Grab, Southeast Asia’s major ride-hailing and food-delivery app, said it plans to go public in the U.S. through a special purpose acquisition company in a deal that values the Singapore-based company at about $39.6 billion. Grab will merge with Altimeter Growth, a Nasdaq-listed SPAC sponsored by Silicon Valley investment firm Altimeter Capital Management, in what is expected to be the...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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