E112: OpenAI extends $86b tender, ByteDance/TikTok stock buyback!, Humane AI Pin officially launches, Revolut’s India regulatory approval

Send us Fan Mail00:08 | ByteDance/TikTok stock buyback!- Expanding Q4 2023 buyback to non-US employees- $171/share for employees, $145/share for former employees- $112b in 2023 annualized revenue (run rate as of YTD Q3 2023)- $285b current secondary market valuation- Meta, about same revenue, at $1.32 trillion market cap01:09 | OpenAI extends $86b tender- Extending $86b tender to former employees- $150/share price- Revenue: $2.0b in Dec 2023 annualized, $5.0b in Dec 2024 forecast- $103b current secondary market valuation based on $150/share price02:14 | Humane AI Pin officially launches- Alternative to a smartphone, pin onto your shirt- Engage by talking to the AI Pin- $699 for AI Pin + $24/month subscription- Rabbit R1 is main competitor; “large action model” is very cool- Closed in Series C in Jul 2023 raising $100m at a $850m valuation03:36 | Revolut’s India regulatory approval - Reserve Bank of India approves for Prepaid Payment Instruments, including prepaid cards and wallets- Revolut already has RBI approval for Category-II Authorized Money Exchange Dealer, multi-currency forex cards, and cross-border remittance services- Received bank approval from Mexican regulators last week- $19.2b secondary market valuation, -42% from its last primary round in Jul 202104:44 | Pre-IPO +0.38% for week, +20.43% for last 1yr- Week winners: Groq +10.8%, Klarna +5.1%, Neuralink +3.8%, ConsenSys +2.9%, Hugging Face +2.7%- Week losers: Ramp -17.9%, Chime -1.3%, Cohere -1.1%, Chainalysis -0.8%- Top valuations: ByteDance $286b, SpaceX $185b, OpenAI $103b, Stripe $94b, Databricks $42b05:38 | +0.98% 2024 Pre-IPO Stock Vintage Index- www.agdillon.com/index to see all 20 Pre-IPO Stock Vintage Indexes- 2024 Vintage Index top contributors since inception: Stripe +54%, Rippling +50%, Revolut +28%- 2024 Vintage Index top detractors since inception: None. All 10 constituents are in positive territory. - Looking at all 20 vintages … here are the winners and losers for the week; …winners = Automation Anywhere +22.3%, Klarna +5.1%, Databricks +2.3% and…losers = Tanium -3.2%, Chime -1.3%- Automation Anywhere is only in the 2020 Vintage Index. It has a 2% current weight in the index so not a major impact to TVPI.