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1. Pinterest sets the IPO range at $ 15-17, valuing it at $ 10.6B versus the previous valuation of $ 12.3B
Pinterest social media platform introduced an updated S-1, where it set the price range at $ 15-17 per share, which would value the company between $ 10 billion and $ 11.3 billion.
That’s a tough (or, I could argue, conservative) picture, valuing the company at around $ 2 billion less than its valuation as a private company when it last raised funds in 2017.
2. To stop copycats, Snapchat is shared.
Evan Spiegel has finally found a way to fight Mark Zuckerberg’s army of clones. His plan is to allow other apps to incorporate the best parts of Snapchat, rather than creating their own half-rate copies.
3. Grab plans to raise $ 2B more this year to fund a wave of acquisitions in Southeast Asia
Fresh from closing a nearly $ 1.5 billion increase in SoftBank’s Vision Fund as part of a massive multi-million Series H deal, Grab said today that it plans to extend the round to $ 6.5 billion to expand its battle with Go-Jek.
4. Sinemia Faces Consumer Rejection and Class Action Lawsuit Over Series of Complaints
Earlier this week, we spoke with CEO Rifat Oguz about current service issues. He told us, “As CEO, I can tell, we are still learning.”
5. Gizmodo Media Group was acquired by private equity firm Great Hill Partners.
Gizmodo Media Group started as part of Gawker Media and was acquired by Univision following Gawker’s legal defeat (in a lawsuit filed by Terry Bollea) and subsequent bankruptcy.
6. Klaviyo raises $ 150M Series B after building an old-fashioned company.
Co-founder Andrew Bialecki wrote in a blog post that the founders decided to start for the first few years because they believed it was the right way to build a business – that, and they had no idea how to raise money.
7. This week’s TechCrunch podcasts.
The Equity team has thoughts on Lyft’s share price plummet, while Original Content reviews Theranos documentary, “The Inventor.”