Happy long weekend again! Here’s all we you need to know.<\/p>\n
DoorDash has been covered extensively in the media this week, and for good reason. The food delivery platform started trading on NYSE yesterday and saw its share price jump by 86%.<\/p>\n
Shares in DoorDash closed at $189.<\/p>\n
The company raised its price range twice within a week, and raised about $3.4 billion.<\/p>\n
It reported a surprise profit of $23m in Q2, due to the pandemic spike and has burned less cash than rivals like Uber Eats in the process.<\/p>\n
Another exciting IPO for the week. Whilst we were sleeping soundly, Airbnb had its public debut with a heightened valuation of $47 billion.<\/p>\n
Although revenue has declined in the past two quarters, understandably due to the pandemic, investors are clearly bullish and optimistic about the bounce back. Signs of recovery are also starting to show.<\/p>\n
After Airbnb\u2019s debut, shares surge by 118%<\/p>\n
Facebook may be getting closer to breaking up. This would mean Zuckerberg would be forced to sell and break up Instagram and Whatsapp, which would be a detrimental thing to happen to his connected ecosystem.<\/p>\n
The US Federal Trade Commission has filed a formal anti-trust lawsuit against the technology giant.<\/p>\n
The clause? They’re zoning in on Facebook\u2019s acquisition of Instagram for $715 million in 2012, and the $22 billion deal for messaging service WhatsApp in 2014.<\/p>\n
The FTC wants Facebook to divest the two businesses, which would definitely be a threat to Zuckerberg’s empire.<\/p>\n
If the unlikely happens, it would directly effect Facebook’s revenue, as its user growth has stabilized in its bigger markets, as well as ecommerce aspirations and demographics. Why? Kids are not using Facebook.<\/p>\n
Singapore’s Sea, owner of Garena and Shopee is planning to raise $2 billion in stock offering in the US for business expansion.<\/p>\n
It just won a license to open a digital bank in Singapore, which means a direct path for expansion into financial services.<\/p>\n
The money raised will likely be allocated towards acquisitions and investments for its growing games unit, as well as to allocate for the digital bank.<\/p>\n","protected":false},"excerpt":{"rendered":"
Happy long weekend again! Here’s all we you need to know. 1. DoorDash shares surge by 86% after public debut DoorDash has been covered extensively in the media this week, and for good reason. The food delivery platform started trading on NYSE yesterday and saw its share price jump by 86%. Shares in DoorDash closed […]<\/p>\n","protected":false},"author":2,"featured_media":1537,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[533,537,64,56,549,548,329,203,44,436,550,547,483,293],"yoast_head":"\n