NYSE proposes big change to direct listings

NYSE proposes big change to direct listings

The New York Stock Exchange filed paperwork this morning with the U.S. Securities and Exchange Commission to allow companies to raise capital as part of a direct listing. Direct listings are a way for companies to go public by selling existing shares held by insiders, employees and investors directly to Read more…

Make a personal plan for your exit or IPO

Make a personal plan for your exit or IPO

Peyton Carr is a Financial Adviser to founders, entrepreneurs and their families, helping them with planning and investing. He is a Managing Director of Keystone Global Partners. Whether you’re a founder, an early employee or an executive, the possibility of an exit offers extraordinary financial possibilities. However, I see plenty Read more…

Africa Roundup: Goldman leads $30M Twiga raise, China grows tech influence, Jumia weathers lockup-expiry

Africa Roundup: Goldman leads $30M Twiga raise, China grows tech influence, Jumia weathers lockup-expiry

Kenya’s Twiga Foods raised a total of $30 million in October from lenders and investors led by Goldman Sachs. This adds to the list of African startups the U.S. financial firm has backed, including e-commerce venture Jumia and South African fintech startup Jumo. Twiga, a B2B food distribution company, will use its Read more…

EHang, maker of autonomous flying shuttles, files for $100 million IPO

EHang, maker of autonomous flying shuttles, files for $100 million IPO

Chinese autonomous air mobility company EHang has filed with the SEC the paperwork required to go public in the U.S. on the NASDAQ exchange, with a $100 million initial public offering. The company, which has been flying demonstration flights with passengers on board for a while now, is gearing up Read more…

Revisiting Jumia’s JForce scandal and Citron’s short-sell claims

Revisiting Jumia’s JForce scandal and Citron’s short-sell claims

In advance of Jumia’s November financial reporting, it’s worth revisiting the company’s second quarter results, the downside of which included some negative news beyond losses. The Africa focused e-commerce company — with online verticals in 14 countries — did post second-quarter revenue growth of 58% (≈$43 million) and increased its Read more…

MediaLab acquires messaging app Kik, expanding its app portfolio

MediaLab acquires messaging app Kik, expanding its app portfolio

Popular messaging app Kik is, indeed, “here to stay” following an acquisition by the Los Angeles-based multimedia holding company, MediaLab. It echoes the same message from Kik’s chief executive Tim Livingston last week when he rebuffed earlier reports that the company would shut down amid an ongoing battle with the Read more…

Cryptocurrency’s bad day continues as the SEC blocks Telegram’s $1.7 billion planned token sale

Cryptocurrency’s bad day continues as the SEC blocks Telegram’s $1.7 billion planned token sale

Cryptocurrency’s bad news day continues to get worse as the U.S. Securities and Exchange Commission has said it has filed an emergency action and received a restraining order for the $1.7 billion planned token offering of Telegram’s blockchain. The move from the SEC follows the continued dissolution of the corporate Read more…

Africa e-tailer Jumia’s shares fall 4% day after IPO lockup expiration

Africa e-tailer Jumia’s shares fall 4% day after IPO lockup expiration

Shares of Africa focused e-commerce company Jumia dropped 4% the day after the lockup period expired for its April IPO on the New York Stock Exchange. The lockup provision prevents major shareholders — namely those who purchased equity pre-public listing — from selling their shares for a specified number of Read more…

Why we’re still waiting on the Postmates S-1

Why we’re still waiting on the Postmates S-1

In a wide-ranging conversation at TechCrunch Disrupt San Francisco last week, Postmates co-founder and chief executive officer Bastian Lehmann made light of the company’s lack of IPO documents. The San Francisco-based on-demand delivery business was expected to publicly file its IPO prospectus in September in preparation for a fall exit, Read more…

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Brex wants to replace startup bank accounts with Brex Cash

Brex, a Silicon Valley fintech darling, has lofty plans to battle big banks —and Stripe. Code-named “Gemini,” Brex today announced a new product designed to replace and improve the functionality of traditional bank accounts. Brex Cash, as it will be known publicly, is a business cash management account integrated with the Read more…