Industry News Update – Week of 8/20/2018:

Last week, Farfetch filed documents for upcoming IPO on the NYSE.

Doordash's valuation increased to $4 billion after the company raised $250 million.

Coinbase acquired Distributed Systems, an identity integration tool, to allow its new users to sign up in a quicker and more secure fashion.

SoFi was having discussions to obtain to a $1 billion line of credit.

Uber's Q2 net revenue was $2.7 billion (a 51% increase compared to Q2 2017) and its Q2 gross bookings were $12 billion (up 41% compared to Q2 2017). Uber's Q2 adjusted EBITDA loss was $404 million (a 24% decrease compared to Q2 2017).

WeWork’s Q2 net revenue was $422 million (a 113% increase compared to Q2 2017). The company reported a net loss of $723 million in H1 2018.

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


“Coinbase Acquires Distributed Systems to Build ‘Login with Coinbase"


"DoorDash Raises Another $250M, Nearly Triples Valuation to $4B"


"Farfetch Files for IPO to Trade on NYSE as FTCH; has Nearly 1B Active Users of its Luxury Goods Marketplace"


"SoFi Seeks Credit Line of as Much as $1 Billion"


"Uber's Revenue and Bookings Growth Slowed Slightly in the Second Quarter of 2018, Company Reports"


“WeWork is Still Growing Phenomenally — and Losing a Lot of Money”