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[…]
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[…]
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[…]
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[…]
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[…]
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[…]
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[…]
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[…]
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[…]
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[…]