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"

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"

Industry News Update – Week of 12/10/2018:

Last week, Lyft and Uber filed documents for their IPO confidentially.

Looker's valuation increased to $1.6 billion after the company raised $103 million.

Slack hired Goldman Sachs as its lead underwriter for its upcoming IPO.

Human Longevity's valuation fell by roughly 80% to $310 million after the company planned to raise $25 million in its latest funding round.

Machine Zone (MZ) hired Dan Nash as its CFO. Nash was previously the Managing Director and Head of Internet Investment Banking at Wells Fargo and the Director of Internet Investment Banking at Merrill Lynch.

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

HUMAN LONGEVITY

“Genomics Startup Human Longevity’s Valuation Falls 80%"

LOOKER

"Looker Snags $103 Million Investment on $1.6 Billion Valuation"

LYFT

"Lyft Files Confidential Plans for an IPO"

MACHINEZONE (MZ)

"Dan Nash Joins MZ as Chief Financial Officer"

SLACK

"Slack Said to Tap Goldman Sachs to Lead IPO"

UBER

"Uber Files Confidentially for IPO"

 

Industry News Update – Week of 12/3/2018:

Last week, Robinhood hired Jason Warnick as its CFO. Warnick previously held various finance roles at Amazon over the past 20 years and begin his career at Deloitte as an auditor.

Chargepoint raised more than $200 million to expand its electric vehicle (EV) charging network.

SoFi cut 7% of its staff to restructure its mortgage department as the company no longer wants to underwrite mortgage loans directly.

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

Links

CHARGEPOINT

“ChargePoint Raises More Than $500M; Profit Pressure Will Start"

ROBINHOOD

"Robinhood Hires Amazon Veteran as CFO — a Key Step in its Path to Eventual IPO"

SOFI

"SoFi Is Cutting 7% of Staff and Will Revamp Its Ailing Mortgage Unit"

Industry News Update – Week of 11/26/2018:

Last week, Coupang's valuation increased to $9 billion after the company raised $2 billion.

Airbnb appointed Dave Stephenson as its new CFO. Stephenson previously held numerous positions at Amazon, was the President and CFO at Big Fish Games and worked in finance and engineering roles at Procter and Gamble.

BlackBerry stated that it would acquire Cylance for $1.4 billion to bolster its autonomous vehicle software.

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

AIRBNB

"Airbnb Poaches Another Amazon Exec to be its CFO"

COUPANG

“Coupang, Korea's Answer to Amazon, Raises $2 Billion, Mints New Billionaire"

CYLANCE

“BlackBerry to Buy Cybersecurity Firm Cylance for $1.4 billion”

Industry News Update – Week of 11/19/2018:

Last week, WeWork’s valuation increased to $45 billion after the company raised $3 billion from Softbank.

Rocket Lab raised $140 million in its Series E funding round. Following this round, the company was valued at $1.41 billion.

Airbnb disclosed that the company generated more than $1 billion in revenue in Q3 2018.

Uber earned $2.95 billion in revenue and suffered a net loss of $1.07 billion in Q3 2018.

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

AIRBNB

"Airbnb Booked More Than $1 Billion in Third Quarter Revenue"

ROCKET LAB

"Rocket Lab Reports $140M in Fresh Funding, Cementing Space Unicorn Status"

UBER

“Uber Revenue Slows as Quarterly Loss Surges to $1.1 Billion"

WEWORK

"SoftBank Boosts WeWork Valuation to $45 Billion"

Industry News Update – Week of 11/12/2018:

Last week, Rocket Lab successfully completed its first commercial launch.

SpaceX plans to launch 1,584 satellites in space as part of its Starlink project which is roughly a third of the number of satellites that company planned to launch originally.

Jay Walder was appointed as Virgin Hyperloop One's new CEO. Walder previously led Motivate, a bike-sharing company that was acquired by Lyft.

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

ROCKET LAB

"Rocket Lab is in Business with its First Commercial Launch"

SPACEX

"SpaceX’s Starlink Aims to Put Over a Thousand of its Communications Satellites in Super-low Orbit"

VIRGIN HYPERLOOP ONE

"Virgin Hyperloop One has a New CEO and Board Chairman"

Industry News Update – Week of 11/5/2018:

Last week, Quanergy's valuation surpassed $2 billion after the company raised an undisclosed amount of funding in its Series C round.

Shape Security raised $26 million in it Series E round at a $496 million valuation.

23andMe became the first company to obtain FDA clearance for its test that reports how a person’s genetics affect their reaction to certain drugs.

Carbon hired Elisa de Martel as its new CFO. She previously was the Manufacturing Finance Director at Apple, finance manager at Citroen UK and a supervisor at PricewaterhouseCoopers.

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

23ANDME

"23andMe Can Now Tell You How You May Respond to Some Drugs. But Experts Are Wary"

CARBON

"Carbon Announces Updates to Board of Directors and Appoints New CFO"

QUANERGY

"Quanergy Completes Series C Financing With a Valuation Surpassing $2 Billion"

SHAPE SECURITY

"Anti-fraud Startup Shape Security Raises $26M in Series E Round to Drive Global Expansion"

Industry News Update – Week of 10/29/2018:

Last week, Airbnb hired Aristotle Balogh as its new CTO. Balogh was previously a VP of engineering at Google.

Lyft acquired Blue Vision, an AR company that uses its technology to develop high resolution street maps.

Flipkart's FY 2018 revenue increased by 39% to ₹21,658 crore ($2.95 billion) . The company's FY 2018 net loss increased nine-fold to ₹2,065 crore ($281 million).

Bytedance’s valuation increased to $75 billion after the company raised $3 billion.

Epic Games’ valuation surpassed $15 billion after the company raised $1.25 billion.

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

AIRBNB

"Airbnb is Bringing on New CTO from Google"

BYTEDANCE

"Bytedance Is Said to Secure Funding at Record $75 Billion Value”

EPIC GAMES

"Epic Games, Developer Of Fortnite, Now Valued At More Than $15 Billion”

FLIPKART

"Flipkart India’s Loss Rises 9-fold Amid Growth at a Fast Clip"

LYFT

“Lyft Unveils a New Self-driving Car and Acquires an AR Startup to Help it Build Maps"

Industry News Update – Week of 10/22/2018:

Last week, Instacart's valuation increased to $7.6 billion after the company raised $600 million.

 Lyft selected JPMorgan as its lead underwriter for its upcoming IPO.

 Palantir could be valued at $41 billion when going public in the second half of 2019.

 Uber could be valued at $120 billion when the company goes public.

 

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

 

INSTACART

“Instacart Grabs Extra $600M In Funding At $7.6B Valuation, Says IPO 'On The Horizon'"

LYFT

"Report: Lyft picks JPMorgan to lead IPO in 2019"

PALANTIR

“ Mysterious Big Data Company Palantir is Reportedly Looking at an IPO — And Could See a Valuation of $41 Billion”

UBER

"Uber Proposals Value Company at $120 Billion in a Possible IPO"

Industry News Update – Week of 10/15/2018:

Last week, Anaplan raised $264 million in its IPO and the company was valued at $2.07 billion. Anaplan’s shares closed at $24.30 on its first day of trading which represents a 43% increase compared to its original share price.

Allbird’s valuation increased to $1.4 billion after the company raised $50 million.

Buzzfeed hired a new CFO, Eric Muhlheim. Muhlheim previously held the CFO position at various companies and worked at Disney for 16 years.

Circle acquired SeedInvest, an equity crowdfunding firm, to integrate its technology within the platform.

Robinhood has officially launched its in-house trade clearing platform and announced that the company now has 6 million customers.

Snowflake’s valuation increased to $3.95 billion after the company raised $450 million.

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

ALLBIRDS

"Trendy Sneaker Startup Allbirds Laces Up $1.4 Billion Valuation"

ANAPLAN

"Anaplan surges in market debut after rocky week for tech stocks"

BUZZFEED

“BuzzFeed Taps Former Disney Exec Eric W. Muhlheim as New CFO (EXCLUSIVE)"

CIRCLE

“Crowdfunding Firm Funded by Spencer Trask & Co. Acquired by Circle"

ROBINHOOD

“Robinhood Launches its Own Trade-clearing System as Customer Growth Surges”

SNOWFLAKE

“Cloud Data Warehouse Company Snowflake Computing Raises $450 Million at $3.5 Billion Valuation”

Industry News Update – Week of 10/1/2018

Last week, SurveyMonkey raised $180 million in its IPO and the company was valued at $1.46 billion. SurveyMonkey’s shares closed at $17 on its first day of trading which represents a 42% increase compared to its original share price.

Bitmain filed documents for its IPO on the Stock Exchange of Hong Kong.

Stripe's valuation increased to $20 billion after the company raised $245 million.

Slack's IPO is expected to occur in the first half of 2019.

Compass's valuation increased to $4.4 billion after the company raised $400 million.

Opendoor's valuation increased to $2.42 billion after the company raised an additional $400 million in its Series E funding round.

Lyft generated $909 million in the first half of the year (120% increase compared to the first half of last year) and its net loss increased to $373 million in the first half of the year (46% increase compared to the first half of last year).

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

BITMAIN

“Crypto Mining Giant Bitmain Reveals Heady Growth as it Files for IPO"

COMPASS

"Compass Nabs $400M, Valuing the Real Estate Technology Startup at $4.4B"

LYFT

"Understanding Lyft’s Recent Financial Performance"

OPENDOOR

"SoftBank Invests $400 Million in Home-Selling Startup Opendoor"

SLACK

"Slack Actively Preparing for Early 2019 IPO"

STRIPE

"Stripe, One of Silicon Valley's Hottest Startups, Just Raised a $245 Million Monster Round — Making it a $20 Billion Company"

SURVEYMONKEY

“SurveyMonkey's IPO Priced at $12/share“

“SurveyMonkey Surges 42% in Market Debut, Ends Trading at $17 a Share”

Industry News Update – Week of 9/24/2018:

Last week, Eventbrite raised $230 million in its IPO and the company was valued at $1.75 billion. Eventbrite’s shares closed at $36.50 on its first day of trading which represents a 59% increase compared to its original share price.

Farfetch raised $885 million in its IPO and the company was valued at $6.2 billion. Farfetch’s shares closed at $28.45 on its first day of trading which represents a 42% increase compared to its original share price.

Meituan Dianping raised $4.2 billion in its IPO. The company was valued at $50 billion after the company’s share increased 5% in its first day of trading.

Ola’s valuation increased to $4.3 billion after the company raised $50 million.

Postmates’ valuation increased to $1.2 billion after the company raised $300 million.

Coupang surpassed 1 billion 'Rocket Deliveries’.

Lyft reached 1 billion rides on September 18, 2018.

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

COUPANG

"Coupang Has Made 1 Billion Rocket Deliveries"

EVENTBRITE

"Eventbrite's IPO Is a Hot Ticket as Stock Surges 59% in First Day of Trading"

FARFETCH

"Luxury Fashion Marketplace Farfetch Closes at $28.45, up 42% on its First Day of Trading on NYSE”

LYFT

"Lyft Hits a Major Milestone: 1 Billion Trips"

MEITUAN DIANPING

"China's App for Everything Meituan Dianping Jumps in IPO"

OLA

"Ola Raises $50M at a $4.3B Valuation From Two Chinese Funds"

POSTMATES

"Postmates Raises Another $300M, Reportedly Valued at $1.2B"

Industry News Update – Week of 9/17/2018:

Last week, Palantir selected Morgan Stanley as its adviser-of-choice for its upcoming IPO.

 Pinterest recorded 250 million monthly active users which represents a 25% increase compared to its monthly active users last September.

 WeWork acquired Teem, an office management software firm, to inform employers that they have booked conference rooms and perform analytics to determine underutilized conference rooms.

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

 

PALANTIR

"Morgan Stanley’s Long Romance of Palantir Pays Off as IPO Nears"

PINTEREST

"Pinterest Reports 25% Increase in Monthly Active Users"

WEWORK

"WeWork Acquires Utah Software Startup Teem for a Reported $100 Million"

Industry News Update – Week of 9/10/2018:

Farfetch announced its price range of its IPO as $15 to $17 per share which translates to a valuation of $4.2 billion.

Eventbrite also announced its price range of its IPO as $19 to $21 per share which translates to a valuation of $1.8 billion.

Unity's CFO departed from his role for undisclosed reasons.

Roblox's valuation increased to more than $2.5 billion after the company raised $150 million.

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

EVENTBRITE

"Eventbrite Sets IPO Range of $19 to $21, Valuing it at $1.8B"

FARFETCH

"Farfetch IPO carries luxury price tag"

ROBLOX

"Roblox Raises $150 Million as its User-created Game World Surpasses 70 Million Players"

UNITY

“Fast-growing Game Engine Startup Unity Loses its CFO"

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

Last week, Uber's valuation increased to $72 billion after the company raised $500 million from Toyota to collaborate on its autonomous vehicle initiatives.

Lyft hired Class V Group LLC as its IPO adviser and expects to list in March or April in 2019.

Instacart is now available to 70 percent of all U.S. households.

Meituan Dianping announced its price range of its IPO as HK$60 to HK$72 ($7.64-$9.17) per share which translates to a valuation of $55 billion.

Robinhood’s users can now invest in 250 foreign companies through the use of American depositary receipts.

Didi Chuxing halted its carpooling service after a second passenger was murdered.

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

DIDI CHXUING

"Didi Suspends Carpooling Service in China After 2nd Passenger Is Killed"

INSTACART

"Instacart is Now Available to 70 Percent of U.S. Households"

LYFT

" Lyft Is Said to Hire Adviser to Prepare for Targeted 2019 IPO"

MEITUAN-DIANPING

“China's Meituan Dianping Sets HK IPO Valuation at up to $55 Billion: Sources"

ROBINHOOD

“Robinhood Gives Investors International Targets to Aim For With Launch of ADR Products"

UBER

“Toyota Investing $500 Million in Uber in Driverless-Car Pact"

 

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”

Industry News Update – Week of 8/13/2018:

Last week, Magic Leap released its Magic Leap One product to the public for $2,295.

Slack's valuation was expected to increase to $7 billion after the company planned to raise more than $400 million.

Eventbrite purchased Picatic, a Canadian-based ticketing and event platform, to add talent to its technical department and expand its presence within Canada.  

Ola launched its ride hailing service in the UK.

ByteDance was in talks to raise $2.5 billion to $3 billion. Following this round, the company's valuation could increase to $75 billion.

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

BYTEDANCE

"Fast-growing Chinese Media Startup ByteDance is Raising $2.5B-$3B More"

EVENTBRTE

"Eventbrite Acquires Picatic"

MAGIC LEAP

"Magic Leap's Futuristic

Goggles are Finally Launching — Here's How Much They Cost and How to Buy Them"

OLA

"India’s Uber rival Ola is Headed to Europe with Ride-hailing Launch in the UK"

SLACK

"Slack is Raising $400M+ With a Post-money Valuation of $7B or more"