Best of Last Week
- Redfin will acquire Atlanta-based online rental marketplace RentPath for $608M.
- Sensata Technologies, U.K.-based provider of sensor-rich solutions will purchase Xirgo Technologies Intermediate Holdings, a telematics and data insight provider, for $400M.
- Radio media corporation iHeartMedia will acquire podcast advertisement suite provider Triton Digital from E.W. Scripps for $230M. Triton was acquired by E.W. Scripps from Vector Capital in $150M in 2018.
- Palo Alto Networks acquired Israeli cybersecurity platform Bridgecrew Technologies for $156M cash. Bridgecrew had only raised $18M prior to the deal.
- Indian conglomerate Tata Group will purchase a 68% stake in online grocery startup BigBasket for about $1.31B (Rs 9,500 crore). The deal will provide BigBasket investors including Alibaba (which had a 27.85% stake) and Actis (18.05%) a hefty exit.
- ByteDance is considering selling its Indian TikTok operations to rival Glance, according to reports. The talks were initiated by SoftBank and are still in the first stages.
- Political digital media company Ad Practitioners bought door-to-door marketing company Knoq, terms undisclosed.
- Payment card service Marqeta filed for an IPO that could potentially value the company at $10B. The company was most recently valued at $4.2B during a $150M funding round in May 2020. It also announced its intent to move into the credit card space.
- Boston-based maker of restaurant software Toast is preparing for an IPO that could value it at $20B.
- Coupang, the South Korean e-commerce giant, announced its IPO as its revenue in 2020 almost doubled to $12B from $6.3B in 2019. Its losses also shrunk from $699M to $475M.
- JD.com’s logistics division reportedly plans to list on Hong Kong’s stock exchange to raise roughly $5B at a $40B valuation.
- German language app maker Babbel is weighing an IPO.
- U.K.-based, online used car platform Cazoo is weighing an IPO in London.
- Chinese social media service Weibo is planning a second listing in Hong Kong as early as this year.
- Chinese grocery app Dingdong Maicai is weighing an IPO in the U.S. this year.
- AEye, a developer of LiDAR technology for autonomous driving, will merge with CF Finance Acquisition Corp. III at a $2B valuation. Between the $230M in equity provided by CF Finance and the $225M in public equity, AEye will get a $455M boost on its balance sheet.
- Insight Partners is reportedly preparing to pitch its twelfth flagship fund with a goal of $12B.
- Private equity firm Peak Rock Capital has raised about $1.6B out of a planned $1.8B for its Fund III.
- Savant Growth raised $500M for its inaugural fund to invest in SaaS businesses.
- 01 Advisors closed Fund II to invest in series A-B companies that have found product-market fit: $325M.
- Adjuvant Capital closes its maiden fund, vaccines, therapeutics, diagnostics, and medical devices: $300M.
- Alta Partners closed Fund III, early-stage healthcare: $275M.
- Advent Life Sciences closes two funds totaling $215M that focus on life science companies in the U.S., U.K., and Europe: Flagship Fund III and Advent-Harrington Impact Fund.
- Bold Ventures closed its fifth flagship fund at $155M and its second follow-on fund at $75M to invest in developer-first startups.
- Avid Ventures closed its maiden fund, Series A and B: $68M.
- Ironspring Ventures closed its maiden fund, Texas startups: $61M.
- Revent holds the first close of its maiden fund, impact-focused European pre-seed to series A: $60M (€50M).
- Former a16z partner Li Jin launched her new firm Atelier Ventures’ maiden fund to invest in the passion economy. The first fund will have $13M to invest in $100K-$300K rounds for companies focused on a "human-centered vision of the future of work."