March 19, 2024 6:00 AM
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newsletter@email.crunchbase.com
The biggest potential winners in Reddit’s IPO
Overview of upcoming Reddit IPO, AI funding and M&A trends, notable startup investments, and insights from Index Ventures on scaling startups.
Plus, AI dealmaking remains slow March 19, 2024 Hi, Tim . Reddit, the 18-year-old social content sharing platform, is slated to go public this week in an IPO that could be valued as high as $6.4 billion. Ahead of the offering — which would break a l
March 19, 2024 6:00 AM
-
newsletter@email.crunchbase.com
The biggest potential winners in Reddit’s IPO
Overview of upcoming Reddit IPO, AI funding and M&A trends, notable startup investments, and insights from Index Ventures on scaling startups.
Plus, AI dealmaking remains slow March 19, 2024 Hi, Tim . Reddit, the 18-year-old social content sharing platform, is slated to go public this week in an IPO that could be valued as high as $6.4 billion. Ahead of the offering — which would break a l
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<meta http-equiv="Content-Type" content="text/html; charset=utf-8"><meta content="http://static.crunchbase.com/daily/assets/cb-fb-share_v2.png"><meta content="image/png"><meta content="300"><meta content="300"><meta content="Crunchbase Daily"><meta content="The Crunchbase Daily is everything you'll need to start your day! Sign-up now."><meta content="2024-03-15T20:41:26Z"></head><body style="background:#eaeaea; margin:0; padding:0; width:100%!important"><div style="color:transparent; visibility:hidden; opacity:0; font-size:0px; border:0; max-height:1px; width:1px; margin:0px; padding:0px; border-width:0px!important; display:none!important; line-height:0px!important"><img border="0" width="1" height="1" src="http://sp.email.crunchbase.com/q/jodyTyejUPFgCp2tcVYQdg~~/AARGbAA~/RgRn3BFxPVcDc3BjQgpl73GM-WVAlhWdUhVlbXVsaXN0MDFAb3V0bG9vay5jb21YBAAAADs~" alt=""></div><span style="color:transparent; visibility:hidden; display:none; opacity:0; height:0; width:0; font-size:0">Plus, AI dealmaking remains slow</span><img src="http://links.email.crunchbase.com/e/eo?_t=071ea1d6efd844c0a60f7d7dc2214a93&_m=dd7b170e36b0447bb81dc7bea38f1368&_e=thX68-xbZLBAseqt0vezNMp7n5FufvjmYq8ouBmA_mTvtT6qQmR-O-AWcUm3q-6_Um3xB6qrztS6q0VhYOn5VEKkAXkQVuO9-AAktgse_cQ-7sCt4_Q9za2sW9CO_PVxphVhLWHBBP5xSDbJVZcB5w%3D%3D" width="1" height="1" style="border:0; width:1px; height:1px; border-width:0px!important; display:none!important; line-height:0!important"> <table cellpadding="0" cellspacing="0" style="background:#eaeaea; border:0; color:#333; font-family:Arial,'Helvetica Neue',Helvetica,sans-serif; margin:0; padding:0; width:100%!important"><tbody><tr><td align="center" valign="top"><table cellpadding="0" cellspacing="0" style="border:0; padding:25px 0; width:522px"><tbody><tr><td><a href="#" style="display:block; padding:0 0 0 1px"><img height="23" src="http://static.crunchbase.com/daily/assets/cb-daily-header-logo-v5.png" width="176"> </a></td></tr><tr><td><img alt="" height="10" src="http://c0185784a2b233b0db9b-d0e5e4adc266f8aacd2ff78abb166d77.r51.cf2.rackcdn.com/blank.png" width="520" style="border:0; height:10px; margin:0; padding:0; width:520px"></td></tr><tr><td><table cellpadding="0" cellspacing="0" style="background:#0288d1; border:1px solid #00559d; color:#fff; font-family:Arial,'Helvetica Neue',Helvetica,sans-serif"><tbody><tr><td><h3 style="color:#fff; font-size:15px; font-weight:bold; line-height:21px; margin:0; padding:5px 10px; width:400px">March 19, 2024</h3></td><td style="padding:5px 10px; width:400px"></td><td style="padding:5px 10px; width:400px"></td><td style="padding:5px 10px; width:400px"></td></tr></tbody></table></td></tr><tr><td style="background:#fff; color:#333; border:1px solid #cdcdcd; border-top:0; font-family:Arial,'Helvetica Neue',Helvetica,sans-serif; font-size:14px; line-height:19px; padding:15px 20px 20px"><p style="margin:0 0 15px 0">Hi, Tim . <a href="#" style="color:#0288d1; text-decoration:none">Reddit</a>, the 18-year-old social content sharing platform, is slated to go public this week in an IPO that could be valued as high as $6.4 billion. Ahead of the offering — which would break a long drought in major tech IPOs — <a href="#" style="color:#0288d1; text-decoration:none">we look at who the big investors in Reddit are and what the IPO could mean for other startups waiting in the wings to go public</a>. Plus, <a href="#" style="color:#0288d1; text-decoration:none">AI funding may be hot, but M&A dealmaking in the sector is not</a>.</p><h2 id="the-biggest-potential-winners-in-reddits-ipohttpsnewscrunchbasecompublicreddit-ipo-biggest-investors-shareholders-rddt-advance-publications" style="color:#333; margin:0 0 5px 0; font-size:14px; font-weight:bold">💸 <a href="#" style="color:#0288d1; text-decoration:none">The biggest potential winners in Reddit’s IPO</a></h2><p style="margin:0 0 15px 0">Almost a third of <a href="#" style="color:#0288d1; text-decoration:none">Reddit</a> is owned by one company. Who else has a stake in the San Francisco-based startup, which is the last of its peers from the Web 2.0 era to finally head to the public markets? We break down its ownership and financials ahead of this week’s expected IPO.</p><h2 id="ai-funding-may-be-hot-but-ma-remains-slowhttpsnewscrunchbasecomaiartificial-intelligence-startups-mergers-acquisitions-vc-funding-data" style="color:#333; margin:0 0 5px 0; font-size:14px; font-weight:bold">🐢 <a href="#" style="color:#0288d1; text-decoration:none">AI funding may be hot, but M&A remains slow</a></h2><p style="margin:0 0 15px 0">While venture funding to artificial intelligence startups topped $50 billion in 2023 and continues to flow this year, M&A deals for companies in the space have been relatively slow, Crunchbase data shows.</p><p style="margin:0 0 15px 0">Related Crunchbase Pro query: <a href="#" style="color:#0288d1; text-decoration:none">Global Venture-Backed Artificial Intelligence M&A</a></p><h2 id="autonomous-vehicles-software-startups-top-10-largest-dealshttpsnewscrunchbasecomventurebiggest-funding-rounds-applied-intuition-luminary-cloud" style="color:#333; margin:0 0 5px 0; font-size:14px; font-weight:bold">🏅 <a href="#" style="color:#0288d1; text-decoration:none">Autonomous vehicles, software startups top 10 largest deals</a></h2><p style="margin:0 0 15px 0">Last week was another strong one for large funding rounds to U.S.-based startups. The top 10 list also included three new unicorns.</p><p style="margin:0 0 15px 0">See also: <a href="#" style="color:#0288d1; text-decoration:none">The Crunchbase Megadeals Board</a></p><h2 id="funding-still-flows-to-ukrainian-founded-and--staffed-startupshttpsnewscrunchbasecomventureukraine-tech-startups-vc-funding-founders-amid-war" style="color:#333; margin:0 0 5px 0; font-size:14px; font-weight:bold">🇺🇦 <a href="#" style="color:#0288d1; text-decoration:none">Funding still flows to Ukrainian-founded and -staffed startups</a></h2><p style="margin:0 0 15px 0">Ukraine itself isn’t exactly a huge destination for venture capital investment. But in addition to hosting a lot of early-stage startups, the nation serves as an employment base for a prominent group of Ukrainian-founded unicorns and public tech companies, many of which have continued to draw strong investor interest.</p><h2 id="what-this-vc-firm-learned-tracking-200-startups-pre-1k-employeeshttpsnewscrunchbasecomstartupsindex-ventures-scaling-through-chaos-startup-fast-growth-strategy" style="color:#333; margin:0 0 5px 0; font-size:14px; font-weight:bold">💡 <a href="#" style="color:#0288d1; text-decoration:none">What this VC firm learned tracking 200+ startups pre-1K employees</a></h2><p style="margin:0 0 15px 0">How do successful startup founders scale their companies during the hectic, fast-growth early days between zero and 1,000 employees? To answer that question, <a href="#" style="color:#0288d1; text-decoration:none">Index Ventures</a> tracked more than 200 startups as they grew to their first 1,000 employees. We speak with the firm’s partners about the top insights from that project, which are also released in a new book out this week.</p></td></tr><tr><td><img alt="" height="30" src="http://c0185784a2b233b0db9b-d0e5e4adc266f8aacd2ff78abb166d77.r51.cf2.rackcdn.com/blank.png" width="520" style="border:0; height:30px; margin:0; padding:0; width:520px"></td></tr><tr><td><img height="0" src="https://ssl.google-analytics.com/collect?v=1&tid=UA-68916521-1&cid=194&t=event&ec=native_ads&ea=pageview&el=cb_daily_chrome_extension_Q1_2022 " width="0"><table style="padding:0; margin:0; border:0"><tbody><tr><td style="background:#fff; color:#333; border:1px solid #cdcdcd; font-family:Arial,'Helvetica Neue',Helvetica,sans-serif; font-size:14px; line-height:19px; padding:15px 20px 15px"><h2 style="color:#333; margin:0 0 5px 0; font-size:14px"><b data-stringify-type="bold"><strong>Get more with Crunchbase Enterprise</strong></b></h2>Find out more about Crunchbase’s prospecting software that enables your entire team to find the right companies, identify the right people, and connect with the decision-makers who can move deals forward – all in one solution. <div align="left" style="padding:10px 0 0 0"><a href="#" style="background-color:#f5a623; border-radius:4px; color:#183444; display:inline-block; font-family:sans-serif; font-size:13px; font-weight:bold; line-height:40px; text-align:center; text-decoration:none; width:200px"><img alt="" src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/071ea1d6efd844c0a60f7d7dc2214a93/One%20Off/pro_lightning-navy.png" style="padding:5px; width:10px; vertical-align:middle"> BOOK A MEETING NOW</a></div></td></tr><tr></tr></tbody></table></td></tr><tr><td></td></tr><tr><td><img alt="" height="30" src="http://c0185784a2b233b0db9b-d0e5e4adc266f8aacd2ff78abb166d77.r51.cf2.rackcdn.com/blank.png" width="520" style="border:0; height:30px; margin:0; padding:0; width:520px"></td></tr><tr><td><h3 style="background:#0288d1; border:1px solid #00559d; color:#ffffff; font-size:15px; font-weight:bold; line-height:21px; margin:0; padding:5px 10px">Recent Investments</h3></td></tr><tr><td style="background:#fff; border:1px solid #cdcdcd; border-top:0; color:#333; font-size:14px; padding:15px 20px 20px"><table><tbody><tr><td style="width:80px"><a href="#"><img src="https://images.crunchbase.com/image/upload/c_pad,h_60,w_60/xcafxlf3jxflp6dy3ylj" style="border:1px solid #bbb; height:60px; width:60px"> </a></td><td><p style="font-size:20px; font-weight:bold; margin:0"><a href="#" style="color:#0288d1; text-decoration:none">Tubulis</a></p><p style="font-size:20px; font-weight:bold; margin:0; padding:5px 0 0"><a href="#" style="color:#333; text-decoration:none">128M EUR</a> / <a href="#" style="color:#0288d1; text-decoration:none">Series B</a></p></td></tr><tr><td colspan="5" style="font-size:13px; padding:10px 0 5px">Tubulis is a chemotherapeutic medication developer specializing in cancer and chronic disease treatment.</td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Categories:</p><p style="color:#666; margin:0 0 0 85px">Biotechnology • Health Care • Life Science • Pharmaceutical • Therapeutics</p></td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Founders:</p><p style="color:#666; margin:0 0 0 85px"><a href="#" style="color:#0288d1; text-decoration:none">Dominik Schumacher</a>, <a href="#" style="color:#0288d1; text-decoration:none">Jonas Helma</a></p></td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0 20px"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Investors:</p><p style="color:#666; margin:0 0 0 85px"><a href="#" style="color:#0288d1; text-decoration:none">EQT life science</a> (Lead), <a href="#" style="color:#0288d1; text-decoration:none">Nextech Invest</a> (Lead), <a href="#" style="color:#0288d1; text-decoration:none">Andera Partners</a> <a href="#" style="color:#0288d1; text-decoration:none">+ 10 more</a></p></td></tr><tr><td style="width:80px"><a href="#"><img src="https://images.crunchbase.com/image/upload/c_pad,h_60,w_60/qtejhjup9w63oreidi83" style="border:1px solid #bbb; height:60px; width:60px"> </a></td><td><p style="font-size:20px; font-weight:bold; margin:0"><a href="#" style="color:#0288d1; text-decoration:none">Pocket FM</a></p><p style="font-size:20px; font-weight:bold; margin:0; padding:5px 0 0"><a href="#" style="color:#333; text-decoration:none">$100M</a> / <a href="#" style="color:#0288d1; text-decoration:none">Series D</a></p></td></tr><tr><td colspan="5" style="font-size:13px; padding:10px 0 5px">Pocket FM creates audio series platforms for long-form audio entertainment.</td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Categories:</p><p style="color:#666; margin:0 0 0 85px">Apps • Audio • Digital Entertainment • Information Technology • Media and Entertainment • Software</p></td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Founders:</p><p style="color:#666; margin:0 0 0 85px"><a href="#" style="color:#0288d1; text-decoration:none">Nishanth S.</a>, <a href="#" style="color:#0288d1; text-decoration:none">Prateek Dixit</a>, <a href="#" style="color:#0288d1; text-decoration:none">Rohan Nayak</a></p></td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0 20px"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Investors:</p><p style="color:#666; margin:0 0 0 85px"><a href="#" style="color:#0288d1; text-decoration:none">Lightspeed Venture Partners</a> (Lead)</p></td></tr><tr><td style="width:80px"><a href="#"><img src="https://images.crunchbase.com/image/upload/c_pad,h_60,w_60/p4dyny1q6c4zgbeowmxu" style="border:1px solid #bbb; height:60px; width:60px"> </a></td><td><p style="font-size:20px; font-weight:bold; margin:0"><a href="#" style="color:#0288d1; text-decoration:none">Relation Therapeutics</a></p><p style="font-size:20px; font-weight:bold; margin:0; padding:5px 0 0"><a href="#" style="color:#333; text-decoration:none">$35M</a> / <a href="#" style="color:#0288d1; text-decoration:none">Seed Round</a></p></td></tr><tr><td colspan="5" style="font-size:13px; padding:10px 0 5px">Relation Therapeutics is a biotechnology company that focuses on humanizing drug discovery and development.</td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Categories:</p><p style="color:#666; margin:0 0 0 85px">Biotechnology • Genetics • Health Care • Medical</p></td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Founders:</p><p style="color:#666; margin:0 0 0 85px"><a href="#" style="color:#0288d1; text-decoration:none">Benjamin Swerner</a>, <a href="#" style="color:#0288d1; text-decoration:none">Charles Roberts</a>, <a href="#" style="color:#0288d1; text-decoration:none">Jake Taylor-King</a></p></td></tr><tr><td colspan="5" style="font-size:13px; padding:5px 0 20px"><p style="color:#333; float:left; font-weight:bold; margin:0; text-align:right; width:75px">Investors:</p><p style="color:#666; margin:0 0 0 85px"><a href="#" style="color:#0288d1; text-decoration:none">DCVC</a> (Lead), <a href="#" style="color:#0288d1; text-decoration:none">NVentures</a> (Lead), <a href="#" style="color:#0288d1; text-decoration:none">ARK Investment Management</a> <a href="#" style="color:#0288d1; text-decoration:none">+ 4 more</a></p></td></tr></tbody></table><h4 style="font-size:15px; font-weight:bold; margin:0; padding:20px 1px 10px">More Fundings</h4><table cellpadding="0" cellspacing="0" style="border-collapse:collapse; font-size:13px; width:100%"><thead><tr><th style="color:#666; padding:5px 1px; font-weight:normal; text-align:left">Company</th><th style="color:#666; padding:5px 1px; font-weight:normal; text-align:left">Amount / Round</th><th style="color:#666; padding:5px 1px; font-weight:normal; text-align:left">Lead Investor</th></tr></thead><tbody><tr><td style="border:1px solid #bbb; padding:7px"><a href="#" style="color:#0288d1; text-decoration:none">Draftwise</a></td><td style="border:1px solid #bbb; padding:7px">$20M / <a href="#" style="color:#0288d1; text-decoration:none">Series A</a></td><td style="border:1px solid #bbb; padding:7px"><a href="#" style="color:#0288d1; text-decoration:none">Index Ventures</a></td></tr><tr style="background:#f6f6f6"><td style="border:1px solid #bbb; padding:7px"><a href="#" style="color:#0288d1; text-decoration:none">Neotaste</a></td><td style="border:1px solid #bbb; padding:7px">15M EUR / <a href="#" style="color:#0288d1; text-decoration:none">Series A</a></td><td style="border:1px solid #bbb; padding:7px"><a href="#" style="color:#0288d1; text-decoration:none">Earlybird Venture Capital</a></td></tr><tr><td style="border:1px solid #bbb; padding:7px"><a href="#" style="color:#0288d1; text-decoration:none">Nippy</a></td><td style="border:1px solid #bbb; padding:7px">Unknown / <a href="#" style="color:#0288d1; text-decoration:none">Seed Round</a></td><td style="border:1px solid #bbb; padding:7px">-</td></tr></tbody><tfoot><tr><td colspan="5" style="border:1px solid #bbb; padding:7px; text-align:center"><a href="#" rel="noopener" target="_blank" style="color:#0288d1; text-decoration:none">All Recent Funding Activity</a></td></tr></tfoot></table></td></tr><tr><td><img alt="" height="30" src="http://c0185784a2b233b0db9b-d0e5e4adc266f8aacd2ff78abb166d77.r51.cf2.rackcdn.com/blank.png" width="520" style="border:0; height:30px; margin:0; padding:0; width:520px"></td></tr><tr><td><h3 style="background:#0288d1; border:1px solid #00559d; color:#ffffff; font-size:15px; font-weight:bold; line-height:21px; margin:0; padding:5px 10px">Recent Acquisitions</h3></td></tr><tr><td style="background:#fff; border:1px solid #cdcdcd; border-top:0; color:#333; font-size:14px; padding:15px 20px 20px"><table><tbody><tr><td style="width:80px"><a href="#"><img src="https://images.crunchbase.com/image/upload/c_pad,h_60,w_60/ooeydbk78fdhzrfrmuzm" style="border:1px solid #bbb; height:60px; width:60px"> </a></td><td><p style="font-size:20px; font-weight:bold; margin:0"><a href="#" style="color:#0288d1; text-decoration:none">Fluhrer Reed</a></p><p style="font-size:15px; margin:0; padding:5px 0 0">Pending acquisition by <a href="#" style="color:#0288d1; text-decoration:none">NV5 Global</a> for <span style="color:#333; font-weight:bold">Unknown</span></p></td></tr></tbody></table><h4 style="font-size:15px; font-weight:bold; margin:0; padding:20px 1px 10px">More Acquisitions</h4><table cellpadding="0" cellspacing="0" style="border-collapse:collapse; font-size:13px; width:100%"><thead><tr><th style="color:#666; padding:5px 1px; font-weight:normal; text-align:left">Company</th><th style="color:#666; padding:5px 1px; font-weight:normal; text-align:left">Acquired By</th><th style="color:#666; padding:5px 1px; font-weight:normal; text-align:left">Amount</th></tr></thead><tbody><tr><td style="border:1px solid #bbb; padding:7px"><a href="#" style="color:#0288d1; text-decoration:none">Avalor</a></td><td style="border:1px solid #bbb; padding:7px"><a href="#" style="color:#0288d1; text-decoration:none">Zscaler</a></td><td style="border:1px solid #bbb; padding:7px">$350M</td></tr></tbody><tfoot><tr><td colspan="5" style="border:1px solid #bbb; padding:7px; text-align:center"><a href="#" rel="noopener" target="_blank" style="color:#0288d1; text-decoration:none">All Recent Acquisition Activity</a></td></tr></tfoot></table></td></tr><tr><td><img alt="" height="30" src="http://c0185784a2b233b0db9b-d0e5e4adc266f8aacd2ff78abb166d77.r51.cf2.rackcdn.com/blank.png" width="520" style="border:0; height:30px; margin:0; padding:0; width:520px"></td></tr><tr><td style="color:#333; font-family:Arial,'Helvetica Neue',Helvetica,sans-serif; font-size:13px; line-height:19px; padding:0 0 0 1px"><a href="#" style="display:block"><img src="http://static.crunchbase.com/daily/assets/cb-logo-footer-on-dark_v3.png"> </a><p style="margin:0; padding:5px 0 0">Discover innovative companies and the people behind them.</p><table cellpadding="0" cellspacing="0" style="border:0; padding:15px 0"><tbody><tr><td style="padding:0 10px 0 0"><a href="#" rel="noopener" target="_blank"><img alt="Follow Us on Crunchbase" height="20" src="http://static.crunchbase.com/daily/assets/cb_icon_v2.png" width="20"> </a></td><td style="padding:0 10px 0 0"><a href="#" rel="noopener" target="_blank"><img alt="View Jobs on LinkedIn" height="20" src="http://static.crunchbase.com/daily/assets/cb-daily-linkedin-large-color.png" width="20"> </a></td><td style="padding:0 10px 0 0"><a href="#" rel="noopener" target="_blank"><img alt="Follow Us on Twitter" height="20" src="http://static.crunchbase.com/daily/assets/cb-daily-share-twitter-color.png" width="20"> </a></td><td><a href="#" rel="noopener" target="_blank"><img alt="Like Us on Facebook" height="20" src="http://static.crunchbase.com/daily/assets/cb-daily-facebook-large-color.png" width="20"> </a></td></tr></tbody></table><p style="margin:0">564 Market St, San Francisco, CA 94104 <br>© 2024 Crunchbase Inc. 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