Pre-IPO Sector News Update

February 22, 2021

• Last week, Brex applied for a bank charter and hired Bruce Wallace to head its new Brex Bank initiative.

• Coinbase completed several secondary transactions with the highest trade completed at $373 per share, which valued the company at $100 billion.

• GoPuff acquired Fancy, a UK based micro fulfillment delivery firm.

• Marqeta confidentially filed documents for its upcoming IPO.

• SpaceX raised $850 million at a $74 billion valuation.

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

BREX

“Brex Applies For Bank Charter, Taps Former Silicon Valley Bank Exec as CEO of Brex Bank”

• https://techcrunch.com/2021/02/19/brex-applies-for-bank-charter-taps-former-silicon-valley-bank-exec-as-ceo-of-brex-bank/

COINBASE

“Coinbase Valued Above $100 Billion, Ahead of Direct Listing”

• https://www.axios.com/coinbase-valued-100-billion-direct-listing-9b43e316-7ff7-4f6a-a1db-4dc2481a93ee.html

GOPUFF

“Delivery Company GoPuff is in Talks to Acquire the UK’s Fancy”

• https://techcrunch.com/2021/02/15/go-fancy/

MARQETA

“Marqeta Files With SEC, Could IPO In April”

• https://www.pymnts.com/news/ipo/2021/marqeta-files-with-sec-could-ipo-april/

SPACEX

“ Elon Musk’s SpaceX Raised $850 Million, Jumping Valuation to About $74 Billion”

• https://www.cnbc.com/2021/02/16/elon-musks-spacex-raised-850-million-at-419point99-a-share.html