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SPACs are Back (on the Table) at Goldman

Deal Lawyers

After being the second-largest underwriter of SPAC IPOs in 2021, the firm made the decision in 2022 not to work with SPACs anymore — through a self-imposed ban on underwriting SPAC IPOs or working on de-SPAC transactions — apparently deeming it too […]

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Bank of America downgrades hot IPO and Nvidia derivative CoreWeave, citing valuation

CNBC: Investing

billion initial public offering raise marked the largest tech offering on Wall Street since 2021. The firm downgraded CoreWeave to neutral from buy on Monday, but increased its price target to $185 per share from $76, which suggests shares could rise 26% from Friday's $147.19 CoreWeave's $1.5

IPO 99
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Analysts move to the sidelines on CoreWeave stock after big surge since IPO

CNBC: Investing

Its initial public offering earlier this year was the biggest technology IPO since 2021. Mizuho's $150 per share target implies a slide of about 6%, while Citi's $160 forecast is roughly 0.1% above CoreWeave's Monday close. CoreWeave stock has surged more than 266% over the past three months.

IPO 73
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Okay, which analyzes engineers’ productivity, sells to Stripe

TechCrunch: M&A

They were u sually companies in the pre-IPO phase with hundreds to thousands of engineers where the manager wanted to start tracking what others are doing, and looking for tools to help with decision-making.” And Stripe, which has yet to go public via a long-awaited IPO, earlier this year raised $6.5

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Venture Capital: Annual VC Valuations Report

Deal Lawyers

VC valuations continued to head south from their 2021-22 levels. IPOs were practical non-existent and the valuations for deals that did get done were pretty dismal, but this excerpt says there’s […] PitchBook recently published its 2023 Venture Capital Valuations Report, and not surprisingly, the news is pretty grim.

Valuation 113
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Upgrade acquires travel-focused BNPL startup Uplift for a song

TechCrunch: M&A

” Laplanche is referring to the BNPL-style product that Upgrade launched in October 2021, which lets users pay down their debt over six to 36 months with a fixed interest rate. . million users to the platform, and comes as Upgrade weighs an IPO. million users to the platform, and comes as Upgrade weighs an IPO.

Finance 245
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IBM acquires Apptio from Vista for $4.6B in cash to double down on hybrid cloud services

TechCrunch: M&A

Today, IBM made a big acquisition doubling down on the hybrid concept: it will pay $4.6 billion in cash to buy Apptio — which has built a platform to track how and where data lives in hybrid environments and how it’s being used, in particular how that tallies up in terms of financial and resource costs.