E74: $15b of 2024 SpaceX revenue, Shein to IPO!, Klarna to IPO!, xAI launches LLM model, OpenSea lays off 50% | Pre-IPO Stock Market Update – Nov 10, 2023

Send us Fan Mail00:07 | Klarna to IPO!- Klarna, a buy now pay later company, is setting up a new British holding company, a step towards a potential IPO- Current secondary market valuation is $6.2; IPO rumored at $15b, 142% increase01:17 | xAI launches LLM model- Grok is xAI’s first product, a LLM model to compete with OpenAI ChatGPT and Google Bard- Grok has been trained on X/Twitter data- xAI is an independent company from X and has yet to raise external capital02:07 | OpenSea lays off 50% of staff- Exact number of affected employees undisclosed- Current cuts follow a 20% staff reduction in Jul 2022 and 10 staff in May 2023- OpenSea transaction volume is down 99% since start of 202203:05 | $15b of 2024 SpaceX revenue- $9.0b in 2023 estimated revenue- $3.0b in 2023 estimated EBITDA- $15b in 2024 estimated revenue, a 67% year over year increase- Starlink now cash flow positive and will be a majority of SpaceX revenue in 202404:16 | Shein to IPO!- Shein targets up to $90 billion valuation for a potential U.S. IPO- IPO valuation is higher than the $64 billion earlier this year but below Apr 2022's $100 billion- Shein is positioning itself as a global brand, moving its base to Singapore and recruiting international leaders05:26 | Big capital raises- Next Insurance (www.nextinsurance.com) | $265m Series G, $2.5b valuation- Zilch (www.zilch.com) | Series D, $2.0b valuation- WeLab Holdings (www.welab.co) | $260m Series E, $2.0b valuation- Tabby (www.tabby.ai) | $200m Series D, $1.5b valuation- SkyCell (www.skycell.ch) | $57m Series D, $600m valuation06:26 | Pre-IPO +0.36% for week* NOTE: Pitchbook posted Anthropic's Oct 2023 primary round at $25.0b post-money valuation. This has now been updated in the implied valuation report below.- Week winners: Brex +9.11%, Epic Games +2.48%, Airtable +1.48%, Deel +1.08%, SpaceX 0.92%- Week losers: Anthropic -2.97%, Byju's -1.61%, Reddit -1.25%, Stripe -0.81%, Databricks -0.51%- Top valuations: ByteDance $204b, SpaceX $153b, OpenAI $80b, Stripe $51b, Databricks $47b lead in current valuationInvest in pre-IPO stocks with AG Dillon Funds - www.agdillon.com