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Tag Archives: Investors News

Saudi and Abu Dhabi Investors to Contribute to SpaceX New Funding

Following a signed agreement between SpaceX and NASA, the government agency is considering SpaceX as an emergency return option for the ISS crew.  Elon Musk’s SpaceX is about to receive financial backing from Saudi Arabia and Abu Dhabi investors in a new funding round. This follows an equity funding round in May 2022, which generated about $1.7 billion and reached a $127 billion market worth. At the same time, the company was positioned to be the US most valued startup with more than $125...

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Alecta Offloads First Republic Bank Stake amid US Banking ‘Uncertainty’

Sweden’s largest pension fund Alecta dumped its First Republic Bank stake at a $728 million loss amid broader US banking losses.  Swedish pension fund Alecta recently offloaded its First Republic Bank (NYSE: FRC) shares following the latter’s massive drawdown. The leading Swedish pension fund was the fifth-largest shareholder at the embattled bank but now appears to have lost faith in First Republic. According to Alecta CEO Magnus Billing, uncertainty regarding the future of First Republic...

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Stripe Valued at $50 Billion after $6.5 Billion Raise

Stripe has retained its entity as a privately owned enterprise over the past ten years, despite persistent speculations about an IPO. Payment processor Stripe raised $6.5 billion at a $50 billion valuation, the firm announced, with a steep discount from its record valuation of $95 billion in 2021. According to the press release, the company doesn’t require money for expanding its business. The cash collection, with participation from Andreessen Horowitz, Founders Funds, Goldman Sachs, and...

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