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Rent the Runway Stock Closes Below IPO Price On First Day Of Trading

By Sophia Kunthara,   Shares of clothing rental company Rent the Runway ended their first day of trading below the company’s IPO price, closing at $19.29. Rent the Runway’s first day as a public company started off strong. Its stock opened nearly 10 percent above its IPO price on Wednesday, as the New York-based startup began trading[…]

VCs Will Spend Billions More To Make The Metaverse A Reality

By Sophia Kunthara, Almost three decades since sci-fi author Neal Stephenson coined the phrase, the metaverse is moving closer to reality. But despite well over $10 billion in venture funding going toward the concept already this year and high-profile bets by Big Tech players, those in the industry say much more capital is poised to[…]

Rivian Charges On To Wall Street As Largest IPO Of The Year

By Sophia Kunthara, Electric vehicle maker Rivian closed out its first day of trading at 29 percent above its initial public offering price, after an upsized IPO. The company raised around $12 billion through its IPO after pricing its shares at $78 apiece, above its previously stated range of between $72 and $74. Rivian’s IPO is the[…]

Udemy IPO : What To Know About Its Growth And Biggest Winners

By Janice Bitters Turi, Online learning platform Udemy is expected to start trading on the Nasdaq Friday in an IPO that could raise more than $400 million. The San Francisco-based company expects its 14.5 million common shares to be priced between $27 and $29, targeting a valuation between $3.71 billion and about $4.05 billion, up from the $3.3 billion[…]

Allbirds Stock Closes 91% Above IPO Price On First Day Of Trading

By Sophia Kunthara, Direct-to-consumer shoe company Allbirds’ stock closed at $28.64 on Wednesday, nearly 91 percent above its IPO price. The company raised around $303 million through its IPO after pricing its shares at $15 apiece. Allbirds set an IPO price range of between $12 and $14 per share, and the company’s stock opened Wednesday at[…]

DOGE-1 moon mission set for launch with SpaceX in early 2022

By Sam Bourgi. The Dogecoin-funded payload appears to be on track for launch in the first quarter of 2022 onboard SpaceX’s Falcon 9. NEWS   DOGE-1, the first crypto-funded mission to the moon, is set to launch early next year following a new partnership between two blockchain companies and manufacturer Geometric Energy Corporation, also known[…]

‘Musk effect’ sees crypto named after SpaceX’s Starlink satellites gain over 140% in 3 days

By Yashu Gola, The supersonic price rally in the StarLink crypto market appeared as SpaceX launched 53 Starlink orbit satellites into space on Saturday. In a bizarre event, a cryptocurrency with the same name as SpaceX’s satellite range Starlink jumped over 140% as Elon Musk’s space technology company launched 53 of them into the Earth’s lower[…]

Tiger Global: How to Win

From Generalist Tiger Global is venture capital’s winning machine. Actionable insights If you only have a couple of minutes to spare, here’s what investors, operators, and founders can learn about Tiger Global. We may be earlier than we thought. Tiger’s current private market thesis is simple: we are still in the opening stages of the[…]

KuCoin Labs Launches $100 Million Venture Capital Fund To Empower Early-Stage Metaverse Projects

By Zhiyuan Sun,   The world’s sixth-largest cryptocurrency exchange by volume is making its move into the metaverse. NEWS   KuCoin Labs, the company behind the world’s sixth-largest cryptocurrency exchange by trading volume with more than 500 crypto assets listed, announced on Wednesday that it would be launching a $100 million metaverse fund for early-stage[…]

China warns state-owned enterprises to cease involvement in Bitcoin mining

By Arnold Kirmi, China is considering imposing harsh penalties on state-owned firms that continue mining cryptocurrencies. China is pressuring its own state-owned businesses to cease mining cryptocurrencies, and the government is considering harsh penalties on firms that continue, including higher energy expenses. According to reports, Meng Wei, a spokesperson for the National Development and Reform Commission[…]