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SoftBank-backed Chinese grocery app Dingdong targets over $6b valuation in US IPO
Photo by Fikri Rasyid on Unsplash
June 23, 2021
Chinese unicorn Dingdong, backed by SoftBank Vision Fund II, is aiming for a more than $6 billion valuation in its New York debut as the grocery app joins Asian tech startups seeking to tap into the IPO boom in the United States.
The valuation represents a jump of over 20% from the $5.1 billion the company was worth after the Japanese conglomerate invested in it last month.
Dingdong said it aims to raise up to $357 million in its IPO as it seeks to navigate a crowded sector that has seen established players including Alibaba Group and Pinduoduo compete aggressively.
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Published on: Wednesday, April 14, 2021
By: Bloomberg
Bernama pic for illustration only.
SINGAPORE: Grab Holdings Inc, Southeast Asia’s most valuable start-up, is going public in the US through a merger with blank-check company Altimeter Growth Corp in what is the largest-ever deal of its kind.
The Singapore-based start-up is set to have a market value of about US$39.6 billion (RM163.77 billion) after the combination with the special purpose acquisition company (SPAC) of Brad Gerstner’s Altimeter Capital Management, the firms said.
Grab is raising more than US$4 billion from investors including BlackRock Inc, Fidelity International and T Rowe Price Group Inc as part of the biggest US equity offering by a Southeast Asian company.
(April 13):Grab Holdings Inc, Southeast Asia’s most valuable startup, is going public in the US through a merger with blank-cheque company Altimeter Growth Corp in what is the largest-ever deal of its kind.
The Singapore-based startup is set to have a market value of about US$39.6 billion after the combination with the special purpose acquisition company of Brad Gerstner’s Altimeter Capital Management, the firms said in a statement Tuesday. Grab is raising more than US$4 billion from investors including BlackRock Inc, Fidelity International and T. Rowe Price Group Inc as part of the biggest US equity offering by a Southeast Asian company.