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Equity

Big wins for Latin America, climate tech momentum and Rover’s $2.3B sale

Dec 1, 2023
Topics include self-driving setbacks, Webull's purchase of Flink, Rover's $2.3B sale, upcoming IPOs of Shein and Reddit, European startup rebound, and the Australian startup scene.
36:37

Podcast summary created with Snipd AI

Quick takeaways

  • Shein and Reddit's upcoming IPOs are expected to contribute to the rebound of the European tech ecosystem, which saw a drop in value in 2022 but has returned to its 2021 record of $3 trillion.
  • The Australian and New Zealand tech markets are experiencing sober valuations, leading to more mature startup acquisitions, strategic mergers, and joint ventures.

Deep dives

Shein and Reddit expected to go public in 2024

Fashion retailer Shein and social media platform Reddit are both planning to go public in 2024. Shein is seeking a valuation of $90 billion, up from its previous valuation of $64 billion. Reddit has been delaying its IPO since 2017 but is now aiming to go public in Q1 2024. Both companies are expected to contribute to the rebound of the European tech ecosystem, which saw a drop in value in 2022 but has returned to its 2021 record of $3 trillion. The European startup funding is estimated to reach $45 billion in 2023, showing an increase from the previous year.

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