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Software startup ServiceTitan valued at $8.97 billion as shares jump 42% in Nasdaq debut
Economic Times
·
8m ago
Medial
Cloud-based software company, ServiceTitan, had a successful US market debut, with its shares rising by 42%. This brought the company's valuation to $8.97 billion. The strong performance can be attributed to positive equity markets, anticipated low interest rates, and a promising economic outlook. ServiceTitan joins a group of venture capital-backed companies, including Reddit and Rubrik, that have recently gone public. The success of ServiceTitan's IPO demonstrates increasing investor interest in the public market for IPOs. The company raised about $625 million by selling 8.8 million shares in the offering.
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Chime IPO raises $864 million in long-awaited Nasdaq debut, cuts valuation nearly in half—here’s what it means for fintech’s big revival
Economic Times
·
1m ago
Medial
Chime's IPO on Nasdaq raised $864 million, debuting shares at $27 each, slightly above the expected range. The digital banking service, now trading under CHYM, saw shares jump to around $42, valuing the company at $11.6 billion, significantly lower than its $25 billion valuation in 2021. Despite decreased valuation, Chime's banking services and strong financial backers attracted investor interest, marking a potential revival for fintech IPOs and signalling strong investor interest.
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Software startup ServiceTitan prepares for 2024 IPO
Economic Times
·
1y ago
Medial
ServiceTitan is preparing for its IPO in 2024. The company, which provides software solutions for home services businesses, has seen significant growth in recent years and is now valued at around $8.3 billion. ServiceTitan plans to use the funds raised through the IPO to invest in expansion and continue developing its platform.
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Nvidia-backed CoreWeave's shares open nearly 3% lower in market debut
Economic Times
·
4m ago
Medial
CoreWeave, an AI infrastructure firm backed by Nvidia, had its shares open nearly 3% below the initial public offering price in its Nasdaq market debut. Despite this slight dip, the company was valued at $22.7 billion on a fully diluted basis.
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Bain Capital-backed Heartflow valued at $2.27 billion in solid Nasdaq debut - The Economic Times
Economic Times
·
1d ago
Medial
Medtech firm Heartflow, backed by Bain Capital, saw its shares surge 47.4% in a strong Nasdaq debut, valuing the company at $2.27 billion. The IPO raised $316.7 million by selling about 16.67 million shares at $19 each. Heartflow, known for its AI-enabled heart disease diagnosis tools, benefits from positive market sentiment amid AI-driven gains. Despite wider losses, its revenue rose 39% in the recent quarter, showcasing investor interest in AI healthcare solutions.
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Which startups lost unicorn status last year?
Inshorts
·
1y ago
Medial
According to Hurun's Global Unicorn Index 2024, 42 startups in the world lost their unicorn status last year with their valuation dipping below $1 billion. BYJU'S, once valued at $22 billion, emerged as the biggest dropout in the list, followed by Thrasio, previously valued at $10 billion. Other startups that lost unicorn status are Hopin, PharmEasy, Chipone, Convoy and BlockFi.
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Arm Holdings Soars 18% Above IPO Price in Nasdaq Debut, Valued at Nearly $60 Billion
Business Bytes
·
1y ago
Medial
Shares of Arm Holdings soared 18% above their IPO price on their debut on the Nasdaq, valuing the chip designer at close to $60 billion. This strong start indicates investor confidence in the company's innovative technologies. It also offers hope to other companies considering going public, despite challenges posed by geopolitical issues and interest rate hikes. The success of Arm Holdings' IPO suggests continued investor interest in tech firms, potentially leading to a revival of IPO activity in the tech sector and beyond.
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Swiggy listing rings in robust gains for investors, employees
Economic Times
·
9m ago
Medial
Swiggy's successful $1.3 billion IPO and stock market debut has resulted in significant gains for investors. The company's shares listed at a premium on the stock exchanges, leading to increased total stake value. Prosus, the biggest investor, has tripled its initial investment and now holds shares worth Rs 26,507 crore. SoftBank's investment is now valued at almost $1 billion. Accel, another early backer, has seen an investment multiple of 35 times. Swiggy's CEO and co-founders have also gained substantial value from the listing. The company's market capitalization stood at Rs 1,02,062 crore by the end of the day.
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Ranjan Pai initiates arbitration against Byju's for not repaying loans worth $42 million
Economic Times
·
1y ago
Medial
Edtech company Byju's has been found in breach of $42 million worth of loans and has been instructed by an arbitrator to refrain from selling certain shares of a group company, according to a confidential order. This adds to the company's existing challenges, including allegations of mismanagement. Byju's, once valued at $22 billion, has faced audit issues, regulatory inquiries, and calls for the removal of its CEO. The latest dispute involves MEMG Family Office, led by Indian billionaire Ranjan Pai, who initiated arbitration proceedings against Byju's for failing to repay loans. Byju's is currently valued at approximately $250 million and denies any wrongdoing.
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Mukesh Ambani rejoins $100 billion club as Reliance stock surges record 2.6%
Livemint
·
1y ago
Medial
Mukesh Ambani, the chairman of Reliance Industries Ltd, has seen an increase of $2.8 billion in his wealth, bringing it to a total of $101.8 billion, making him the richest person in India and Asia. This marks his return to the $100-billion club for the first time since June 2022. Ambani owns 42% of Reliance, a conglomerate with interests in energy, telecommunications, and retail. The company's shares have risen 2.6% to a record high, driven by a jump in quarterly profit and a diversification into technology and renewable energy.
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Indian hotel operator Samhi Hotels' IPO oversubscribed five times
Reuters
·
1y ago
Medial
Indian hotel operator, Samhi Hotels, has seen its initial public offering (IPO) oversubscribed by over five times, with bids worth $504 million, according to exchange data. The company, which operates Marriott, Hyatt, and IHG hotels in India, received bids for 333 million shares, significantly exceeding the 62.5 million shares on offer. The IPO, valued at INR 13.7 billion ($182 million), comprises a fresh issue of shares and an offer-for-sale from existing investors. The proceeds will be used to repay debt. Samhi Hotels is expected to make its trading debut next week.
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