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Airbnb Files For IPO, Submitted Confidential Paperwork

20Aug By AdityaNo Comments

Market

Airbnb Files For IPO, Submitted Confidential Paperwork

Calif, 20th Aug 2020: US-based online rental marketplace platform Airbnb announced that it had submitted confidential paperwork with the US Securities and Exchange Commission for an initial public offering. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The IPO of Airbnb is expected to take place after the SEC completes its review process, subject to market and other conditions. In the recent news reports, Airbnb said they want to go public by the end of the year, in spite of its 40 percent decrease in valuation from $30 billion in 2017, but only at $18 billion this year. Last Month during the layoff, Airbnb Co-Founder and CEO Brian Chesky said, “Out of our 7,500 Airbnb employees, nearly 1,900 teammates will have to ...

SoftBank Posts $12 Billion Profit in First Quarter of 2020

12Aug By PriyankaNo Comments

Market

SoftBank Posts $12 Billion Profit in First Quarter of 2020

Tokyo, Aug 11, 2020: Japanese technology giant SoftBank Group profit rose 12 percent in April-June from a year earlier as its investments added to its coffers, including sales of its shares in US carrier T-Mobile. Tokyo-based SoftBank reported a first-quarter profit of 1.2 trillion yen (USD 11.8 billion), up from 1.1 trillion yen in the previous fiscal year. Quarterly sales inched down 2 per cent to 1.45 trillion yen (USD 13.7 billion). SoftBank, whose group includes the carrier that introduced the iPhone to Japan, said it has been shoring up its cash reserves. Chief Executive Masayoshi Son said, "the company already has raised in several months nearly all the 4.5 trillion yen (USD 41 billion) it had promised in March to attain within a year. But he acknowledged worries about ...

Apple Posts 11% increase in revenue in Q3 2020

31Jul By PriyankaNo Comments

Market

Apple Posts 11% increase in revenue in Q3 2020

CUPERTINO, Calif., 31st 2020-- Apple announced financial results for Q3 2020 and posted quarterly revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.58, up 18 percent. 60 percent of the quarter’s revenue came from International sales. “Apple’s record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments,” said Tim Cook, Apple’s CEO. “In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation. This is a challenging moment for our communities, and, from Apple’s new $100 million Racial Equity and Justice Initiative to a new commitment to be carbon neu...

PayPal Posts Record Profit and Net Active Accounts in Q2 2020 Results

30Jul By AdityaNo Comments

Market

PayPal Posts Record Profit and Net Active Accounts in Q2 2020 Results

International Payment gateway PayPal posts record surge in transactions and new accounts that make 86 percent higher profit in Q2 2020. During this pandemic hit quarter, Paypal processed $222 billion (roughly Rs. 16.61 crores) in payments over the period, up 30 percent from a year earlier. The rate of payment growth compares with a year-earlier increase of 26 percent that had slowed to 19 percent in the first quarter when the pandemic broke and retail spending collapsed broadly. The company added 21.3 million accounts during the quarter, up 137 percent from a year earlier. Net income increased to $1.53 billion (roughly Rs. 11,446 crores), or $1.29 (roughly Rs. 90) per share, in the quarter ended June 30, from $823 million (roughly Rs. 6,159 crores), or 69 cents per ...

BigCommerce files for a $100 million IPO

14Jul By AnkitaNo Comments

Market

BigCommerce files for a $100 million IPO

BigCommerce Holdings, an on-demand Saas based platform that enables SMBs to build online stores, filed for IPO with the SEC to raise up to $100 million. BigCommerce simplifies the creation of online stores through ease-of-use, enterprise functionality, and flexibility. It powers both its customers' branded eCommerce stores and their cross-channel connections to popular online marketplaces, social networks, and offline point-of-sale systems. As of June 1, 2020, it served approximately 60,000 online stores in approximately 120 countries. The Austin, TX-based company was founded in 2003 and booked $120 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol BIGC. BigCommerce Holdings filed confidentially on January 9, 2020....

New York based Vroom raises $467.5 million in US IPO

9Jun By AdityaNo Comments

Market

New York based Vroom raises $467.5 million in US IPO

Online used car seller Vroom Inc raises $467.5 million in its initial public offering. Applied for IPO last month, Vroom priced its IPO at $22 in the US stock exchange, above the initially marketed range of $18 to $20, valuing the company at $2.48 billion. T Rowe Price Associates and L Catterton backed Vroom sold 21.25 million shares compared with the earlier plan of 18.8 million shares. The shares will trend as a VRM under Nasdaq listing on Tuesday. Recent recovery in the U.S. stock markets has led to a flurry of IPO-hopefuls entering the race. Vroom reported a more than twofold rise in sales at its e-commerce business in the first quarter of 2020 as the virus outbreak and stay-at-home orders stoked a surge in online shopping. The company, which use digital tools to cl...

9Jun By AnkitaNo Comments

Market

SoftBank backed Lemonade files for IPO

NEW YORK, 9th June 2020-- Softbank backed digital insurer platform Lemonade has filed a Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to the proposed initial public offering of its common stock. Application has been made for listing the common stock on the New York Stock Exchange under the ticker symbol “LMND.” The number of shares to be offered and the price range for the proposed offering have not yet been determined. A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. Lemonade has raised around $480 million from SoftBank Group, Sequoia Capital Israel, General Catalyst, and others.

Patanjali going to issue its first debentures, looking to raise $33 million

27May By PriyankaNo Comments

Market

Patanjali going to issue its first debentures, looking to raise $33 million

NEW DELHI, 27th May 2020: India's leading natural product based FMCG company Patanjali Ayurved plans to issue $33 million (Rs 250 crore) debentures to meet its working capital requirements and strengthen supply chain network. This would be the first-ever issuance of debentures by the Haridwar-based firm, which has emerged as one of the leading companies in the FMCG segment in recent years. The non-convertible debentures (NCDs) will carry a coupon rate of 10.10 per cent with a tenure of three years. The maturity date is May 28, 2023. According to information, the bidding date would start on May 28 for NCDs, which would be listed on the stock exchanges and are redeemable. "In this pandemic, demand for Ayurveda-based products, which help in boosting immunity, along with other produ...

N Chandrasekaran buys 100K Share of Tata Communications

18Mar By AnkitaNo Comments

Market

N Chandrasekaran buys 100K Share of Tata Communications

Tata Sons executive chairman N Chandrasekaran has purchased 1 lakh shares of Tata Communications from the secondary market, according to a regulatory filing. "We have received an intimation from N Chandrasekaran, executive chairman, Tata Sons Private Limited regarding his purchase of 1,00,000 equity shares of Tata Communications Limited at an average price of Rs 249.15, excluding brokerage and STT, per share as on March 16, 2020," Tata Communications said in a BSE filing. Shares of Tata Communications closed at Rs 226 a unit, down by 7.92 percent compared to the previous close, at BSE on Wednesday.

Barbeque Nation files IPO Papers to Raise Rs 1,000-1,200 cr

18Feb By Press Trust of IndiaNo Comments

Market

Barbeque Nation files IPO Papers to Raise Rs 1,000-1,200 cr

India based casual dining chain Barbeque Nation Hospitality has filed fresh papers with markets regulator Sebi to raise an estimated Rs 1,000-1,200 crore through an initial public offering. The IPO comprises a fresh issue of shares worth Rs275 crore and an offer-for-sale of up to 98,22,947 equity shares, according to the draft papers filed with the Securities and Exchange Board of India (Sebi). The company may consider a pre-IPO placement to the tune of Rs150 crore. Proceeds of the issue will be utilised to repay an outstanding borrowing of Rs 205 crore in part or full and for general corporate purposes. The company is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani and is backed by private equity firm CX Partners, whi...

Saudi Aramco Shares Sinks Amid Iran-US tensions

6Jan By AdityaNo Comments

Market

Saudi Aramco Shares Sinks Amid Iran-US tensions

Saudi Aramco shares hit the lowest level since their market debut on Sunday, as Gulf bourses were hit by a panicky sell-off amid Iranian vows of retaliation over the US killing of a top general. All seven bourses in the Gulf Cooperation Council (GCC) states closed in the red, on the first trading day since the death of powerful military commander Qasem Soleimani. All six member states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates are US allies and lie on the opposite side of the narrow Gulf, making them easy targets for the Islamic republic. Some of the GCC members, notably Kuwait, Qatar and Bahrain, are home to major US military bases while Washington maintains hundreds of troops in Saudi Arabia. Kuwait's Boursa led the slide, shedding 3.7 percent a...

17Dec By PriyankaNo Comments

Market

Travel Firm EaseMyTrip Files for IPO

Online travel company EaseMyTrip has filed draft papers with capital markets regulator Sebi to float more than $71 million (Rs 510 crore) initial public offering. Through the IPO, company’s founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of $35 million (Rs 255 crore) through offer-for-sale mechanism, according to draft papers filed with the Securities and Exchange Board of India (Sebi). The city-based company said the object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges. “Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders,” it added. The company’s issue is being managed by Axis Capital and JM Financial. Founde...