A Chinese online used-car trading platform once valued at $1.4 billion has agreed to sell itself for just $1,400, according to Bloomberg. The startup, Renrenche, had raised $760 million as of 2018, according to PitchBook, and had backers including Goldman Sachs, Tencent and Didi Chuxing. Bloomberg said the potential deal to sell to Chinese online classifieds listing portal 58.com would...
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Watching for Peak SPAC: The Information’s Tech Briefing
Have we hit peak SPAC yet? You could have asked that question any day over the past few weeks, or months. But lately things truly seem to be hitting a new level. Four new SPAC mergers were unveiled today alone, according to SPACInsider. Adult entertainment service Stripchat said it was planning a SPAC. We reported that a Chinese private equity firm was planning a SPAC. Underlying the SPAC...
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