Uber and Lyft shares were briefly trading at the same price on Monday, just below $20 apiece, a sign investors see Lyft even worse hit than Uber. Remember, Lyft went public last year at an IPO price of $72 while Uber went public at $45. While Uber is down by about 50%, Lyft has fallen 55%. That may reflect indiscriminate selling. But it may also reflect the fact that Uber is perhaps slightly...
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Sequoia Capital China Buys Discounted Stake in Prominent E-Commerce App
Sequoia Capital China recently acquired a stake in Chinese social e-commerce app Xiaohongshu from existing investors at a discount to the company’s most recent equity financing valuation, according to three people with knowledge of the matter. Sequoia China, which is preparing to separate from Silicon Valley’s Sequoia Capital next year, bought the Xiaohongshu shares earlier this...
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