Facebook shares plummets 19% as user growth stalls

Facebook plummets as user growth stalls

Shares of Facebook were down around 19 percent, shedding close to $120 billion in market cap, after the social media giant reported quarterly earnings that showed its slowest-ever user growth rate and warned of lower revenue growth in coming quarters. The results are dragging down Snap and Twitter as well.

Pinduoduo raises $1.6B in IPO

Chinese e-commerce upstart Pinduoduo reportedly raised $1.6 billion for its IPO after pricing shares at the top of the proposed range. The offering is said to value the operator of the fast-growing group buying platform at nearly $24 billion.

GrubHub buys Levelup for $390M

Food delivery service Grubhub is acquiring LevelUp, a platform for managing digital restaurant orders and loyalty programs, for $390 million in cash. Boston-based LevelUp previously raised $107 million in venture funding.

Here’s when $100M rounds took over

The rise of supergiant venture funding rounds continues. This month alone, at least 43 companies raised rounds of $100 million or more, bringing in over $12 billion. Crunchbase News takes a look at when the giant round trend took off, and where it’s headed.

Bio home runs happen stealthily

For bio startup investors, the largest profits often come long after a public offering or acquisition. Crunchbase News takes a look at some examples, like cancer immunotherapy company Juno Therapeutics, that returned in a big way years after IPO.

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Bloom Energy Prices IPO

Bloom Energy, the Silicon Valley-based maker of power generators based on solid oxide fuel cell technology, raised $270 million in its IPO, pricing shares at the high end of the proposed range.

Face recognition startups zooming in on $1.6B

China’s two most prominent facial recognition startups, Megvii and Sensetime, are on track to raise $1.6 billion in two separate mega-funding rounds. Sensetime is reportedly nearing a $1 billion fundraise from SoftBank, while Megvii is eyeing $600 million from Alibaba and Boyu Capital.

Upwork files quietly for IPO

Upwork, an online marketplace for freelance professionals, has reportedly submitted a confidential filing for a public offering. The company was formed five years ago with the merger of rival freelancer platforms ODesk and Elance.

Tracking Pinterest’s path to IPO

Pinterest, the image-based social network valued at a little over $12 billion last year, is the latest famous unicorn to reportedly plan a 2019 IPO. The planned offering comes as both revenues and monthly active users continue to grow at a surprisingly fast clip, a Crunchbase News analysis finds.

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