E116: Tiktok US to have a $152b valuation, xAI raising $6b at $18b valuation, X/Twitter to launch TV app, Flexport wins Shein business, Stripe tech to accept stablecoin payments, Anduril wins another govt contract (unmanned jets)

Send us Fan Mail00:08 | Flexport wins Shein business- Flexport wins Shein US shipping business with deep tech integration- Shein to expand products outside of fashion and manufacturing from India/Latin America- Flexport has $1.5b secondary market valuation, -81% from last primary round in Mar 2022- Shein has $45b-$55b secondary market valuation, May 2023 primary round at $66b01:29 | X/Twitter to launch TV app- X TV App on all smart TV platforms- X seeks to directly compete against YouTube- Half of YouTube views are on its TV app and YouTube’s TV app has more viewership vs Netflix- Fidelity, a X shareholder, has a $12.5b valuation for the company, -72% vs Musk’s Apr 2022 purchase price02:55 | Tiktok US to have a $152b valuation- US govt has passed a law requiring ByteDance to divest Tiktok US business in 1 year or less- TikTok US has 170 million users- AG Dillon believes TikTok US could have a valuation up to $152b if sold “as is”- A $152b valuation places TikTok US as the 3rd largest pre-IPO stock globally05:24 | xAI raising $6b at $18b valuation- xAI is Elon Musk’s AI large language model business sourcing data from X/Twitter- Sequoia leading $6b round- Musk has already invested nearly $1b into xAI06:19 | Stripe tech to accept stablecoin payments- Online merchants using Stripe payment solutions will be able to accept payment in stablecoin cryptocurrencies- Solana, Ethereum, and Polygon platforms will be initially accepted- Stripe has a $74.1b secondary market valuation, +14% vs its Feb 2024 primary round07:43 | Anduril wins another govt contract (unmanned jets)- Anduril to develop and test unmanned fighter jets- Potential to win multi-billion-dollar production contract in 2026- US military aims to have a fleet of 1000 unmanned fighter jets- Anduril has a $13.0b secondary market valuation, +53% vs its Dec 2022 primary round08:42 | Pre-IPO +1.31% for week, +24.96% for last 1yr- Week winners: Chime +17.2%, Ramp +3.5%, Stripe +1.5%, Chainalysis +1.2%, Bytedance +1.1%- Week losers: OpenAI -2.7%, Anthropic -1.9%, Groq -1.5%, Flexport -0.9%, Revolut -0.7%- Top valuations: ByteDance $289b, SpaceX $185b, OpenAI $100b, Stripe $74b, Databricks $42b09:25 | +1.92% 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 +56%, Rippling +50%, Klarna +32%, 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 = Chime +17.2%, Automation Anywhere +1.8%, Stripe 1.5% and…losers = OpenAI -2.7%, Anthropic -1.9%, Revolut -0.7%- Chime is in the 2021, 2022, and 2023 Vintage Indexes; 3% to 4% weight in these indexes so not a material impact to overall TVPI for indexes