Pre-IPO Sector – News Update – Week of 5/20/2019

Last week, Crowdstrike and Fiverr filed documents for their IPOs.

DoorDash was raising funds at nearly a $13 billion post-money valuation.

Fastly raised $180 million in its IPO at a $1.45 billion valuation.  

Luckin Coffee raised $561 million in its IPO at a $4.2 billion valuation.

Nextdoor raised $123 million at a $2.1 billion valuation.

CROWDSTRIKE

"Crowdstrike Files to go Public — Lost $140 Million on $250 Million in Revenue Last Year"

DOORDASH

"DoorDash Takes Aim at Nearly $13 Billion Valuation in New Funding Round"

FASTLY

"Fastly Prices IPO at $16 to Raise More than $180 Million"

FIVERR

"Fiverr Files to go Public, Reports Revenue of $75.5M and a Net Loss of $36.1M for 2018"

LUCKIN COFFEE

"Starbucks' China Challenger Luckin Raises $561 Million in U.S. IPO"

NEXTDOOR

"Neighborhood Social Network Nextdoor Raises $123 Million at $2.1 Billion Valuation"

Pre-IPO Sector – News Update – Week of 5/13/2019

Last week, Uber raised $8.1 billion and was valued at $75.50 billion in its IPO.

Unity was raising $125 million at a $6 billion valuation.

Gett raised $200 million at a $1.5 billion valuation.

Impossible Foods raised $300 million at roughly $2 billion valuation.

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

GETT

"Gett Raises $200M at $1.5B Valuation for its B2B Ride-hailing Service, Aims For 2020 IPO"

IMPOSSIBLE FOODS

"Exclusive: Impossible Foods Raises $300 Million with Investors Eager for Bite of Meatless Burgers"

UBER

"Uber Raises $8.1 Billion in IPO Priced Near Bottom of Range"

UNITY

"Game Development Platform Unity Raising Funding at $6 Billion Valuation"

Pre-IPO Sector – News Update – Week of 5/6/2019

Last week, The We Company filed documents for its IPO.

Beyond Meats raised roughly $240 million in its IPO at a $1.5 billion valuation.

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

BEYOND MEATS

“Beyond Meat Prices IPO at $25 a Share, Valued at Almost $1.5 Billion”

WEWORK

“The We Company, Better Known as WeWork, Files Confidentially for IPO”

Pre-IPO Sector – News Update – Week of 4/29/2019

Last week, Slack filed its S1 for its upcoming direct listing.

Uber set its price range of $44-50 per share for its upcoming IPO.

Coursera raised $103 million at a valuation greater than $1 billion.

Keeptruckin raised $149 million at $1.25 billion valuation.

Magic Leap raised $280 million at an unknown valuation.

SoFi was closing a $500 million funding round that would result in the company's valuation to stand at $4.3 billion.

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

COURSERA

"Online Learning Startup Coursera Picks up $103M, Now Valued at $1B+"

KEEPTRUCKIN

"GV-backed KeepTruckin Nabs $149M at $1.25B Valuation"

MAGIC LEAP

"Magic Leap Raises $280 Million in Latest Funding Round"

SLACK

"Slack IPO Filing Shows Sharp Revenue Growth but Continued Losses"

SOFI

"SoFi is Close to Closing a $500 Million Round — Which Would put it at a $4.3 Billion Valuation Again"

UBER

"Uber to Price IPO Between $44 and $50 per Share"

Pre-IPO Sector – News Update – Week of 4/22/2019

Last week, Pinterest raised $1.4 billion in its IPO at a $10.1 billion valuation.

Zoom raised roughly $750 million in its IPO at a valuation greater than a $9 billion.

Fastly filed documents for its IPO.

Pax Labs raised $420 million at a $1.7 billion valuation.

Following its spin out from its parent company Uber, Uber ATG raised $1 billion at a $7.25 billion valuation.

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

FASTLY

"Fastly, the content delivery network, files for an IPO"

PAX LABS

"Confirmed: Pax Labs raises $420 million at a valuation of $1.7 billion"

PINTEREST

"Pinterest Tops Targeted IPO Range to Raise $1.4 Billion"

UBER

"Uber’s self-driving car unit raises $1B from Toyota, Denso and Vision Fund ahead of spin-out"

ZOOM

"Profitable Zoom Video Tops $9 Billion Valuation After IPO"

 

Pre-IPO Sector – News Update – Week of 4/15/2019:

Last week, Uber filed its S1 for its upcoming IPO.

Udacity laid off 20% of its workforce to restructure its operations.

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

UBER

“Uber IPO Filing Shows Growth Leveling Off”

UDACITY

“Udacity Restructures Operations, Lays off 20 Percent of its Workforce”

Pre-IPO Sector – News Update – Week of 4/8/2019:

Last week, Kabbage raised $700 million in debt to fund its SMB loans.

Pinterest set its price range of $15-17 per share for its upcoming IPO.

WeWork purchased Managed by Q, a platform used to hire on-demand service workers, to add support services for its customers.

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

KABBAGE

"Kabbage Raises a Record $700 Million in Debt for its SMB Loans Platform"

PINTEREST

"Pinterest Sets IPO Range at $15-17, Valuing it at $10.6B vs Previous Valuation of $12.3B"

WEWORK

"WeWork Acquires $249 Million Office-services Startup Managed by Q as it Goes After Larger Business Customers"

 

Pre-IPO Sector – News Update – Week of 4/1/2019:

Last week, Lyft raised $2.34 billion and was valued at $24.3 billion in its IPO.

Airbnb invested between $100-200 million in OYO rooms. 

Palantir was awarded a $800 million army contract to assess movements, terrain, and weather in remote areas using its Distributed Common Ground System.

Uber purchased Careem, a Middle Eastern ride sharing service, for $3.1 billion.

WeWork generated $1.8 billion in 2018 which represents a 103% increase compared to its 2017 revenue. The company's net loss increased to $1.9 billion in 2018.

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

 AIRBNB

"Airbnb to Invest $100-200 Million in India's OYO - Source"

CASPER

“Mattress Startup Casper Valued at $1.1B with New Funding”

LYFT

“Lyft Was Valued at $24.3 Billion in its IPO, and Raised More Than it Planned”

PALANTIR

“Palantir has Won an $800 Million Contract with the US Army to Build a System that Helps Soldiers Fighting in Remote Areas”

TOAST

"Toast, the Restaurant Management Platform, has Raised $250M at a $2.7B Valuation"

UBER

"Uber Buys Rival Careem in $3.1 Billion deal to Dominate Ride-hailing in Middle East"

WEWORK

"WeWork says Revenue More than Doubled Last Year to $1.8 Billion, but so did its Net Loss"

 

Pre-IPO Sector – News Update – Week of 3/25/2019:

Last week, Pinterest and Zoom filed to go public.

Glossier, UiPath, Rent the Runway and Opendoor raised new funds. Glossier's valuation increased to $1.2 billion after the company raised $100 million. Following its $400 million funding round, UiPath's valuation surpassed $7 billion. Rent the Runway's valuation increased to $1 billion after the company raised $125 million. Following its $300 million funding round, Opendoor's valuation increased to $3.8 billion.

Wish generated $1.9 billion in revenue in 2018.

Peloton was sued by music publishers for $150 million for using unlicensed music.

Robinhood acquired MarketSnacks, a financial podcast and newsletter, to enhance its news coverage and increase discovery within its platform.

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

GLOSSIER

“Glossier Triples Valuation, Enters Unicorn Club With $100M Round"

Opendoor

"Opendoor Raises $300M On A $3.8B Valuation For Its Home Marketplace"

Peloton

"Music Publishers Sue Peloton For Using Unlicensed Lady Gaga, Justin Timberlake Songs"

Pinterest

"Pinterest Is Growing, But Not As Fast As Twitter Or Snap Were When They Filed Their Ipos"

Rent the Runway

"Rent The Runway Hits A $1 Billion Valuation"

Robinhood

"Exclusive: Robinhood Made Its First Acquisition Ever — And It’s A Financial Newsletter"

Wish

"Meet The Billionaire Who Defied Amazon And Built Wish, The World’s Most-Downloaded E-Commerce App"

UiPath

"Robotics Process Automation Startup Uipath Raising $400M At More Than $7B Valuation"

Zoom

"Hot Video Meeting Startup Zoom Filed To Go Public, And It's Profitable"

Pre-IPO Sector – News Update – Week of 3/11/2019:

Last week, 23andMe expanded the scope of its product offerings to include a Type 2 diabetes test.

Airbnb purchased HotelTonight, the popular last minute hotel booking app, to expand its business in the hotel vertical.

Grab's valuation increased to $14 billion after the company raised $1.46 billion.

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

23ANDME

"23andMe Plans New Genetic Test on Risk of Getting Diabetes"

AIRBNB

“Airbnb To Buy HotelTonight As It Pushes Deeper Into Hotel Booking Business"

GRAB

"Grab is Now Valued at $14 Billion after Landing $1.46 Billion From SoftBank’s Vision Fund"

Pre-IPO Sector – News Update – Week of 3/4/2019

Last week, Lyft filed its S1 for its upcoming IPO.

Medallia's valuation increased to $2.4 billion after the company raised $70 million.

SpaceX successfully launched its first test flight of its unmanned Dragon vehicle.

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

LYFT

"Lyft, No. 2 In Rideshare Market, Offers Financial Details For Upcoming IPO"

MEDALLIA

"Sequoia-backed Medallia Raises $70M at a $2.4B Valuation"

SPACEX

"SpaceX and NASA Launch Is First Step to Renewed Human Spaceflight"

Pre-IPO Sector – News Update – Week of 2/25/2019

Last week, DoorDash's valuation increased to $7.1 billion after the company raised $400 million.

Lime hired Ted Tobiason as its first CFO. Tobiason recently worked as a Managing Director at Morgan Stanley, Managing Director at Deutsche Bank and the Head of Technology Equity Capital Markets at Bank of America.

Ola received $92 million from Sachin Bansal, Flipkart's co-founder.

Pinterest filed documents to go public.

SoFi launched its SoFi Invest product offering which allows its customers to invest actively or automatically with no-fees.

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

DOORDASH

“DoorDash Raises $400M Round, now Valued at $7.1B”

LIME

“Lime Hires its First CFO"

OLA

"Flipkart Co-founder Sachin Bansal Invests Rs 650 Crore in Ola"

PINTEREST

"Pinterest Files Confidentially for IPO"

SOFI

"SoFi Launches SoFi Invest and Eyes Additional Lending Products"

Pre-IPO Sector – News Update – Week of 2/18/2019:

Last week, Uber reported that the company generated $11.3 billion in revenue and posted an adjusted net loss of $1.8 billion in 2018.

Didi Chuxing posted a net loss of 10.9 billion yuan ($1.6 billion) in 2018. The company was planning to lay off 15% of its workforce in 2019.

DoorDash was raising $500 million at a valuation of more than $6 billion.

Opendoor raised roughly $200 million at a $3.7 billion valuation.

Peloton was interviewing banks for its upcoming IPO.

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

DIDI CHUXING

"China’s Didi Reportedly Lost a Staggering $1.6 Billion in 2018"

“China Ride-hailing Giant Didi to Lay off 15 Percent Staff this Year: source”

DOORDASH

“"DoorDash Said To Be Raising $500M At $6B+ Valuation"

OPENDOOR

“ Opendoor Files to Raise Another $200M at a $3.7B Valuation, Documents Show”

PELOTON

"Peloton Interviews Banks for IPO"

UBER

"Uber's Growth Slowed Dramatically in 2018”

Pre-IPO Sector – News Update – Week of 2/4/2019

Last week, Stripe's valuation rose to $22.5 billion after the company raised $100 million from Tiger Global.

Lime was raising $400 million at a $2 billion valuation.

Juul generated more than $1 billion in revenue in 2018.

Slack surpassed 10 million daily active users.

Pinterest hired Goldman Sachs and JP Morgan to lead its IPO.

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

JUUL

"Altria Says Juul Sales Skyrocket to $1 Billion in 2018"

LIME

"Scooter Startup Lime Is Raising $400 Million at $2 Billion Valuation"

PINTEREST

"Pinterest Taps Goldman Sachs, JPMorgan to Lead IPO: Sources"

SLACK

"Slack Passes 10 Million Daily Active Users"

STRIPE

"Stripe Rides the Online Payments Boom to a $22.5 Billion Valuation"

Pre-IPO Sector – News Update – Week of 1/28/2019

Last week, 23andMe received FDA approval for its genetic cancer test.

Airbnb acquired Gaest, a company that assists professionals in renting locations for meetings, to expand its presence in the business market.

Buzzfeed laid off 15% of its workforce in an effort to restructure and consolidate its business.

SpaceX completed its first test flight of its manned Dragon prototype.

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

23ANDME

“23andMe Has a New Genetic Cancer Test. But the Results Don't Tell You the Whole Story”

AIRBNB

“Airbnb Expands into Meeting-space Rentals after Snapping up Danish Startup"

BUZZFEED

"BuzzFeed to Cut 15% of Staff in New Round of Layoffs"

SPACEX

“SpaceX Revs Its Engines As It Gets Closer To Crewed Flight”

 

Pre-IPO Sector – News Update – Week of 1/21/2019:

Last week, Zoox hired Aicha Evans as its new CEO. Evans previously was Intel's Corporate Strategy Officer.

Rubrik's valuation increased to $3.3 billion after the company raised $261 million to expand its product offerings into security and compliance.

Palantir generated $900 million in revenue in 2018.

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

PALANTIR

“Palantir’s 2018 Revenue Said To Exceed Prior Forecast, Approaching $1B”

RUBRIK

"Data Management Startup Rubrik Gets $261M at a $3.3B Valuation as it Moves into Security and Compliance"

ZOOX

“ Robo-Taxi Startup Zoox Hires Intel Exec Aicha Evans As New CEO Robo-Taxi Startup Zoox Hires Intel Exec Aicha Evans As New CEO”

Pre-IPO Sector – News Update – Week of 1/14/2019:

Last week, Bird was raising an additional $300 million as an extension of its most recent funding round.

Ola's valuation increased to $5.7 billion after the company raised $75 million.

Postmates' valuation increased to $1.85 billion after the company raised $100 million.

Slack was considering a direct listing as its debut in the public market.

SpaceX fired 10% of its workforce to become a leaner company.

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

BIRD

"Scooter Startup Bird is Reportedly Raising $300 Million with Assistance From Financial Giant Fidelity"

OLA

"Uber’s India Rival Ola Nears $6 Billion Valuation Ahead of Huge Funding Round"

POSTMATES

"Postmates Adds $100 Million In Funding As Food Delivery Co. Prepares For Potential IPO"

SLACK

"Slack Eyes a Direct Listing"

SPACEX

"SpaceX Layoffs Include 577 Positions at California Headquarters"

Pre-IPO Sector – News Update – Week of 1/7/2019:

Last week, Adaptive Biotechnologies signed a $300 million deal with Genentech to develop personalized cancer treatments. Adaptive Biotechnologies may receive more than $2 billion from Genentech if certain milestones are met.

Didi Chuxing is introducing protection insurance and credit services within its app for both its passengers and drivers.

Livongo appointed Lee Shapiro as its CFO. Shapiro was on the Board of Livongo since its inception and previously served as Chair of its Audit Committee.

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

Links

ADAPTIVE BIOTECHNOLOGIES

“Adaptive Biotechnologies Signs Blockbuster Deal With Genentech For Personalized Cancer Treatments Worth Up To $2 Billion"

DIDI CHUXING

"Didi Launches Lending And Insurance As New Regulation Threatens To Lower Driver Numbers"

LiVONGO

"Livongo Names Lee Shapiro Chief Financial Officer"

Pre-IPO Sector – News Update – Week of 12/31/2018:

Last week, Grab increased the size of its Series H round to $5 billion, up from its original $3 billion target.

Carta’s valuation increased to $800 million after the company raised $80 million.  

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

CARTA

"A Company That Came up with a Clever Solution to Startup Stock-Options Just Raised $80 Million at a Near $1 Billion Valuation"

GRAB

“Grab Raises Fundraising Target to $5B as Southeast Asia’s Ride-hailing War Heats Up"

Industry News Update – Week of 12/24/2018:

Last week, Juul sold 35% stake to Altria Group for $12.8 billion. Following this deal, Juul's valuation rose to $38 billion.  

Livongo hired Zane Burke as its new CEO. He previously worked 18 years at Cerner Corporation where he was the President of the company for the past 7 years.

Pinterest was having preliminary discussions with bankers to select its underwriters for its upcoming IPO which could happen as early as April 2019.

SpaceX's valuation rose to $30.5 billion after the company raised $500 million to develop its Starlink satellite network.

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

JUUL

“Juul Labs Gets $12.8 Billion Investment From Marlboro Maker Altria Group"

LIVONGO

“Livongo Names Zane Burke Chief Executive Officer"

PINTEREST

“Pinterest is Talking to Bankers and has Hired a Key Exec as it Readies Itself for a 2019 IPO"

SPACEX

"SpaceX Raising $500 Million, Pushing Valuation to $30.5 Billion: Report"