This Week in Pre-IPO Stocks - Market Update - May 26, 2023 - E47

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Klarna’s great Q1, TikTok Shop launches, Chime revenue up big, Neuralink to put chips in human brains, Instacart drives ad revenue, Revolut + 30m customers, Starlink wins Pentagon contract | Pre-IPO Stock Market Update - May 26, 2023

00:33 | Klarna’s great Q1
- Klarna reports a 50% reduction in net loss in its Q1 results.
- Revenue boost driven by customer adoption and merchant partnerships, signaling the growing popularity of Klarna's flexible payment options.
- Klarna’s current valuation at $6.5b down 2.6% from its last round in Jul 2022.

01:20 | TikTok Shop launches
- TikTok integrates shopping features into its platform in Southeast Asia with TikTok Shop, posing a threat to established players like Shopee and Lazada.
- ByteDance, TikTok’s parent, is the largest pre-IPO stock globally with a $220b valuation.

02:01 | Chime revenue up big
- Chime reports a 27% revenue growth in Q1, showcasing its ability to generate significant revenue despite challenges.
- Chime is down 74% from its last primary financing round in Sep 2021 where the company printed a $25b valuation, current valuation is $6.5b

02:52 | Neuralink to put chips in human brains
- Neuralink receives regulatory approval for its first human trial, marking a significant milestone in its goal of connecting the human brain with computers.
- The trial will focus on testing Neuralink's technology to address neurological conditions and enhance human cognition, paving the way for potential advancements in brain-computer interfaces.
- Neuralink’s current valuation is $1.7b

03:33 | Instacart drives ad revenue
- Instacart's advertising business experiences significant growth, leveraging its customer base and transaction data for advertising partnerships.
- The growth highlights Instacart's potential as a dominant player in the online advertising space, providing brands with valuable opportunities to target engaged online grocery shoppers.
- Current valuation of $11.5b; -74% from its last primary round at $45b in Aug 2021

04:33 | Revolut + 30m customers
- Revolut surpasses 30 million retail customers globally, showcasing continued growth and popularity.
- Revolut is down 53% from its last primary round in Jul 2021. Current valuation stands at $15.6b.

05:16 | Starlink wins Pentagon contract
- SpaceX secures contract with the Pentagon to launch satellites for Ukraine, showcasing its growing prominence in the space industry.
- The contract highlights SpaceX's reliability and cost-effectiveness in providing launch services and signifies the increasing role of private space companies in supporting national security and international partnerships.
- SpaceX has a $137b valuation as of its last primary round in Jan 2023.

06:04 | Big capital raises
- Ola Electric | $300m Series I, $6.0b valuation
- Anthropic | $450m Series C, $5.0b valuation
- Insider | $105m Series C, $2.1b valuation
- Amplify | $350m Series C, $1.9b valuation
- Lyten | $100m Series C, $1.6b valuation

06:57 | Pre-IPO -1.34% for week, S&P 500 +0.36%. 
- YTD pre-IPO stocks still trail the S&P by about 28%.
- Year to date. Kraken +5.17%. Stripe, Epic Games, Discord, Flexport, Chime, and Brex all -30% or more.
- This week. Discord +2.01%. Databricks -4.80%. Chime -4.93%. Flexport -12.41%.