E65: Next IPOs? Stripe, Klarna, eToro, Databricks; Neuralink puts computers in human brains; TikTok Shop ramps up US presence; Flexport founder Ryan Peterson back as CEO | Pre-IPO Stock Market Update – Sep 22, 2023

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00:10 | Next IPOs? Stripe, Klarna, eToro, Databricks
- Stable IPO valuations are favorable for pre-IPO companies, market is ready for more IPOs
- Arm, Instacart, Klaviyo IPOs bring transparency to private primary and secondary market valuations/multiples
- Probable next IPOs with go logic = Stripe, Klarna, eToro, Databricks, Starlink spun out of SpaceX

04:00 | Neuralink puts computers in brains
- First brain-computer interface (BCI) human trail approved by FDA 
- Goal is to allow participants to control a computer cursor or keyboard using their thoughts alone
- $2.6b current valuation in the private secondary market

05:24 | TikTok Shop ramps up US presence 
- TikTok Shop allows users to buy directly within TikTok social media app
- Currently $6m per month in gross sales, $500m total loss as of Aug 2023
- TikTok, a ByteDance company … ByteDance is currently the largest pre-IPO stock, valued at $210 billion

06:21 | Flexport founder Ryan Peterson back as CEO
- Revenue dropped nearly 70% to around $700 million in the first half of this year
- Petersen aims to revitalize Flexport by cutting waste and addressing customer quality issues
- $3.1b secondary market valuation, down 62% from its last primary round

07:26 | Big capital raises
- Databricks (www.databricks.com) | $500m Series I, $43.5b valuation
- EquipmentShare (www.equipmentshare.com) | $440m Series E, $3.6b valuation
- Shield AI (www.shield.ai) | $150m Series F, $2.5b valuation
- Generate Biomedicines (www.generatebiomedicines.com) | $273m Series C, $2.0b valuation
- VideoAmp (www.videoamp.com) | $150m Series G, $1.6b valuation

09:23 | Pre-IPO -1.15% for week
IPO Watch as of close Sep 22, 2023:
...Arm = $52.7b market cap, +0.6% from $51/share IPO price
...Instacart = $8.3b market cap, flat from $30/share IPO price
...Klaviyo = $8.4b market cap, +11.3% from $30/share IPO price
* Note: see disclosure below, stated market caps not fully diluted market caps

Week winners: Databricks +4.72%, Brex +3.80%, Deel +3.06%, Stripe +2.10%, SpaceX +1.70%

Week losers: Flexport -10.54%, Chime -8.39%, Neuralink -7.22%, ConsenSys -7.03%, -4.97% Reddit

Top valuations: ByteDance $210b, SpaceX $156b, Stripe $52b, Databricks $35b, OpenAI $32b lead in current valuation