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.
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.
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.
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 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.
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 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, 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 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.
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.