Pre-IPO Sector News Update

April 13, 2021

• Last week, Acorns acquired Pillar, a debt management platform.

• Better raised $500 million at a $6 billion valuation.

• Canva raised $71 million at a $15 billion valuation.

• Coinbase released its Q1 2021 results prior to its IPO on April 14th.

• Compass raised $450 million in its IPO at a $7 billion valuation.

• Didi Chuxing confidently filed documents for its IPO and was raising $1.5 billion in debt.

• Grand Rounds merged with Doctors on Demand.

• Patreon raised $155 million at a $4 billion valuation.

• StockX closed its $195 million secondary tender offering led by Altimeter Capital and raised an additional $60 million as a part of its Series E-1 round at a $3.8 billion valuation. 

• Trax raised $640 million in its Series E round.

• In its latest regulatory filing, UiPath planned to sell its shares at a range of $43 per share to $50 per share, raising roughly $1.06 billion at the top end of the range which translates to a $26 billion valuation.

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

ACORNS

“Acorns’ New Fintech Target is Debt Management with Acquisition of Pillar”

• https://techcrunch.com/2021/04/07/acorns-scoops-up-pillar-a-fintech-backed-by-kleiner-perkins/

BETTER.COM

“SoftBank Invests $500 Million in digital Mortgage Lender Better.com”

• https://www.cnbc.com/2021/04/08/softbank-invests-500-million-in-digital-mortgage-lender-bettercom.html

CANVA

“Aussie Design Startup Canva’s Valuation Balloons to $15 Billion”

• https://fortune.com/2021/04/06/aussie-design-startup-canvas-valuation-balloons-to-15-billion/

COINBASE

“Coinbase Announces First Quarter 2021 Estimated Results and Full Year 2021 Outlook”

• https://www.businesswire.com/news/home/20210406006015/en/

COMPASS

“SoftBank-Backed Compass IPO Raises $450 Million at Low End”

• https://www.bloomberg.com/news/articles/2021-04-01/compass-prices-ipo-at-bottom-of-range-to-raise-450-million

DIDI CHUXING

“ China’s Didi Chuxing Raising $1.5 Billion in Debt as it Nears Blockbuster IPO: Reports”

• https://www.cnbc.com/2021/04/09/didi-chuxing-raising-1point5-billion-in-debt-ahead-of-ipo-reports.html

“Didi Chuxing Has Filed Confidentially for U.S. IPO”

• https://www.bloomberg.com/news/articles/2021-04-09/didi-chuxing-is-said-to-have-filed-confidentially-for-u-s-ipo-knaqvotf

GRAND ROUNDS

“Grand Rounds Merges with Doctor On Demand to Form Multibillion-Dollar Digital Health Company”

• https://www.cnbc.com/2021/03/16/grand-rounds-doctor-on-demand-merge-in-multibillion-dollar-deal.html

PATREON

“Patreon’s Valuation Triples to $4 Billion as Platform Draws Creators, Fans”

• https://www.wsj.com/articles/patreons-valuation-triples-to-4-billion-as-creators-and-fans-flock-to-platform-11617762374

STOCKX

“Sneaker Reseller StockX’s Valuation Jumps to $3.8 Billion”

• https://www.cnbc.com/2021/04/08/sneaker-reseller-stockxs-valuation-jumps-to-3point8-billion-.html

TRAX

“ Singapore-based Retail Analytics Company Trax Raises $640M Series E Led by SoftBank Vision Fund 2 and BlackRock”

• https://techcrunch.com/2021/04/07/singapore-based-retail-analytics-company-trax-raises-640m-series-e-led-by-softbank-vision-fund-2-and-blackrock/

UIPATH

“Software Maker UiPath Aims for Nearly $26 Billion Valuation in U.S. IPO”

• https://finance.yahoo.com/news/software-maker-uipath-aims-nearly-115400196.html