Shares in privately held ByteDance traded at a valuation of $275 billion in the secondary market, well below previous levels for the owner of TikTok even as some investors are optimistic about the prospects of an IPO. That figure was far lower than the $460 billion blended valuation that Tiger Global offered when it acquired additional shares, Bloomberg said. The drop in value comes as...
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The Briefing startups uber/lyft
Oscar Health’s New CEO Has a Tough Job—but Lyft’s New CEO Has It Worse
Mark Bertolini must be feeling pretty good. Since he was named the new CEO of Oscar Health on Tuesday, Oscar’s long-suffering stock has bounced 78%. OK, skeptics will point out that bounce was off a very low base—the stock was at $3.59 on Monday. And even after the rally, Oscar stock is still down 84% from its initial public offering price. But any stock lift is better than the alternative,...
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