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China’s largest pet-focused platform Boqii launches IPO in US

25Sep By PriyankaNo Comments

Market

China’s largest pet-focused platform Boqii launches IPO in US

SHENZHEN, China, Sept. 25, 2020-- China's largest pet-focused platform Boqii (BQ.US) launched an initial public offering (IPO) of $77 million in the US. With the IPO, Boqii plans to offer 7 million shares for USD $10-$12 each. Boqii will become the first US-listed company in the Chinese pet industry. According to data from US-based business consulting firm Frost & Sullivan, Boqii is the largest pet-focused platform in China in terms of revenue and number of customers, the largest pet-focused online community in the country in terms of registered users, and the largest pet-focused online retailer in the country in terms of gross merchandise value (GMV). Boqii was established in Shanghai in 2008 as a community designed to provide a vertically integrated social platform for pet owne...

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 clo...

Lyft valued at $24.3 billion in first ride-hailing IPO

29Mar By reutersNo Comments

Market

Lyft valued at $24.3 billion in first ride-hailing IPO

Lyft Inc was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup, raising more than it had set off to do as investors overlooked uncertainty over its path to becoming a profitable company. Lyft's IPO sets the stage for the stock market debut of larger rival Uber Technologies Inc, which Reuters has reported will kick off in April. Uber has been told by its investment bankers that it could be valued at as much as $120 billion. The success of the IPO came despite Lyft's steep losses, criticism of its dual-class share structure and some concerns over its strategy for autonomous driving, for fear of missing out on the company's strong revenue growth. "In a good market, people look beyond things. They don't see the problems as much," said Brian H...

Lyft beats bigger rival Uber, File for $2 billion IPO

18Mar By PriyankaNo Comments

Market

Lyft beats bigger rival Uber, File for $2 billion IPO

USA based online cab aggregator platform Lyft beat bigger rival Uber Technologies in filing for an IPO. JPMorgan Chase & Co, Credit Suisse and Jefferies managing Lyft's IPO. Founded in 2012, the San Francisco based company currently valued at about $15 billion. The cab sharing platform was founded by John Zimmer and Logan Green. However, Lyft did not specify the number of shares in a filing with the Securities and Exchange Commission. Lyft company is planning for the roadshow to fetch the interest of investors due to escalating trade tensions between the United States and China, which causes turmoil in the financial markets. Investors main concern is the recent stock market weakness that could result in reduced interest in their road shows or fail to fetch them a reaso...

China’s Viomi Technology Raises $102.6 million on its Debut on Nasdaq

26Sep By Gauri SinghNo Comments

Market

China’s Viomi Technology Raises $102.6 million on its Debut on Nasdaq

China-based IoT home platform company Viomi Technology has debuted on the Nasdaq stock exchange trading under the ticker symbol of "VIOT”. The company has raised about $102.6 million on its debut in IPO. It priced its initial public offering (IPO) of 11.4 million American Depositary Shares (ADSs) at $9.00 per ADS. Each ADS represents three of the company's Class A ordinary shares. The underwriters for the Xiaomi-backed company’s IPO include Morgan Stanley and China International Capital Corporation Hong Kong Securities. "By listing on the Nasdaq, Viomi hopes to better focus on the development of home appliance technology and further expand brand awareness, as Nasdaq is known as a tech-heavy stock exchange," Xiaoping Chen, co-founder and chief executive officer of Viomi said. The compa...

Chinese E-Scooter Startup Filed For an IPO on Nasdaq

25Sep By PriyankaNo Comments

Market

Chinese E-Scooter Startup Filed For an IPO on Nasdaq

Electric scooter startup called Niu Technologies which is based in China has filed for an initial public offering (IPO) on Nasdaq. The company has planned to raise up to $150 million through this IPO. Niu claims to be the largest lithium-ion battery-powered e-scooters company in China. Founded in 2014, the company is based in Beijing and currently holds a market share of 26% in China on the basis of its sales volume. Niu’s scooters connect with an app that gives drivers maintenance and performance data and along with that delivers firmware updates. The firm stated that it had sold more than 431,500 smart electric scooters in China, Europe and other markets as of June 2018. According to the reports, China has been termed as the largest market for electric two-wheeled vehicles, wher...

Lehman Bankruptcy: 10 Years of The Biggest Fallout in Wall Street History

9Sep By No Comments

USA

Lehman Bankruptcy: 10 Years of The Biggest Fallout in Wall Street History

The moment was happened in September 2008 when the 150-year-old investment bank Lehman Brothers collapsed, precipitating the worst global economic crisis since the 1930s. After failing to find buyers for the troubled financial giant, that was weighed down by risky debt holdings made up of at sub-prime mortgages, U.S. authorities declined to offer a bailout and allowed the institution to fail. Monday, September 15, 2008, at 1:45 a.m., Lehman Brothers filed for bankruptcy, taking the world by surprise leaving well over $600 billion in debt, as well as 25,000 employees in shock. It was the biggest bankruptcy in American history. On Wall Street, the Dow Jones plunged 500 points, the largest drop since the attacks of September 11, 2001. Stunned traders streaming out of the building car...

Online Startups That Are Listed Under Stock Exchange

9Jul By Gauri SinghNo Comments

Market

Online Startups That Are Listed Under Stock Exchange

What is the stock exchange? In simple words, stock exchange refers to an organized market in which securities are bought and sold. If we go into the detailed description, the prices at which these securities are bought and sold are regulated by the forces of demand and supply. The stock exchange basically is an investment intermediary for corporations, governments, municipalities, and other incorporated bodies where they can raise capital by channeling savings of the investors in various productive ventures. The other purpose served by the stock exchange is that the investors can sell their securities to other investors for cash. These exchanges impose various rules and regulations on the firms and brokers that are involved with them. If a particular company is traded on an exchange,...

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

30Jun By Lavina TolaniNo Comments

ACQUISITION

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

Reliance Industries is gearing to acquire Nasdaq listed telecom solutions provider Radisys Corporation for a whopping $75 million i.e approx (Rs. 510 crores), a move that would push it into an Internet of Things and 5G through Reliance Jio Infocomm. According to the sources, RIL will pay $1.72 per share in cash for the buyout which will bolster Mukesh Ambani owned company's positioning as a telecom company. In its official company statement, Reliance Jio director Akash Ambani said, "This acquisition further accelerates (Reliance) Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption." Speaking on the development, Akash Ambani further said, "Radisys top-class management and engineering team offer Reliance rapid innovat...

Online Education Company Pluralsight Marks a Debut on Nasdaq

18May By Lavina TolaniNo Comments

Market

Online Education Company Pluralsight Marks a Debut on Nasdaq

Online Education Company Pluralsight marked a debut on Nasdaq on Thursday with its shares trading at an opening price of $20 per share, roughly 34 percent above the $15 price at which the company had priced its initial public offering. Interestingly, the stock marked a close at the same price it had opened. Pluralsight is a publicly held online education company that offers a variety of video training courses for software developers, IT administrators, and creative professionals through its website. The company has raised $310 million in its initial public offering. Pluralsight has first filed for public listing on April 16 while competing against Alphabet's YouTube, Cornerstone OnDemand and Microsoft's LinkedIn Learning. It had initially estimated a price share between $10 and $1...

16May By Sheldan RungasamyNo Comments

FUNDING

Recent MakeMyTrip Funding Raises Valuation to Rs 26,000 crore

MakeMyTrip recently raised capital from its Nasdaq-listed parent company through a rights issue that took the Gurugram-based company’s valuation to Rs 26,000 crore. Documents filed by the Indian tour and travels aggregator to the Registrar of Companies demonstrate that MakeMyTrip received around Rs 128 crore from its parent company over the last six months through subscriptions to the rights issues. The RoC filings reveal that the board of directors of MakeMyTrip agreed to allocate 323,649 equity shares at an issue price of Rs 1,000 in February of this year to its parent company MakeMyTrip Limited Mauritius on a right basis. “Consent of the board… is hereby accorded to the allotment of 3,23,649 equity shares of Rs 10 each in the capital of the company… at an issue price of Rs 1,00...