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Pine Labs parent company converts into public company ahead of IPO
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Pine Labs Singapore Parent Converts Into Public Company Ahead Of IPO
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By Steve Goldstein
denis charlet/Agence France-Presse/Getty Images
The megacap technology stocks have been outperforming the broader market of late. The NYSE FANG+ index (XX:NYFANG) which includes Facebook (FB), Alphabet (GOOGL), Amazon (AMZN) and Apple (AAPL) has climbed 5% over the last month, compared with just 1% growth for the equal-weighted S&P 500 (XX:SP500EW).
Given the relief in bond yields, that makes intuitive sense. Tech stocks struggled when the yield on the 10-year Treasury (BX:TMUBMUSD10Y) rose as high as 1.75%, which by Thursday’s close had fallen down to 1.30%. The knee-jerk expectation in markets is that when interest rates rise, tech stocks fall, and vice versa.
Indian startups raise $12 billion till June
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Indian startups raised $12.1 billion from venture capitalists and private equity firms in the first six months this year, beating the last calendar year’s overall funding by $1 billion, Venture Intelligence data shows.
ETtech
Illustration: Rahul Awasthi
Mumbai: Indian startups raised $12.1 billion from venture capitalists and private equity firms in the first six months this year, beating the last calendar year’s overall funding by $1 billion, data compiled by Venture Intelligence shared with ET showed.
The continued flow of funds at steep valuations helped catapult a record number of startups into the unicorn club privately held companies with a valuation of $1 billion or more.
Pine Labs Raises $600 Mn Funding Led By Fidelity, BlackRock
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