E62: OpenAI $1.0b revenue, Klarna 67% better net income, Redwood raises $1.0b!, Elf buys Naturium for $355m, Cohere to raise, Greyscale to spot BTC ETF? | Pre-IPO Stock Market Update – Sep 1, 2023

Send us Fan Mail00:09 | Redwood raises $1.0b!- Redwood Materials, a battery recycling startup, raised $1 billion in a Series D round co-led by Goldman, T Rowe Price at an estimated $5.0b valuation- US Dept of Energy also provided a $2 billion loan00:41 | Greyscale beats SEC in lawsuit for spot BTC ETF?- Federal appeals court challenges SEC's denial of Grayscale's bitcoin spot ETF application- Court says SEC’s decision was "arbitrary and capricious"- Bitcoin-related assets surge02:06 | OpenAI revenue projected for $1.0b- OpenAI is posting $80m in monthly revenue vs $28m one year prior, outpacing estimates- ChatGPT Enterprise announced this week. Aims to assist employees in learning new skills and analyzing internal data. Focus on data privacy.03:41 | Elf Beauty buys Naturium for $355m- Elf doubles its skincare market share- Elf's stock rises 250% in a year- Investor interest in beauty brands is hot!04:32 | Klarna’s net income +67% better in 1H 2023- Klarna reduces losses by 67% in H1 2023, with a 21% increase in net operating income- Company emphasizes AI advancements, launching a feature that saves 60,000 hours annually.05:45 | Cohere AI to raise a primary round- Cohere hires JPMorgan and Goldman to raise capital- Tiger Global is selling in the secondary at a $3.0b valuation- Cohere last raised in the primary at $2.2b in Jun 202306:11 | Big capital raises- Ramp (www.ramp.com) | $300m Series D, $5.8b valuation- Gympass (www.gympass.com) | $85m Series F, $2.4b valuation- Zepto (www.zeptonow.com) | $200m Series E, $1.4b valuation- Korea Credit Data (www.kcd.co.kr) | $76m Series F, $990m valuation- Cellares (www.cellares.com) | $255m Series C, $666m valuation07:09 | Pre-IPO +0.75% for week- IPO Watch: I have Instacart at a $12.4b valuation, Klaviyo $4.3b. Keeping an eye out on where this IPOs will price.- Week’s winners: Instacart +9.1%, Anthropic +6.8%, Databricks +5.9%, Brex +2.1%, SpaceX +2.0%- Week’s losers: Neuralink -19.3%, Deel -8.7%, Airtable -8.4%, Rippling -7.6%, Chainalysis -3.1%- Top 5 largest companies by valuation: ByteDance $206b, SpaceX $150b, Stripe $49b, Databricks $35b, OpenAI $32b