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.
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.
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.
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.
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.
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.
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, 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.
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.Share this Post
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