises $1.5 Billion as Ride-hailing Market Heats Up: Sources"

MAGIC LEAP

"Magic Leap is Reportedly in Talks to Raise $400 Million From Saudi Arabia's Sovereign Wealth Fund"

SPACEX

"Elon Musk Shared the First Images of SpaceX Satellites That Could Change The Internet"

WEWORK

"WeWork, With $900 Million in Sales, Finds Cheaper Ways to Expand”