Southeast Asia games firm Sea, formerly Garena, files for $1 billion US IPO

 Southeast Asia-based games and e-commerce firm Sea, formerly known as Garena, has officially filed for its much-anticipated U.S. IPO. The company, which is valued at over $3.75 billion, will list on the New York Stock Exchange as ‘SE’ and is looking to raise $1 billion. Sea is best known for its Garena gaming business, which predominantly focuses on PC games but also includes… Read More

Database provider MongoDB has filed to go public

 MongoDB, a database software company based in New York, has filed to go public with the Securities and Exchange Commission as it continues to burn a ton of cash despite its revenue almost doubling year-over-year. The company, which provides open-source database software that became very attractive among early-stage startups, is one of a myriad of companies that have sought to go public by… Read More

Ripio Credit Network launches, aiming to attack bank loan fees in emerging markets

 Ripio Credit (formerly BitPagos), the project that reached the finals at last year’s TechCrunch Disrupt Battlefield in New York, is about to launch its new venture. The Ripio Credit Network (RCN) will be public in November and is designed to grow the product and platform outside Latin America, into the fast-emerging developing world. Born in Argentina, the original idea was to widen… Read More

SEC shows support for ICO’s that are not obviously securities

 The SEC appears to have taken very thoughtful action on two crypto projects to date.  Nay-sayers are predicting the end, while proponents of crypto dismiss the actions. Here’s a quick analysis of what is actually happening.  The two recent steps by the SEC were: The SEC actually issued a letter on one project – the ill-fated DAO.  This was a project that allowed investors in… Read More

Is it exit season yet?

 Startup funding and exiting activity has been slow over the past few months in the U.S. Fewer companies closed rounds, IPO volumes were light, and not a lot of big M&A deals got done. But that’s to be expected, right? After all, it was summer break. Now that Labor Day’s over and we’re back at our desks, we can expect deal volumes to pick up. That seasonal explanation for… Read More

Equifax stock tumbles 14% after credit score hack

 Credit score business Equifax revealed Thursday that 143 million people were compromised in a cyber attack. Social security numbers and other personally identifying information were accessed. And guess what, the stock market didn’t like it! The company lost about $2 billion in market cap Friday after tumbling nearly 14%.  Apparently, the company has known about the hack since July 29,… Read More

Bitcoin price drops following report that China is going to shut down local exchanges

 Another day, another crash and another Chinese ban. This time, a single report from financial news site Caixin is saying that the Chinese government is considering banning cryptocurrency exchanges in China. In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa. Cryptocurrencies… Read More

Equifax execs dumped stock before the hack news went public

 In today’s edition of unfettered corporate greed, we bring you the Equifax managers who apparently sold almost $1.8 million in stock after the company became aware that it had a big problem on its hands. As Bloomberg reports, three of the company’s senior executives sold nearly $1.8 million in shares after the company learned internally that it had exposed the private data,… Read More

Okta has a great earnings day on the back of strong international growth

 Okta kept its beat-streak alive today with a healthy earnings report. On the back of international growth and a healthy services business, Okta beat revenue expectations by nine percent and managed to handedly top EPS expectations. Analysts had been expecting about $55.9 million in revenue with a loss of $0.26 per share. Instead, Okta reported $61 million in revenue with $0.16 loss per… Read More