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Coupang tops $88B valuation in market debut

From Pitchbook: Coupang surged over 40% in its trading debut, valuing the South Korean ecommerce company at $88.3 billion on a fully diluted basis. Coupang raised $4.6 billion in its IPO, one of the year’s biggest, after pricing its shares at $35 apiece. Shares closed Thursday at $49.25 each on the NYSE. SoftBank‘s 33% stake in[…]

IPO

Roblox valued at $45.3B in record-setting direct listing

From Pitchbook: Roblox has completed its long-awaited direct listing on the NYSE, with shares closing at $69.47 for a fully diluted value of $45.3 billion—a gargantuan valuation for a video game company that rose to prominence and saw massive growth during the pandemic. Roblox’s valuation in its debut makes it the most valuable gaming company to[…]

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BlockFi Raises $350M Series D, Coupang Prices IPO, And More

From Crunchbase news: BlockFi valued at $3B after $350M Series D Financial services company BlockFi, which provides zero-fee trading and crypto-based interest accounts, announced $350 million in Series D funding, co-led by Bain Capital Ventures, DST Global, Pomp Investments and Tiger Global, to give the company a $3 billion valuation. Additional backers in the round include Valar Ventures, Breyer Capital, Susquehanna Government Products, Jump Capital and Paradigm.[…]

IPO

U.S. payments startup Marqeta files with regulators for IPO – source

From Reuters: (Reuters) – U.S. payment card issuing start-up Marqeta Inc on Tuesday filed confidentially with the U.S. Securities and Exchange Commision for a proposed initial public offering (IPO), according to a person familiar with the matter. Marqeta will now await feedback from the SEC on its filing and hopes to complete its IPO as[…]

SpaceX begins accepting $99 preorders for its Starlink satellite internet service as Musk eyes IPO

From CNBC: Elon Musk’s SpaceX has widened the scope of the public beta test of its Starlink satellite internet service, saying it is accepting preorders from potential customers. Prospective Starlink users can enter a service address on the company’s website, with preorders available for $99. Some regions show preorder messages that say SpaceX is “targeting coverage[…]

Private Equity Firms Seize on IPO Boom With Consumer Assets

From Bloomberg: Private equity firms are refusing to be left out of the initial public offering boom. With technology IPOs sometimes doubling on day one, buyout shops are hoping to capture some of the buzz for their less sexy, slower growth and higher leverage assets. Two private equity-backed companies went public on U.S. exchanges this[…]

SoFi to Go Public Through SPAC Merger at $8.6B Valuation

From Business Wire SoFi, A Leading Next-Generation Financial Services Platform, to Become Publicly-traded via Merger with Social Capital Hedosophia SoFi’s mission is to help people achieve financial independence by getting their money right, providing access to a comprehensive suite of services in a single app that empowers members to borrow, save, spend, invest and protect[…]

IPO

SoftBank-backed online lender SoFi eyes IPO

From The Real Deal: Online lender Social Finance, or SoFi, is the latest SoftBank-backed startup to eye a public offering through a blank-check company. The San Francisco-based company has held talks with several special purpose acquisition companies about an IPO, reported CNBC. SoFi did not comment. CEO Anthony Noto, a former Goldman Sachs banker, has previously said that going[…]

IPO

UiPath Says It Filed Confidentially for IPO, Could Be Valued at More Than $20 Billion

From Bloomberg: UiPath Inc., an automation software maker that could be valued at more than $20 billion, said it has filed confidentially for an initial public offering. The size and price of the offering hasn’t been determined yet, UiPath said in a statement Thursday confirming an earlier report by Bloomberg. The IPO could come in the first[…]

IPO

Coinbase Files For IPO After CEO Issues Warning To Crypto Newbies

From Zero Hedge: With Bitcoin soaring to new record highs and institutional interest accelerating, the world’s best known cryptocurrency exchange – Coinbase Global – has announced that it has begun the process for an IPO. San Francisco-based Coinbase Global said it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The[…]