Equity Monday: A global selloff to kick off Disrupt week
Sep 20, 2021
Global stock markets are in turmoil, with concerns over China's Evergrande crisis affecting both traditional equities and cryptocurrencies. Meanwhile, the startup scene is buzzing with funding highlights, including a French hosting company going public and major raises in used car marketplaces. The excitement builds for Disrupt week, featuring panels galore and anticipated IPOs from Toast and FreshWorks. Amidst all this, Facebook grapples with its image issues, making for an intriguing backdrop to the week's events.
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insights INSIGHT
Market Instability
Global markets are down due to concerns about Chinese real estate developer Evergrande's debt.
This market instability affects tech company valuations and startups.
insights INSIGHT
Unicorn Traffic Jam
OVH Cloud, a European cloud hosting company, plans to go public with a valuation of up to $4.7 billion.
Despite this and other IPOs, the number of new unicorns still exceeds the number of exits.
insights INSIGHT
Cars24 Funding
Cars24, an Indian used-car and motorbike marketplace, raised $450 million in Series F funding.
Alex expresses skepticism about car-selling startups' profitability despite growth.
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This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here. I also tweet.
A few things this morning:
I shook up the show format a little, including how the script came together and how it was organized. Hit me up on Twitter if you have notes.
Disrupt is this week, so strap thyself in for the best tech event of the year, coming to your living room. The Equity team is hosting -- between the group of us -- a zillion panels and one of the two stages. Come hang out with us. It's going to be on heck of a show.
On the news front, the global stock market is taking a whacking. US stocks are set to fall after European stocks went lower thanks to concerns that the Chinese property developer Evergrande and its constituent debt issues could spread to other parts of the market, possibly leading to contagion.
Cryptos are also off sharply in the last 24 hours, so there sems to be little refuge in today's markets.
And we are expecting IPOs from both Freshworks and Toast this week.
It's going to be a very busy few days. Pour some extra coffee, and get hype.
Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.
Equity