Pre-IPO Sector News Update

October 12, 2020

• Last week, Affirm confidentially filed documents for its upcoming IPO.

• Clover Health was acquired by Social Capital Hedosophia Holdings Copr. III, a SPAC, for $3.7 billion.

• Instacart raised $200 million at a $17.7 billion valuation.

• Marqeta received an undisclosed investment from MasterCard.

• Segment was acquired by Twilio for $3.2 billion.

• Two weeks ago, Better was raising $100 million at a $4 billion valuation.

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

AFFIRM

“ Max Levchin's Affirm Confidentially Files for U.S. IPO”

• https://www.reuters.com/article/us-affirm-ipo-idUSKBN26T389

BETTER

“Better.com in Talks to Raise $100M at $4B Valuation: Report”

• https://www.housingwire.com/articles/better-com-in-talks-to-raise-100m-at-4b-valuation-report/

CLOVER HEALTH

“Clover Health to go Public as SPAC Merger Values Medicare Advantage Insurer at Nearly $4 Billion”

• https://www.marketwatch.com/story/clover-health-to-go-public-as-spac-merger-values-medicare-advantage-insurer-at-nearly-4-billion-11601998780

INSTACART

“Instacart Raises $200M More at a $17.7B Valuation”

• https://techcrunch.com/2020/10/08/instacart-raises-200m-more-at-17-7b-valuation/

MARQETA

“ Mastercard Invests in Marqeta”

• https://www.finextra.com/newsarticle/36721/mastercard-invests-in-marqeta

SEGMENT

“Twilio to Buy Cloud Customer Data Startup Segment for $3.2 Billion”

• https://www.reuters.com/article/us-segment-m-a-twilio/twilio-to-buy-cloud-customer-data-startup-segment-for-3-2-billion-idUSKBN26X1IM