Pre-IPO Sector News Update

May 26, 2020

Last week, ByteDance hired Kevin Mayer as TikTok’s new CEO. Mayer was previously an executive at Disney who was critical in the development of the Disney Plus streaming service.

Couchbase raised $105 million in its Series G funding round.

Magic Leap raised $350 million in a funding round.

MasterClass raised $100 million at roughly $800 million valuation.

Rent the Runway was raising $25 million at roughly a $750 million valuation.

Samsara raised $400 million at a $5.4 billion valuation.

Two weeks ago, Discord was rumored to be raising funds at a valuation between $3 billion and $4 billion.

BYTEDANCE

“Disney Streaming Chief Kevin Mayer Resigns to Become TikTok CEO"

• https://www.theverge.com/2020/5/18/21262872/disney-plus-streaming-kevin-mayer-tiktok-ceo-bytedance-coo

COUCHBASE

“Couchbase Raises $105M Series G Funding Round"

• https://techcrunch.com/2020/05/21/couchbase-raises-105m-series-g-funding-round/

DISCORD

“Discord in Talks to Raise Funds at a $3 Billion-Plus Valuation"

• https://www.bloomberg.com/news/articles/2020-05-15/chat-firm-discord-buoyed-by-lockdown-in-talks-to-raise-funds

MAGIC LEAP

“Virtual Reality Headset Company Magic Leap Raises $350 Million"

• https://pulse2.com/magic-leap-350-million/

MASTERCLASS

“MasterClass Just Raised $100 Million To Produce More Celebrity Edutainment"

• https://www.forbes.com/sites/susanadams/2020/05/20/masterclass-just-raised-100-million-to-produce-more-celebrity-edutainment/#779cf8b53428

RENT THE RUNWAY

“New Round Drops Rent the Runway Value Below the 'Unicorn' Mark"

• https://www.bizjournals.com/bizwomen/news/latest-news/2020/05/rent-the-runway-new-round-unicorn.html?page=all

SAMSARA

“AllianceBernstein Backs Samsara at $5.4 Billion Valuation"

• https://www.bloomberg.com/news/articles/2020-05-20/allianceberstein-among-samsara-backers-at-5-4-billion-valuation