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

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

DOORDASH

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

FARFETCH

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

SOFI

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

UBER

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

WEWORK

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