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12/18/20: What’s Going On

Discord, Microsoft and more from around the business world.
(VDB Photos)
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“Discord, the chat-based social network that is especially popular among gamers, has raised $100 million in a new funding round led by Greenoaks Capital, the company told VentureBeat. The new round adds to the $100 million Discord raised just six months ago, and roughly doubles the company’s valuation to $7 billion, according to the Prime Unicorn Index, which tracks private funding rounds through corporate filings. The filings indicate Discord, already one of the largest startups in the social media space, could raise $40 million more as part of the round. Discord has 140 million monthly active users.”

“Coinbase, the big cryptocurrency trading platform, announced Thursday it confidentially filed with the Securities and Exchange Commission to go public. The company could fetch a lofty valuation in the public markets, though it risks facing regulatory scrutiny as authorities crack down on cryptocurrency markets. The filing comes amid a surge in interest in bitcoin, the most popular cryptocurrency. Bitcoin’s price hit a record high this week, roaring past $20,000 to trade above $23,000 at one point on Thursday. Coinbase also would be hitting the public markets at a moment amid investor zeal for new stocks.”

“Tencent Holdings Ltd. is doubling its stake in the music giant behind Ariana Grande and Billie Eilish. The Chinese internet company said Friday it was leading a consortium that had agreed to buy an additional 10% stake in Universal Music Group from Vivendi SE, in a deal that values the world’s largest music business at 30 billion euros, equivalent to $36.8 billion.”

“Poshmark, an online marketplace for second hand apparel, filed to go public on Thursday. The company, which launched in the wake of the 2008–09 financial crisis, provides a platform for customers to buy and sell used goods like clothing, shoes and accessories. It is one of many e-commerce apps aiming to go toe-to-toe with Amazon and eBay.”

Companies Raising Capital
NameAmountDescription
Lyra Health$175 MillionMental Wellness Platform
Foresight$15 MillionConstruction Workers Compensation Platform
Avenue 8$4 MillionTo Rebuilt The Traditional Real Estate Brokerage Model
V7 Labs$3 MillionPlatform To Automate Training Workflows
Surrogate.tv$2.5 MillionRemote Physical Gaming Site

“Microsoft Corp said on Thursday it found malicious software in its systems related to a massive hacking campaign disclosed by U.S. officials this week, adding a top technology target to a growing list of attacked government agencies.”

“Robinhood Financial LLC has agreed to pay $65 million to settle regulatory claims that it didn’t sufficiently disclose its business deals with high-speed trading firms, the Securities and Exchange Commission said Thursday.”

“Verily, the life science arm of Alphabet, has raised $700 million from existing investors Silver Lake, Temasek, Ontario Teachers’ Pension Plan and parent company Alphabet, among others.”

“Sony has pulled one of this year’s most anticipated videogames, “Cyberpunk 2077,” from its online PlayStation store after complaints about its performance on the PlayStation 4 videogame console.”

“Tesla Inc. will officially join the S&P 500 Monday, likely precipitating a frenzied Friday afternoon in markets.”

“Shipping volumes at FedEx’s Ground unit surged 29% in the latest quarter, as consumers continued to buy everyday goods online, while retailers urged them to do their holiday shopping earlier than normal against the backdrop of the coronavirus pandemic.”

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