Business and Economy

Stripe hits $20B valuation as Satellite radio provider SiriusXM said it would buy Pandora for $3.5b

Stripe hits $20B valuation

Stripe has just processed its largest payment to date. The startup confirmed closing a $245 million funding round at a valuation of $20 billion, more than double what the San Francisco-based payment tech company was worth about two years ago.

Bitmain files for IPO

China-based Bitmain, the world’s largest provider of crypto mining hardware, filed to go public in Hong Kong. Revenues have surged in recent quarters, passing $2.8 billion in the first half of 2018.

Compass, Opendoor snag $400M each

The deluge of giant funding rounds continues. The latest are two U.S. real estate-focused unicorns that just raked in $400 million each. Compass, a real estate buying and selling platform, secured a round led by SoftBank and the Qatar Investment Authority at a $4.4 billion valuation. Meanwhile, SoftBank also backed the latest big round for Opendoor, a service providing fast home sales.

Darktrace secures Series E

Cybersecurity provider Darktrace raised $50 million in a Series E round led by Vitruvian Partners. The financing brings total funding to date for the five-year-old company to around $230 million.

Sirius buying Pandora for $3.5B

Satellite radio provider SiriusXM said it would buy Pandora, the publicly traded music streaming service, for $3.5 billion in stock. The offer represents about a 14 percent premium over Pandora’s recent trading range.

Corporate venture deals climb

So far, 2018 is on track to set a record for U.S. corporate involvement in venture deals, according to a Crunchbase News analysis of the top 100 U.S.-based public companies. The number of rounds these big corporations invest in is hitting the highest point in at least a decade, driven by a strong appetite for seed and early stage deals.

Convoy raises $180M for trucking

Convoy, developer of an app to connect shippers with truckers, raised $180 million in a funding round led by Alphabet’s CapitalG that values the three-year-old, Seattle-based company around $1 billion.

Indy emerges as startup hub

Indianapolis is emerging as a growing hub for tech startups, boosted by a sizable local talent pool, low cost of doing business, and increasingly active pool of investors

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