2019 tech IPOs could bring valuations topping $100B | Uber's first bond offering raises $2B | Vacation home management service Vacasa raises $64M
October 19, 2018
NVCA SmartBrief
News for the startup ecosystem
The Lead
2019 tech IPOs could bring valuations topping $100B
Uber, Lyft and Palantir are among a growing number of high-profile technology companies on track for initial public offerings next year. Deals in planning stages or in the IPO pipeline indicate valuations could exceed $100 billion.
CNBC (10/18),  The Wall Street Journal (tiered subscription model) (10/18) 
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Capital Call
Uber's first bond offering raises $2B
Uber sold $2 billion of bonds in its first trip to the bond market. The private offering was originally for $1.5 billion, but underwriter Morgan Stanley expanded it to $2 billion in response to strong demand from investors.
The Wall Street Journal (tiered subscription model) (10/18) 
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Vacation home management service Vacasa raises $64M
Vacasa, a startup that handles property management for people who rent out homes to travelers, raised $64 million in its most recent funding round. The capital will fund the company's expansion into real estate sales.
TechCrunch (10/18) 
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Fertility treatment startup Future Family raises $10M
Future Family, a startup that aims to reduce the cost of fertility services, raised $10 million in its most recent funding round. CEO Claire Tomkins said most of the money would go toward arranging partnerships with more fertility clinics and expanding the startup's monthly subscription program offerings.
TechCrunch (10/18) 
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Uber reportedly plans short-term staffing business
Uber reportedly is developing a staffing service, called Uber Works, that will provide independent contractors for short-term assignments.
TechCrunch (10/18),  Financial Times (subscription required) (10/18) 
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View from Abroad
Round brings in $200M for Mideast ride-hailing startup Careem
Careem, a startup that provides ride-hailing services in the Middle East, North Africa, Pakistan and Turkey, raised $200 million in its most recent funding round. A source said the company now has a valuation exceeding $2 billion.
Reuters (10/18) 
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Scaled-back IPO raises $63M for Chinese scooter startup Niu
Niu Technologies, a Chinese electric-scooter startup, sold $63 million worth of American depositary shares in its US initial public offering. The shares were originally marketed with a $10.50 to $12.50 suggested price range, but for the offering, they priced at $9.
BloombergQuint (India) (10/19) 
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Euronext works to lure Italian startups to Paris for IPOs
European stock exchange operator Euronext has been talking to Italian tech startups about the advantages of going public on its Paris exchange, and at least 11 companies have expressed interest. Euronext is running a training program to get them ready for a Paris initial public offering.
Reuters (10/18) 
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Corporate Venture Capital
Microsoft joins $15M round for software startup Incorta
Incorta, a data analytics startup, raised $15 million in an extension of a funding round that included an investment from Microsoft's M12 venture capital fund. Incorta says its technology lets companies create reports "within minutes as opposed to weeks."
VentureBeat (10/18) 
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Venture Capital Culture
Cold email pitches welcomed by new VC fund for women
Jane VC, a new venture capital fund looking for opportunities to invest in early-stage startups with female founders, doesn't want entrepreneurs to worry about getting a "warm introduction" in order to make a pitch. With Jane VC, a cold email will be just fine.
TechCrunch (10/18) 
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LinkedIn (10/18) 
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