Pinterest sets IPO range – TechCrunch
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1. Pinterest sets IPO range at $15-17, valuing it at $10.6B vs previous valuation of $12.3B
Social media platform Pinterest filed an updated S-1, where it set the price range at $15-17 per share, which would value the company between $10 billion and $11.3 billion.
That’s a tough (or, you might argue, conservative) picture, valuing the company at around $2 billion less than its valuation as a private startup when it last raised funding in 2017.
2. To stop copycats, Snapchat shares itself
Evan Spiegel has finally found a way to fight back against Mark Zuckerberg’s army of clones. His plan is to let other apps embed the best parts of Snapchat, rather than building their own half-rate copies.
3. Grab plans to raise $2B more this year to fund an acquisition spree in Southeast Asia
Fresh from closing a near-$1.5 billion raise from SoftBank’s Vision Fund as part of a huge, multi-billion Series H deal, Grab said today that it plans to extend the round to $6.5 billion to amp up its battle with Go-Jek.
4. Sinemia faces consumer pushback and a class action suit over a battery of complaints
Earlier this week, we spoke to CEO Rifat Oguz about the service’s ongoing issues. He told us, “As CEO, I can say, we’re still learning.”
5. Gizmodo Media Group acquired by private equity firm Great Hill Partners
Gizmodo Media Group started as part of Gawker Media, and was acquired by Univision following Gawker’s legal defeat (in a lawsuit brought by Terry Bollea) and subsequent bankruptcy.
6. Klaviyo raises $150M Series B after building company the old-fashioned way
Co-founder Andrew Bialecki wrote in a blog post that the founders decided to bootstrap for the first several years because they felt it was the right way to build a business — that, and they had no idea how to raise money.
7. This week’s TechCrunch podcasts
The Equity team has thoughts on Lyft’s plummeting stock price, while Original Content reviews the Theranos documentary, “The Inventor.”