Industry News Update – Week of 12/17/2018:

Last week, Tencent Music raised $1.1 billion in its IPO and was valued at $21.3 billion.

Niantic was raising $200 million at a $3.9 billion valuation.

After raising $250 million, Plaid was valued at $2.65 billion.

Basis is shutting down following regulatory concerns related to its stable coin project.

Shortly after launching its zero-fee checking and savings account feature with a 3% interest rate, Robinhood decided to rebrand the feature since the company is working with regulators regarding its SIPC coverage.

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

BASIS

"Basis, Backed With $133 Million From Top VCs to Build a Price-stable Cryptocurrency, Says it’s Shutting Down and Returning the Money"

NIANTIC

“Niantic Reportedly Raising $200M at $3.9B Valuation"

PLAID

"Plaid Raises $250 Million, now Valued at $2.65 Billion"

ROBINHOOD

"Robinhood Backtracks on Checking and Savings Accounts After Regulatory Concerns"

TENCENT MUSIC

"China's Tencent Music raises nearly $1.1 billion in U.S. IPO"