|
|
|
|
|
ByteDance in talks with India's Reliance on possible TikTok deal
|
|
 |
| (Drew Angerer/Getty Images) |
|
|
ByteDance has been in talks with Indian conglomerate Reliance Industries on a potential deal for TikTok in India, according to TechCrunch.
India banned the short-video app June 29 along with 58 other Chinese apps after geopolitical tensions flared between the two countries. A possible deal for TikTok could reportedly reinstate the app in India, as Reliance owner Mukesh Ambani has a cozy relationship with Indian Prime Minister Narendra Modi. Reliance also owns digital services giant Jio Platforms, which has grabbed over $20 billion this year from a long list of investors including Facebook and Google.
TikTok is reportedly valued at $3 billion in India and claims to have over 200 million users in the country, making it the app's biggest overseas market.
Earlier this month, Microsoft confirmed it was exploring a deal to buy TikTok's operations in North America, Australia and New Zealand. The tech giant is up against a Sept. 20 deadline to finalize a deal after President Trump signed an executive order that would ban the video app and the WeChat messaging app in the US if they're not sold by their Chinese parent companies. |
|
|
|
|
|
|
|
|
|
Infosec remains resilient in the face of COVID-19
|
|
 |
Microsoft's $165 million acquisition of security vendor CyberX led M&A activity in the infosec sector in Q2.
(Jeenah Moon/Getty Images) |
|
|
The pandemic has caused a flight to quality in information security, with late-stage VC investments outstripping early-stage activity and deal value staying strong. Infosec companies raised $1.9 billion in venture funding last quarter, driven mostly by large deals in a few key segments, including data security and security operations.
Infosec as a whole is estimated to be a $124 billion market this year, according to PitchBook's Emerging Tech analysts, and growth is expected to continue in security software despite the coronavirus. Other key findings in our newest report include:
- VC exit activity was minimal, with 14 deals and $173 million in disclosed value in Q2—both the lowest totals since Q4 2016
- PE firms completed only one buyout last quarter, but they're well-positioned to pick up discounted assets in a recovery
- Infosec has a better outlook than IT overall this year, as leading incumbents have maintained or improved revenue forecasts as of Q1 earnings
If you have any questions or feedback about the research, we'd love to hear from you: analystresearch@pitchbook.com |
|
|
|
|
|
|
|
|
|
|
|
Share your insights with the right audience
|
|
The scope of our industry reports expanded in 2020, now including several brand-new series dedicated exclusively to reviewing global private fund strategies, real assets, private debt, European venture valuations and more.
With each series comes the opportunity for partnership with PitchBook, to not only advertise your firm's capabilities, but also share your insights into each specific field. Whether it's the most pertinent regulatory developments in European venture or the consequences of democratizing access to alternatives for fundraising, your insights and capabilities can be showcased in these reports by partnering with us and reaching nearly a million professionals in the private markets.
Contact us to learn more |
|
|
|
|
|
|
|
|
|
|
The short-term rental industry has long been driving locals out of European tourist traps like Lisbon. Amid the pandemic, efforts to tighten regulations on Airbnb and others are heating up. [Intelligencer]
What happens when parents living in different countries have very different opinions about their child's custody? Sometimes, they turn to the dark, murky world of corporate kidnapping. [The New York Times]
Alphabet dreamed of building its smart city of the future on the south Toronto shore. The Torontonians themselves, though, had a different idea. [OneZero] |
|
|
|
|
|
|
|
|
|
|
Since yesterday, the PitchBook Platform added:
|
|
2
VC valuations
|
1389
People
|
415
Companies
|
7
Funds
|
|
|
|
|
|
|
| |
|
|
|
|
| |
|
|
|
2017 Vintage Global Buyout Funds
|
|
|
|
|
|
|
|
|
|
|
Allbirds in fundraising talks
|
|
| Allbirds, the trendy maker of natural fiber shoes, is reportedly in talks with Franklin Templeton about a new funding round. Bloomberg reported that the fundraising would be at an unspecified valuation step-up from the company's 2018 round, which valued San Francisco-based Allbirds at $1.4 billion, according to PitchBook data. |
|
|
|
|
|
|
|
Ralph Lauren invests in Natural Fiber Welding
|
|
| Ralph Lauren has taken a minority stake in Natural Fiber Welding, a startup that makes high-performance textiles from reused natural fibers. The famed retailer will help Natural Fiber Welding secure patents and develop apparel using the technology. The Peoria, Ill.-based company recently raised $8.4 million, according to an SEC filing, and has received some $1.3 million in grant funding from the US government's SBIR program. |
|
|
|
|
|
|
|
Impossible Foods lands $200M in new funds
|
|
| Impossible Foods has snapped up $200 million in a Series G round led by new investor Coatue. Existing backers Mirae Asset Global Investments and Temasek and new investor XN also contributed to the round. The foodtech startup raised about $500 million in a Series F in March, and it unveiled a direct-to-consumer site with two-day delivery in the US in June. |
|
|
|
|
|
|
|
PayActiv captures $100M Series C
|
|
| PayActiv, the developer of a financial wellness platform, has raised a $100 million Series C led by Eldridge. Existing backers Generation Partners and Ziegler also participated in the round. The company's platform allows employees to access a portion of earned wages before their payday. PayActiv currently offers the service to more than 4 million employees at over 1,000 businesses. |
|
|
|
|
|
|
|
Mission Bio closes $70M round
|
|
| San Francisco-based Mission Bio has raised $70 million in Series C funding led by Novo Growth, with Soleus Capital and existing backers Mayfield, Cota and Agilent also participating. The company's platform is used to analyze genes and proteins for the development of cancer therapies. Mission Bio also added Robert Ghenchev, senior partner and head of Novo Growth, to its board of directors. |
|
|
|
|
|
|
|
Kin Insurance brings home $35M
|
|
| Kin Insurance, a developer of technology for the homeowners insurance market, has raised a $35 million Series B led by Commerce Ventures, with support from Alpha Edison, Flourish Ventures and others. Founded in 2016 and based in Chicago, the startup piloted a platform for consumers in Florida; it plans to use the new capital to expand across the country. To date, it has secured $86 million in funding. |
|
|
|
|
|
|
|
Fundraising specialist pulls in $30M
|
|
| Omaze, the operator of an online fundraising platform, has raised a $30 million Series B led by FirstMark Capital. Tusk Ventures, Inherent Group and others also supported the financing. Founded in 2012, the company raises funds for charities by offering donors the opportunity to win prizes including cars and vacations. It was valued at $87.5 million in April 2019, according to PitchBook data. |
|
|
|
|
|
|
|
Russell Wilson's Tally scores partnership with Facedrive
|
|
| Canada's Facedrive, which offers sustainability services to industries including ridehailing and ecommerce, has agreed to acquire a minority holding in Tally, the Seattle-based provider of a sports predictions platform co-founded by football star Russell Wilson. Facedrive will invest $1 million in cash and $2 million of its own shares, with Tally shareholders becoming beneficial shareholders of Facedrive. |
|
|
|
|
|
|
|
|
|
Apple, Epic Games clash over App Store fees
|
|
| Apple has removed "Fortnite" from its App Store after the popular game began offering customers a way to directly buy items through its app, circumventing rules that require apps to bill through Apple and then pay the tech titan 30% of all revenue. "Fortnite" developer Epic Games countered with a lawsuit claiming the App Store's practices are anti-competitive and monopolistic. Epic raised $1.78 billion in new funding last week at a $17.3 billion valuation. |
|
|
|
|
|
|
|
|
|
Direct listing on Palantir's horizon
|
|
| Palantir Technologies is preparing to go public via direct listing in late September, according to Bloomberg, 16 years after Peter Thiel helped found the data analysis company. An SEC filing from July indicated the Palo Alto-based company had raised nearly $550 million of a planned $961 million in new funding. Palantir was valued at more than $20 billion with an $880 million venture investment in 2016, according to PitchBook data. |
|
|
|
|
|
|
|
KE Holdings stock soars on first trading day
|
|
| Shares of KE Holdings surged 87% on their first trading day on the NYSE, closing at $37.44. Also known as Beike, the Chinese online property company raised $2.1 billion in an IPO that priced at $20 per American depositary share, above an original target range of $17 to $19. The offering was the largest by a Chinese company in the US since online video company iQIYI's in 2018, according to reports. |
|
|
|
|
|
|
|
Facial recognition specialist readies dual IPO
|
|
| SenseTime, a Chinese company using AI to power facial recognition and a range of other technologies, is planning a dual IPO in Hong Kong and China, according to Bloomberg. It is said to be seeking some $1.5 billion in funding at an $8.5 billion valuation before launching the listings. SenseTime's existing backers include SoftBank, Alibaba and Qualcomm Ventures. |
|
|
|
|
|
|
|
Facebook, Snap eyed TikTok rival
|
|
| Facebook and Snap have discussed a potential acquisition of TikTok competitor Dubsmash in recent weeks that could be worth "hundreds of millions of dollars," according to The Information, although the negotiations are no longer believed to be ongoing. Founded in Berlin in 2014 and now based in New York, the lip-syncing video app developer has raised prior funding from General Catalyst, Index Ventures and other backers. |
|
|
|
|
|
|
|
|
|
Two Sigma forms impact arm
|
|
| Quant-based investor Two Sigma has launched Two Sigma Impact, a new strategy that will target what it describes as "workplace impact" investments, with a focus on the consumer, business services, education and healthcare sectors. Part of the firm's private investments group, the unit will target companies that work to help employees realize their potential. Two Sigma Impact's partners include David Saltzman, the longtime executive director of the Robin Hood Foundation, and Warren Valdmanis, who helped launch Bain Capital Double Impact. |
|
|
|
|
|
|
|
|
|
|
|
|
|
Who's in the newsletter today?
|
|
People
|
|
|
|
Investors
|
|
|
|
Companies
|
|
|
|
Limited Partners
|
|
|
|
|
| |
|
|
|
