Online consumer lender Affirm is delaying its IPO, the Wall Street Journal reported, following a similar move by gaming company Roblox reported on Friday. Both delays come amid a booming market for tech IPOs. Both DoorDash and Airbnb went public this past week and saw their stocks soar past their IPO prices, raising questions whether the IPO’s bankers had underpriced the offering. DoorDash...
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Creator Economy Startups
Bringing Order to the Chaos of Influencers’ Hotel Discount-Seeking
For several years, hotels have found themselves in awkward situations with social media influencers who contact them for free rooms in exchange for posts that promote their properties. Some interactions between ornery hotel owners and thirsty Instagram personalities have even gone viral.Instead of rolling his eyes, Michael Keriakos saw an opportunity to prove to the hotels that the bargain was...
Microsoft Acquires Spending Management Startup Suplari
Facebook’s Revenue Jumps 56% to $29 billion
FTC Chair Claims Big Tech Promote Fraud
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Sequoia Capital vs. Hillhouse: Inside China’s Fiercest Investor Rivalry
Last fall, Sequoia Capital China, the Silicon Valley VC firm’s affiliate led by investor Neil Shen, pledged to invest $400 million in a new funding round for Full Truck Alliance, China’s “Uber for trucks.” Days later, Zhang Lei, the rival head of private-equity giant Hillhouse Capital Group, flew to Nanjing, met Full Truck’s CEO over dinner and arranged a $110 million investment in the same round, according to a person familiar with the matter.