This Week in Pre-IPO Stocks - Market Update - Apr 21, 2023 - E43

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Pre-IPO Stock Market Update - Apr 21, 2023 | Tech billionaires + fusion, Klarna ad revenue growth, Discord financials disclosed, 'ChatGPT for Business'

00:33 | Tech billionaires invest into nuclear fusion companies
- Sam Altman (OpenAI), Peter Theil (Founders Fund); Helion Energy ($3.7b val, Nov 2021)
- Marc Benioff (Salesforce), Bill Gates  (Microsoft); Commonwealth Fusion Systems ($1.8b val, Dec 2021)
- Jeff Bezos (Amazon); General Fusion
- Vinod Khosla (Khosla Ventures); Realta Fusion
- Chris Sacca (Lowercase Capital); Avalanche Energy ($130m val, Apr 2023)

03:05 | Klarna app  updates to drive ad revenue
- added; AI discovery feed (like TikTok), customized shops for social media content creators, ability to sell secondhand goods
- AI will build a personal profile of shoppers based on shopping behavior, brands they like and provide recommendations to merchants
- Klarna already generates 10% of revenue from advertisements
- Klarna management forecasting monthly profitability in a few months time

04:59 | Discord financial update
- 2022 revenue $445m; up 44% yoy
- 2021 revenue was up 126% yoy
- 2022 ebitda $66m
- Q1 2023 ebitda -$11m, nearly double Q1 2022 ebitda -$6m
- Fidelity marked Discord’s valuation at $9.4b; -36% from last primary round in 2022 ($14.7b)

05:58 | OpenAI for Business
- Businesses will maintain control over the data they generate
- Controls include; turning off their chat histories to prevent OpenAI from using the data to train its language models and customizing models for individual users so their privacy is not compromised

07:16 | Large capital raises
- Getir | $300m Series F, $6.5b valuation
- Razor Group | $88m Series C, $1.2b valuation
- Odeko | $54m Series D, $604m valuation
- Coronet | $75m Series D, $575m valuation
- Cosmose AI | Series B, $500m valuation

08:26 | Pre-IPO stock market performance
- Pre-IPO stocks were down for the week -1.41%, S&P 500 -0.09%. 
- YTD pre-IPO stocks trail the S&P by about 21%.
- YTD Kraken and SpaceX are the stars, up 6% and 2% respectfully. 7 pre-IPO stocks in the index are down over 20% YTD; Discord, Stripe, Airtable, Brex, Epic Games, Chime, and Flexport.
- Kraken +8.78%. Brex -14%, Stripe -8%, Revolut -5%, Flexport -3%.

AG Dillon & Co venture capital funds...
- SpaceX Fund = www.agdillon.com/spacex
- OpenAI Fund = www.agdillon.com/openai