E78: Shein IPO!, Canva IPO!, Anthropic +42% in 2ndary market, $323m for Neuralink | Pre-IPO Stock Market Update – Dec 1, 2023

This Week in Pre-IPO Stocks

00:08 | Shein files for US IPO
- $32b 2023 revenue run rate, +41% from 2022 … following a 45% year over year increase 2022 vs 2021
- $66b as of May 2023 Series G; Sequoia Capital, General Atlantic, Mubadala invested
- Goldman Sachs, JPMorgan, Morgan Stanley are lead underwriters for IPO
01:41 | Neuralink raises $323m
- Neuralink offers brain-computer interface solutions to help people paralysis, neurodegenerative diseases, or simple connect their brain to the internet
- $43m additional capital raised last week to finalize a $323m Series D
- $3.5b valuation for this Series D, 66% increase from prior round
03:05 | Canva to IPO in 2025
- Canva provides graphic design tools, infused with AI, to make the layperson a graphic design/marketing savant
- $2.0b in annualized revenue, 50% yearly growth rate, positive cash flow
- Tender sale happening now, tbd on valuation
- $25b secondary market valution
04:21 | CEO Zhao out at Binance
- US Treasury Dept fines Binance after violations of Bank Secrecy Act (i.e. bad AML controls); $4.3b for firm, $50m for CEO
- Changpeng Zhao, Binance CEO, is out and Richard Teng, Binance head of regional markets, is new CEO
05:19 | Anthropic up +42.5% this week
- Anthropic is an OpenAI ChatGPT competitor
- +42% in the secondary market last week as a result of the OpenAI board/CEO snafu
- $40b secondary market valuation, +61% from Oct 2023 round at $25b just 1 month ago
05:50 | Big capital raises
- Envision AESC (aesc-group.com) | $1.5b Series C, $10.0b valuation
- Neuralink (neuralink.com) | $323m Series D, $3.5b valuation
- AI21 Labs (ai21.com) | $208m Series C, $1.4b valuation
- BioCatch (biocatch.com) | $70m Series D, $1.1b valuation
- Rokid Technology (global.rokid.com) | $112m Series I, $1.0b valuation
07:24 | Pre-IPO +1.14% for week
* NOTE: Neuralink's Nov 22, 2023 primary round valuation at $3.52b now included in the analysis below
- Week winners: Anthropic +42.49%, Neuralink +5.65%, Klarna +3.17%, Databricks +1.64%, SpaceX +1.42%
- Week losers: Ramp -7.17%, Rippling -5.57%, Notion -3.20%, Revolut -2.84%, Chainalysis -1.46%
- Top valuations: ByteDance $201b, SpaceX $157b, OpenAI $77b, Stripe $48b, Databricks $46b lead in current valuation
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