Tag: EC News Analysis
Industrial automation startup Bright Machines hauls in $435M by going public via SPAC
Bright Machines is going public via a SPAC-led combination, it announced this morning. The transaction will see the 3-year-old company merge with SCVX, raising gross cash proceeds of $435 million in the process. After the transaction is consummated, the startup will sport an anticipated equity valuation of $1.6 billion. The…
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New Relic’s business remodel will leave new CEO with work to do
For Bill Staples, the freshly appointed CEO at New Relic, who takes over on July 1, yesterday was a good day. After more than 20 years in the industry, he was given his own company to run. It’s quite an accomplishment, but now the hard work begins. On the positive…
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After going public, once-hot startups are riding a valuation roller coaster
To close out the week, a short meditation on value, or, more precisely, how assets are valued in today’s markets. Do you recall the pre-direct-listing hype Coinbase enjoyed? After reporting its estimated first-quarter financial performance, interest in the domestic cryptocurrency trading giant ran red-hot. When Coinbase set a $250 per-share direct…
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As UiPath closes above its final private valuation, CFO Ashim Gupta discusses his company’s path to market
After an upward revision, UiPath priced its IPO last night at $56 per share, a few dollars above its raised target range. The above-range price meant that the unicorn put more capital into its books through its public offering. For a company in a market as competitive as robotic process…
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UiPath raises IPO range, still targets lower valuation than final private round
Robotic process automation unicorn UiPath is set to go public this week, concentrating our focus on its value. The well-known company was last valued on the private markets at $35 billion in February when it closed a $750 million round. Living up to that price as a public company, however,…
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Once VMware is free from Dell, who might fancy buying it?
TechCrunch has spilled much digital ink tracking the fate of VMware since it was brought to Dell’s orbit thanks to the latter company’s epic purchase of EMC in 2016 for $58 billion. That transaction saddled the well-known Texas tech company with heavy debts. Because the deal left VMware a public…
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