This Week in Pre-IPO Stocks - Market Update - Mar 17, 2023 - E38

Send us Fan MailPre-IPO Stock Market Update - Mar 17, 2023 | Tiger Global marks down pre-IPO stocks, eToro cap raise, Checkout launches debit card issuing, Tyler's Corner (Revolut, Rippling, SpaceX)00:34 | Tiger Global marked down one of its venture fund portfolio by 33%, or $23b- SoftBank Group marks down 30% Vision Fund 2 ($48b)- Preferred shares play an interesting role in this valuation processPreferred shares have a liquidation preference, meaning that the preferred shareholder is guaranteed some level of return before other shareholders lower on the cap table are paid out.02:12 | eToro secures $250M at a $3.5B valuation- The company was to go public via a SPAC but called off the deal in Jul 2022- Round was via Advanced Investment Agreement (AIA)- 2.8m total 2022 funded accounts; up 17% from 2021 and 180% from 2022- $631m total 2022 commissions; down 49% from 2021 and up 5% from 2020- $5.8 billion in assets under administration across 100 countries03:06 | Checkout.com launches virtual and physical card issuing- The company has been testing Checkout.com Issuing for a while, and millions of cards have already been created with the new service- Checkout.com customers now have an opportunity to earn interchange revenue- $40b valuation at it last primary financing round in Jan 2022 but issues a 409A in Dec 2022 at $11b04:32 | Tyler's Corner by Tyler Siconolfi- Revolut partnered with Comic Relief to make it easier for Revolut customers to donate to those living in poverty. Comic Relief is a poverty focused charity in England.- Rippling raised $500m in Series E financing in just 12 hours from Greenoaks, a long-time investor. The money was used to help Rippling’s customers pay employees that did not receive paychecks due to SVB failure.- SpaceX CEO Elon Musk announced that they will perform their first orbital test flight of Starship in April and is waiting on FAA approval05:42 | Large capital raises- Stripe | $6.5b Series I, $56.5b valuation- Rippling | $500m Series E, $11.8b valuation- Adept | $350m Series B, $1.0b valuation- Prizeout | $160m Series C, $760m valuation- Paige | $20m Series D, $650m valuation06:27 | Pre-IPO stock market performance- Pre-IPO stocks were down 3.54% for the week vs the S&P 500 up by 1.36%. Not a great week- YTD pre-IPO stocks still trail the S&P by about 8.5%- OpenSea and Kraken are both up north of 20% … Stripe, Airtable, Epic Games, and Chime are all down over 20%- No big winners this week. Kraken led the pack up 0.43%. Brex was down 17% for the week. Deel was down 14%. Revolut down 6%.AG Dillon & Co venture capital funds...- AG Dillon SpaceX Pre-IPO Stock Fund = www.agdillon.com/spacex- AG Dillon Pre-IPO Equity Fund (top 15 pre-IPO stocks) = www.agdillon.com/top15Subscribe or follow...Youtube = https://www.youtube.com/channel/UCSpr_9yjBA7dhqnQexSu7LAApple Podcasts = https://podcasts.apple.com/us/podcast/this-week-in-pre-ipo-stocks/id1653598601Spotify Podcasts = https://open.spotify.com/show/2ryF1V6y712AsizaRjImOHInstagram = https://www.instagram.com/aarongdillon/Facebook = https://www.facebook.com/profile.php?id=100089996314705LinkedIn = https://www.linkedin.com/company/ag-dillon-co