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Highlights of the Week (September 17, 2021)

Highlights of the Week (September 17, 2021)
September 17, 2021

The Daily Stack is a daily private market insights newsletter by PrivCo, a private company intelligence platform. Read our previous insights.
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A story that caught my eye this week covered the $40BN valuation of Canva, the drag & drop design application making design more accessible to the mainstream. It wasn’t the monumental valuation (although it’s second only to Stripe in private cloud companies), or the staggering 180K eager applicants applying for a job in the last 12 months; it was the cofounders’ plans to donate 30% of the company (most of their stake) to charity. As stated by co-founder Melanie Perkins, “If the whole thing was about building wealth, that would be the most uninspiring thing I could possibly imagine.” 

While it has become commonplace for billionaires to create their own foundations or charities, the amount contributed often amounts to little more than a few days of their income. This approach by the millennial co-founders from Australia, of denying themselves billionaire status, is a refreshing one.

Here’s a look back on the topics from this week’s Daily Stack:

  • We looked at how D2C brands of the 2010s are maturing and, much like the ending of any idealistic youth, are turning to tactics employed by their more traditional predecessors. But they have left their mark on retail and helped guide some surviving dinosaur brands into a new era. Find out more here.

  • After fundraising comes the even harder part: hiring. Cofounders struggling with small or in-demand networks will have a hard time making the all-important early hires. VCs are helping with intros & emails but also offering unique job boards for their portfolio companies. Learn what startups are doing with their last round of funding here.

  • Live sports took a hit in 2020, but the valuations of the world’s top sports teams continue to climb higher. We ranked global sports teams by valuation in Wednesday’s report. Check it out here.

  • Turns out, the UX design feature of having a mini-reflection of ourselves -- on Zoom, Hangouts, and FaceTime -- has had an impact on cosmetic procedures. Check out the Zoom effect on beauty here.

Since last week, PrivCo has added:
566 Companies | 65 Funding Activities | 53 M&A Deals

Funding & Deal Highlights:

Stord raises $90MM from Kleiner Perkins

Distribution Logistics • Round D • Atlanta, GA

1047 Games, makers of Splitgate, raises $100MM from Lightspeed Venture Partners

Games • Equity • Zephyr Cove, NV

Locus Robotics raises $50MM from Tiger Global Management

Industrial Products • Round E • Wilmington, MA

Peach Finance raises $20MM from Caffeinated Capital

Fintech • Round A • Oakland, CA

Tia raises $100MM from Lone Pine Capital 

Telehealth • Round B • San Francisco, CA

EnerVenue raises $100MM from Schlumberger New Energy

Semiconductors • Round A • Fremont, CA

Zonos raises $69MM from Silversmith Capital Partners

E-Commerce • Round A • Saint George, UT

Allay Therapeutics raises $60MM from Arboretum Ventures

Biotechnology • Round C • Menlo Park, CA 

Clockwork Logistics Systems raises $5.5MM from Newtown Partners

Logistics Services • Seed • Elk Grove, CA

Battery Ventures acquires Goodfellow Inc. 

Chemicals & Plastics • Acquisition • Delson, Canada

GI Partners acquires LightEdge Solutions

Data Centers • Acquisition • Des Moines, IA

BAE Systems acquires In-Space Missions

Aerospace • Acquisition • London, UK

Kape Technologies acquires ExpressVPN for $936MM

Cyber Security • Acquisition • London, UK

Zoll Medical acquires Itamar Medical for $538MM

Health Care Equipment • Acquisition • Caesarea, Israel

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