E82: SpaceX ups tender to $180b, TikTok Shop posts 5m new customer in Nov 2023, Blue Origin to launch rocket, Mistral AI’s $2b valuation, OpenAI contracts with Politico and Business Insider, Harvey’s $700m valuation | Pre-IPO Stock Market Update – Dec 8,

This Week in Pre-IPO Stocks

00:10 | SpaceX ups tender to $180b
- Tender from $175b to $180b, or $97.00/share
- +26.0% from beginning of 2023, +19.8% from last tender in Jul 2023
- Tender is seeing strong demand after SpaceX forecasted StarLink $10b in 2024 revenue vs $0 in 2020
01:28 | TikTok Shop posts 5m new customer in Nov 2023
- Blended social media with shopping
- TikTok offers sellers 100% payouts, covers shipping, and covers discounts
- Brands like Mondelez and Benefit Cosmetics have adopted the service
- TikTok is a ByteDance company, ByteDance is the largest pre-IPO stock globally and is currently executing a $5b buyback at a $268b valuation
03:16 | Blue Origin to launch rocket
- Launch could occur as soon as Dec 18
- Blue Origin was on pause after an uncrewed launch auto-aborted (exploded) in Sep 2022
- Blue Origin’s New Shepard has completed 22 flights, carrying 31 people to space
- Blue Origin is working on a heavy lift rocket (New Glenn) and lunar lander (Blue Moon)
04:18 | Mistral AI’s $2b valuation
- Mistral AI is a large language model provide that competes with OpenAI, Anthropic, and Cohere
- Mistral raised $487m from Andreessen Horowitz, Nvidia, and Salesforce
05:12 | OpenAI contracts with Politico and Business Insider
- ChatGPT to provide users with article summaries, including subscription-based content, with proper attribution and links to the full articles
- Axel Springer, partner of Politico and Business Insider, will also supply content for training OpenAI's AI models
- OpenAI signed a similar agreement with the Associated Press
- OpenAI is currently in the process of closing a tender offer that will value the company at $86b
06:09 | Harvey’s $700m valuation
- Harvey is a AI large language model for lawyers built on top of OpenAI
- Raising $70-$80m at a $700m valuation
- Round led by Kleiner Perkins and Elad Gil
- Harvey already has strategic clients like PwC and Allen & Overy
07:19 | Big capital raises
- VAST Data (vastdata.com) | $118m Series E, $9.1b valuation
- Scalable Capital (de.scalable.capital) | $228m Series E, $2.1b valuation
- MaintainX (getmaintainx.com) | $50m Series C, $900m valuation
- Gecko Robotics (geckorobotics.com) | $173m Series C, $633m valuation
- Pragmatic (pragmaticsemi.com) | $227m Series D, $624m valuation
08:33 | Pre-IPO +1.23% for week
- Week winners: Cohere +21.58%, Klarna +6.52%, Ramp +3.49%, Stripe +3.43%, Snyk +3.33%
- Week losers: Brex -5.30%, Anduril -5.07%, Notion -2.75%, Canva -2.20%, ByteDance -1.04%
- Top valuations: ByteDance $193b, SpaceX $158b, OpenAI $71b, Stripe $50b, Databricks $47b lead in current valuation
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