E64: Arm up 25% on IPO, Databricks raises at $43b, Starlink revenue up 533%, Dimon tells founders to “grow up”, | Pre-IPO Stock Market Update – Sep 15, 2023

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00:10 | Arm up 25% on IPO
- Arm is 90% owned by Softbank
- IPOed at $54.5b, closed at $65b
- Last round at $64b in Aug 2023
- Apple, Google, Nvidia purchased $735m of shares

01:37 | Dimon tells founders to “grow up”
- Dimon says 2020/2021 valuations were overpriced
- “…if you can go public, you want to go public, you need to go public, don’t wait too long.”

02:15 | Databricks raises at $43b
- $500m led by TRowe, Nvidia participated
- +13% from last round in Aug 2021, +39% from Oct 2022 internal valuation
- Company is eying the IPO market

03:17 | Starlink revenue up 533%
- $1.4b in 2022 revenue, up from $222m in 2021
- On track for 2.5m subscribers by end of 2023, averaging 127,000 new subscribers per month
- 37% of world’s population (3 billion people) has zero access to the internet

04:23 | Big capital raises
- Ola Electric (www.olaelectric.com) | $140m Series E, $5.4b valuation
- Getir (www.getir.com) | $500m Series G, $2.5b valuation
- Ascend Elements (www.ascendelements.com) | $460m Series D, $1.4b valuation
- Zopa (www.zopa.com) | $96m Series J, $1.1b valuation
- Imbue (www.imbue.com) | $200m Series B, $1.0b valuation

05:51 | Pre-IPO +0.58% for week
- IPO Watch:
...Arm (Sep 14) = $54.5b IPO valuation << $65.2b first day public close, last round $64b in Aug 2023
...Instacart (Sep 19) = $9.3b IPO valuation << $12.4b 2ndary valuation, last round $39b Mar 2021
...Klaviyo (Sep 20) = $8.4b IPO valuation << $4.3b 2ndary valuation, last round $9.5b Jul 2022

- Week winners: Chime +15.0%, Flexport +3.5%, Brex +3.1%, Ramp +2.1%, Rippling +2.0%
- Week losers: Airtable -6.2%, Databricks -5.1%, Klarna -3.3%, Anduril -2.2%, Discord -1.2%
- Top valuations: ByteDance $210b, SpaceX $153b, Stripe $51b, Databricks $33b, OpenAI $32b