Business and Economy

Cryptocurrency marketplace Coinbase eyes new round at $8B valuation

Tencent Music files for U.S. offering

Tencent Music, the music streaming subsidiary of Chinese internet giant Tencent, has filed to raise a potential $1 billion in a U.S. public offering. Its IPO filing shows a company that has managed to deliver both fast growth and consistent profits.

Coinbase eyes new round at $8B valuation

Cryptocurrency marketplace Coinbase is reportedly in talks with Tiger Global and current shareholders about securing an investment of up to $500 million for liquidity and expansion. The financing would set a valuation for the San Francisco company of around $8 billion.

Elastic stretches IPO range

Open source-powered search and analysis platform Elastic has dramatically raised its IPO range. The move by the fast-growing yet still unprofitable company marks yet another bullish signal for tech IPO demand.

Hopper raises $100M for travel app

Montreal-based Hopper, developer of an AI-powered mobile travel booking app, has raised $100 million in a Series D round led by OMERS Ventures. The financing reportedly sets a valuation of around $780 million.

Foursquare picks up $33M

Foursquare announced that it has raised $33 million in a Series F round led by Simon Ventures, Naver, and Union Square Ventures. Founded nearly a decade ago, the company has pivoted in recent years from a primarily consumer-facing social app to an enterprise platform offering location-based data.

Upwork way up in market debut

Freelance marketplace Upwork went public and did very well. Shares closed up more than 40 percent in first-day trading, after pricing above the projected range. It’s the latest in a string of favorable IPOs for unprofitable companies.

Hortonworks, Cloudera merge in $5.2B deal

Hortonworks and Cloudera, two leading providers of enterprise data services based on open source Hadoop software, announced an all-stock merger. The combined value of the two companies is around $5.2 billion, based on closing prices of their stocks prior to the announcement.

Jfrog raises $165M, joins unicorn club

Jfrog, a developer of tools for managing large software projects, closed a $165 million Series D round led by Insight Venture Partners. The latest financing sets a valuation of over $1 billion for the San Francisco-based company.

Palo Alto Networks buys RedLock

Palo Alto Networks is spending $173 million to acquire Silicon Valley-based RedLock, a three-year-old provider of security software for cloud deployments that had previously raised $12 million in venture funding.

Here are all the IPOs

Crunchbase News is tracking all the tech companies that have gone public on U.S. exchanges so far this year, including a look at early valuations and capital raised.

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