Pre-IPO Sector News

July 26, 2021

  • Last week, Byju’s acquired Epic, a children’s online reading platform, for $500 million.

  • Couchbase raised $200 million in its IPO at roughly $960 million valuation.

  • Currencycloud was acquired by Visa for £700 million ($962 million).

  • Epic Games acquired Sketchfab, a 3D publishing platform.

  • Ethos Life raised $100 million at $2.7 billion valuation.

  • GoPuff was raising $1 billion at a $15 billion valuation.

  • Rivian raised $2.5 billion in a new funding round.

  • Scopely invested $50 million into three European mobile game studios (Omnidrone, Tag Games and Pixel Toys) to develop mobile games.

  • Zomato raised $1.26 billion in its IPO at roughly $8 billion valuation.

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Kirat Lall
Pre-IPO Sector News Update

July 19, 2021

  • Last week, Amplitude confidentially filed documents for its IPO.

  • Blend Labs raised $360 million in its IPO at roughly a $4 billon valuation.

  • Carta was raising between $500 million and $600 million at a $7.4 billon valuation.

  • Cybereason raised $275 million at a $3.1 billion valuation.

  • Discord acquired Sentropy, a software that detects and removes online harassment.

  • Revolut raised $800 million at a $33 billion valuation.

  • In its latest regulatory filing, Robinhood planned to sell its shares at a range of $38 per share to $42 per share, raising roughly $2.3 billion at the top end of the range which translates to a $35 billion valuation.

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Kirat Lall
Pre-IPO Sector News Update

July 12, 2021

  • Last week, Circle Internet Financial planned to be acquired by Concord Acquisition Corp, a SPAC, in a deal that values the company at $4.5 billion.

  • Dataminr acquired WatchKeeper, a security visualization software.

  • Flipkart raised $3.6 billion at a $37.6 billion valuation.

  • Instacart appointed Fidji Simo as its new CEO. Simo previously worked as the Head of Facebook’s App division.

  • Klarna acquired Hero, a software that connects online shoppers to retail workers.

  • Kurly raised $200M at a $2.2 billion valuation.

  • Netskope raised $300 million at a $7.5 billion valuation.

  • Nextdoor planned to be acquired by Khosla Ventures Acquisition Co. II, a SPAC, in a deal that values the company at $4.3 billion.

  • Ola was raising $500 million in a new funding round.

  • Planet Labs planned to be acquired by dMY Technology Group Inc IV, a SPAC, in a deal that values the company at $2.8 billion.

  • Wise (formerly TransferWise) went public via a direct listing that valued the company at $11 billion.

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Kirat Lall
Pre-IPO Sector News

July 7, 2021

  • Last week, Didi Chuxing raised $4.4 billion in its IPO at a $73 billion valuation (fully diluted basis). A few days following Didi’s IPO, China’s cybersecurity division decided to remove Didi’s app from the app store due to Didi’s improper collection of customer’s personal information.

  • Discord acquired Ubiquity6, an augmented reality startup.

  • Duolingo filed its S1 for its upcoming IPO.

  • Robinhood filed its S1 for its upcoming IPO.

  • Roman Health (Ro) acquired Kit, an at-home diagnostics startup.

  • SentinelOne raised $1.2 billion in its IPO at a $10.5 billion (fully diluted basis).

  • ServiceTitan raised $200 million at a $9.5 billion valuation. In addition, the company acquired Aspire Software, a commercial landscaping startup.

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Dominic Cioffi
Pre-IPO Sector News Update

June 28, 2021

  • Last week, Buzzfeed planned to be acquired by 890 Fifth Avenue Partners, a SPAC, in a deal that values the company at $1.5 billion. The company also acquired Complex Networks, a digital publisher that specializes in content for Gen Z and Millennials , for $300 million.

  • Confluent raised $828 million in its IPO at roughly $9 billion valuation.

  • Robinhood’s IPO was delayed due to the SEC investigation of its growing crypto business.

  • Quanergy planned to be acquired by CITIC Capital Acquisition Corp, a SPAC, in a deal that values the company at $1.4 billion.

  • Wise (formerly TransferWise) confirmed that they will be performing a direct listing on the London Stock Exchange in early July at a valuation between $6 billion and 7 billion.

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Dominic Cioffi
Pre-IPO Sector News Update

June 21, 2021

  • Last week, Addepar raised $150 million at a $2 billion pre-money valuation.

  • Anduril raised $450 million at a $4.6 billion valuation.

  • Automattic acquired Day One, a journaling application.

  • Gusto acquired Ardius, a tax automation compliance suite.

  • Keeptruckin raised $190 million at a $2.3 billion valuation.

  • Revolut disclosed some key statistics related to its 2020 financials. The company generated $361 million in revenue which represents a 57% increase compared to its 2019 revenue. Gross profit was roughly $170 million and total non-adjusted operating loss was approximately $277 million in FY 2020.

  • In its latest regulatory filing, SentinelOne planned to sell its shares at a range of $26 per share to $29 per share, raising $928 million at the top end of the range which translates to $7.36 billion valuation.

  • Two weeks ago, Amplitude raised $150 million at a $4 billion pre-money valuation.

  • BlockFi was raising a new funding round at a $5 billion valuation.

  • Datarobot was raising a new funding round at a valuation greater than $7 billion.

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Kirat Lall