Equity Yandex takes a big hit to get rid of Russian assets
7 snips
Feb 5, 2024 Investors are grappling with fluctuating global stocks and the enduring threat of high interest rates. Yandex is making a significant move by exiting Russia, selling assets at steep losses due to sanctions. Everbridge has agreed to go private for $1.5 billion, raising questions about its current valuation. Meanwhile, startup funding is thriving, with Wonder Ventures launching new funds and ProducePay tackling food waste. Lastly, a jaw-dropping scam involving deepfake technology highlights vulnerabilities in corporate communications.
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Yandex Exits Russia
- Yandex NV, the Dutch parent of the Russian internet giant, is selling its remaining Russian businesses at a 50% discount.
- This discount is due to a Russian government rule impacting companies from "unfriendly" countries.
Everbridge Goes Private
- Everbridge, a critical event management software company, will go private in a $1.5 billion all-cash deal with Thoma Bravo.
- While seemingly a 50% premium, the deal represents a 32% premium based on the three-month volume-weighted average share price.
Wonder Ventures Raises Capital
- Wonder Ventures has secured $102 million in new commitments across two funds: a $57 million pre-seed fund and a $45 million late-stage opportunity fund.
- It is encouraging to see more early-stage funds raising capital, as they support emerging companies.