This Week in Pre-IPO Stocks - Market Update - Mar 24, 2023 - E39

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Pre-IPO Stock Market Update - Mar 24, 2023 | New SpaceX capital raise, Epic Games launches new creator payout model, Klarna launches OpenAI plugin, Tyler's Corner (Deel, Databricks, Kraken)

00:34 | New SpaceX capital raise
- Badeel (Saudi Arabia’s Water and Electricity Holding Company, part of Saudi's Public Investment Fund) and United Arab Emirates’ Alpha Dhabi are investing
- $74 and $79 per share, ballpark $140 billion
- Last round was $137b in Dec 2022

01:30 | Epic Games launches new creator payout model
- Epic introduced “Creator Economy 2.0” ... pay out 40 percent of Fortnite’s net revenues to creators based on how much players engage with their islands, estimated at $400m per year
- Previous “Support-A-Creator” system ... creators would only get 5 percent of a users purchase from the Epic store, users also had to input a unique creator code so the process was very complicated, many Fortnite creative studios relied on brand deals for income, building virtual worlds to advertise brands like Verizon, Chipotle, or Balenciaga.

02:41 | Klarna launches OpenAI plugin
- Shoppers can ask for specific shopping recommendations
- If the options provided are not suitable, the user can ask additional questions or request more product recommendations
- When shoppers click on the link that is provided in the chat, it then re-routes them to Klarna’s search and compare solution

03:45 | Tyler's Corner by Tyler Siconolfi
- Deel has struck a partnership with RAMP Global, another management and human resources platform based out of London. This partnership will empower RAMP to accelerate the talent search and hiring process and reduce costs.
 - Databricks launched an AI chatbot called ”Dolly”. Dolly is considered to be a cheaper alternative than OpenAI’s ChatGPT and allows companies using Databricks to use AI while not giving away their data to a third party.
- Kraken has inked a sponsorship deal with the United Kingdom based Formula One racing team, Williams Racing.

04:41 | Large capital raises
- eToro | $250m Series G, $3.5b valuation
- Kin | $109m Series D, $859m valuation
- Thunes | $30m Series C,  $776m valuation
- Ably | $38m Series C, $725m valuation
- Amogy | $139m Series C,  $589m valuation

05:34 | Pre-IPO stock market performance
- Pre-IPO stocks were down 1.85% for the week vs the S&P 500 up by 1.09%. 
- YTD pre-IPO stocks still trail the S&P by about 11.25%.
- Not much movement in the YTD company level numbers … OpenSea is now up over 30% … Kraken has come way off and is now only up 9% year to date. Stripe, Airtable, Epic Games, and Chime are still all down over 20%.
- Deel and Rippling were both up about 2.5% for the week.
- Kraken got smoked this week, down 10.5% for the week. Revolut was down 9%. Brex was down 5%.

AG Dillon & Co venture capital funds...
- AG Dillon SpaceX Pre-IPO Stock Fund = www.agdillon.com/spacex
- AG Dillon Pre-IPO Equity Fund (top 15 pre-IPO stocks) = www.agdillon.com/top15

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