ServiceTitan’s IPO and the Power of IPO Ratchets
ServiceTitan (NYSE: TTAN), a Prime Unicorn Index component, makes its public debut today at $71 per share, raising $625M and valuing the company at $6.3B. While this pricing came in above the expected range of $65-67, there’s an interesting detail in its 2022 financing that impacts the final economics. What is an IPO Ratchet? An […]
This Week in the Index: Amazon’s $4B Anthropic Investment, Tender Offers, ServiceTitan IPO, and more
It’s been a busy week for Prime Unicorn Index components, with significant investments, acquisitions, tender offers, and IPO preparations. Here’s a look at the latest developments. Amazon’s $4 Billion Investment in Anthropic On November 22, Amazon announced an additional $4 billion investment in Anthropic, the third largest component of the Prime Unicorn Index. This latest […]
This Week in the Index: Lightmatter Raises $400M, Acquisitions, and More
The Prime Unicorn Index has recently shown more signs of recovery, with Lightmatter raising a $400 Series D, components making acquisitions, and multiple valuation bumps following secondary transactions. Let’s take a look. Lightmatter’s Series D On October 16, Lightmatter announced that it had raised a $400 million Series D round at a $4.4 billion post-money […]
AI Agents on the Rise: How Anthropic is Upping the Ante
Anthropic has taken significant strides with its computer-use agent, an advanced AI feature that allows its Claude model to perform tasks directly on users’ screens. This feature enables Claude to interact with various applications, using screenshots to decide and execute actions such as moving cursors, clicking, and typing. This functionality is appealing for both personal […]
Index Update: Q4 2024 Reconstitution
This week marks the quarterly reconstitution of both the Composite and Top 30 Indexes. Let’s take a look and see what’s changed. In the Top 30 Index, Navan fell below the threshold and was removed following a secondary transaction. It is still a component of the Composite Index. It was replaced by Farmer’s Business Network, […]
This Week in the Index: Form Energy Raises $405 Million, Hinge Health Gears Up for IPO, and More
It’s been a busy week for Prime Unicorn Index components. Form Energy raised a $405 million Series F, Hinge Health is preparing to file confidentially for a public offering, and many companies saw secondary market activity. Plus, Fidelity raised its first venture fund. Let’s take a look. On October 9, Form Energy announced it had […]
Automattic Loses 8.4% of Staff After CEO’s Ultimatum
Automattic, a component of the Prime Unicorn Index, recently made headlines when CEO and WordPress co-creator Matt Mullenweg gave his employees a striking ultimatum, according to CIO. Automattic, the company behind WordPress and the anti-spam tool Akismet, develops software that powers much of the web. Amidst internal disagreements over his handling of a dispute with […]
Cerebras Systems Files for IPO: AI Chip Firm’s Revenue Triples in 2023
In a significant move that highlights the booming AI sector, Cerebras Systems has filed for an IPO. The AI chip firm’s filing reveals impressive growth, with annual revenue more than tripling in 2023. Key Financial Highlights – 2023 Revenue: $78.74 million – 2022 Revenue: $24.62 million – Revenue Growth: Over 300% YoY – 2023 Net […]
KoBold Metals’ Series C Marks Significant Valuation Increase
KoBold Metals, a Prime Unicorn Index component last valued at roughly $1.2 billion, has authorized a new Series C round priced 98.6% higher than its Series B, now at $84.95 per preferred share. The increase comes as the company reportedly targets a $2 billion valuation in its upcoming fundraising. This significant jump reflects growing confidence […]
Insight Nearing Completion of $10 Billion Fund
Insight Partners is nearing completion of its 13th fund, which is expected to close at over $10 billion and potentially reach $12 billion, according to the Financial Times. While this fundraise falls short of the firm’s initial $20 billion target set in June 2022, it still represents a significant amount in the current venture capital […]