Pete Buttigieg raises $1 million within four hours of 2020 campaign announcement

In the 24 hours after launching an exploratory committee in late January, for instance, Buttigieg raised about $120,000, according to spokeswoman Lis Smith. But after his campaign launch Sunday, Buttigieg collected seven figures in donations in about four hours, the campaign said. Of the $7,091,224.39 Buttigieg reported raising, he spent less than $700,000. That leaves him with more than $6.4 million in cash on hand, even before adding in the latest $1 million reported by his campaign on Sunday.


In the 24 hours after launching an exploratory committee in late January, for instance, Buttigieg raised about $120,000, according to spokeswoman Lis Smith. But after his campaign launch Sunday, Buttigieg collected seven figures in donations in about four hours, the campaign said. Of the $7,091,224.39 Buttigieg reported raising, he spent less than $700,000. That leaves him with more than $6.4 million in cash on hand, even before adding in the latest $1 million reported by his campaign on Sunday.
Pete Buttigieg raises $1 million within four hours of 2020 campaign announcement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kevin breuninger
Keywords: news, cnbc, companies, fundraising, president, exploratory, latest, campaign, pete, national, buttigieg, raises, million, 2020, reported, announcement, hours


Pete Buttigieg raises $1 million within four hours of 2020 campaign announcement

The GOP has been taken over by an economic populist, says Mayor Pete Buttigieg 11:13 AM ET Fri, 12 April 2019 | 03:31

Pete Buttigieg, the latest Democrat to launch a full-fledged 2020 presidential campaign, raised $1 million just hours after announcing his official bid, according to his spokeswoman.

The fundraising haul, shared Sunday by Buttigieg’s team after his announcement speech, provides the latest data point indicating the South Bend, Indiana, mayor’s growing profile on the national stage in the few months since entering the contest as a relative unknown.

In the 24 hours after launching an exploratory committee in late January, for instance, Buttigieg raised about $120,000, according to spokeswoman Lis Smith. But after his campaign launch Sunday, Buttigieg collected seven figures in donations in about four hours, the campaign said.

Buttigieg, the youngest of the 18-plus confirmed candidates to join the race against President Donald Trump, had already reported raising over $7 million in the first fundraising quarter during his “exploratory” campaign phase. That sum put the 37-year-old mayor ahead of a number of more nationally established candidates for the quarter.

Neither Buttigieg nor any other 2020 Democrat has come close to matching the Trump campaign’s first-quarter fundraising haul, however. The president’s reelection campaign announced Monday that it took in $30.3 million overall in the fundraising period, leaving it with $40.8 million in cash on hand.

Trump’s campaign and the Republican National Committee reported a combined $76.1 million to the FEC.

Buttigieg has used his campaign funds more sparingly, according to a recent filing from the Federal Election Commission. Of the $7,091,224.39 Buttigieg reported raising, he spent less than $700,000. That leaves him with more than $6.4 million in cash on hand, even before adding in the latest $1 million reported by his campaign on Sunday.

That’s an especially low “burn rate,” experts and media figures have claimed, and one that his spokeswoman chalks up to the self-described millennial mayor’s intent to run a “21st century campaign doing more with less.”

Buttigieg told CNBC in a February interview that “I understand this is an underdog project.” Yet the Rhodes Scholar and Afghanistan War veteran, who would be both the youngest and the first openly gay president in U.S. history if elected, has matched his fundraising gains with sizable jumps in polling since launching his exploratory committee.

A Emerson national poll of the 2020 contenders in mid-February, for instance, notched Buttigieg at 0% support, falling well below 12 other Democrats in the primary at the time.

But the latest national poll from Emerson released Monday morning saw Buttigieg rise to the No. 3 slot with 9%, beating 17 other Democrats and falling behind only former Vice President Joe Biden and Vermont Sen. Bernie Sanders — both of whom have been leading names in American politics for years.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kevin breuninger
Keywords: news, cnbc, companies, fundraising, president, exploratory, latest, campaign, pete, national, buttigieg, raises, million, 2020, reported, announcement, hours


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IMF raises its 2019 growth forecast for China

The International Monetary Fund upgraded its 2019 growth forecast for China, citing Beijing’s effort to support the economy and improved outlook for the Asian giant’s tariff fight with the U.S.IMF said in its latest World Economic Outlook report that China is projected to grow by 6.3 percent this year, higher than the fund’s previous forecast of 6.2 percent. The latest report, released Tuesday, is widely read globally for the IMF’s assessment of the world economy. China’s economy, the second-lar


The International Monetary Fund upgraded its 2019 growth forecast for China, citing Beijing’s effort to support the economy and improved outlook for the Asian giant’s tariff fight with the U.S.IMF said in its latest World Economic Outlook report that China is projected to grow by 6.3 percent this year, higher than the fund’s previous forecast of 6.2 percent. The latest report, released Tuesday, is widely read globally for the IMF’s assessment of the world economy. China’s economy, the second-lar
IMF raises its 2019 growth forecast for China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: yen nee lee
Keywords: news, cnbc, companies, raises, imf, china, world, usimf, report, economy, forecast, growth, widely, 2019, outlook, worst, latest


IMF raises its 2019 growth forecast for China

The International Monetary Fund upgraded its 2019 growth forecast for China, citing Beijing’s effort to support the economy and improved outlook for the Asian giant’s tariff fight with the U.S.

IMF said in its latest World Economic Outlook report that China is projected to grow by 6.3 percent this year, higher than the fund’s previous forecast of 6.2 percent. The latest report, released Tuesday, is widely read globally for the IMF’s assessment of the world economy.

China’s economy, the second-largest in the world, grew by 6.6. percent last year — its worst performance in 28 years.


Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: yen nee lee
Keywords: news, cnbc, companies, raises, imf, china, world, usimf, report, economy, forecast, growth, widely, 2019, outlook, worst, latest


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Deutsche Bank goes bearish on sterling and raises the odds of a no-deal Brexit

The German lender said Monday that it was now bearish on the pound as confusion over the U.K.’s withdrawal from Europe continued. The bank raised its estimate for the chances of a no-deal Brexit to 25 percent from 20 percent and is targeting an exchange rate of 90 pence per euro. U.K. lawmakers will carry out a series of indicative votes in Parliament Monday as they try to agree an alternative to Prime Minister Theresa May’s unpopular Brexit deal. In its note, Deutsche said new elections should


The German lender said Monday that it was now bearish on the pound as confusion over the U.K.’s withdrawal from Europe continued. The bank raised its estimate for the chances of a no-deal Brexit to 25 percent from 20 percent and is targeting an exchange rate of 90 pence per euro. U.K. lawmakers will carry out a series of indicative votes in Parliament Monday as they try to agree an alternative to Prime Minister Theresa May’s unpopular Brexit deal. In its note, Deutsche said new elections should
Deutsche Bank goes bearish on sterling and raises the odds of a no-deal Brexit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: david reid
Keywords: news, cnbc, companies, deutsche, note, brexit, odds, goes, sterling, chances, parliamentary, theresa, bank, union, raises, withdrawal, nodeal, mays, parliament, bearish


Deutsche Bank goes bearish on sterling and raises the odds of a no-deal Brexit

Sterling slips after UK Parliament rejects Brexit deal for third time 3:01 AM ET Mon, 1 April 2019 | 01:11

The chances of Britain crashing out of the European Union without a deal on April 12 have increased to one in four, according to Deutsche Bank.

The German lender said Monday that it was now bearish on the pound as confusion over the U.K.’s withdrawal from Europe continued.

The bank raised its estimate for the chances of a no-deal Brexit to 25 percent from 20 percent and is targeting an exchange rate of 90 pence per euro. On Monday, the euro was buying 85.61 pence.

U.K. lawmakers will carry out a series of indicative votes in Parliament Monday as they try to agree an alternative to Prime Minister Theresa May’s unpopular Brexit deal.

The most likely option to command a majority of support is a customs union tagged on to May’s deal.

Deutsche’s base case scenario, which holds a 30 percent probability is that any consensus agreed by Parliament will fail to be enacted by the government and a general election will be required.

In its note, Deutsche said new elections should not be viewed positively and not just because of the potential for a left-wing Labour government.

“More relevant, in our view is the fact that polling suggests the result could be similar to that in 2017, which has led to the current parliamentary deadlock,” said Deutsche Bank macro strategist, Oliver Harvey.

Harvey also reasoned that any longer extension request would commit the country to EU Parliamentary elections and force Britain to commit cash to the EU’s next budget.

The note puts the chances of Theresa Mays “withdrawal agreement” being passed by the April 12 deadline at 15 percent.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: david reid
Keywords: news, cnbc, companies, deutsche, note, brexit, odds, goes, sterling, chances, parliamentary, theresa, bank, union, raises, withdrawal, nodeal, mays, parliament, bearish


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Kirsten Gillibrand husband’s stake in medical company raises questions

Democratic presidential contender Sen. Kirsten Gillibrand’s husband has for more than a decade held a financial stake in an obscure medical device company, even as the New York lawmaker voted in favor of legislation that expedited the approval process for such devices. The couple, married nearly two decades ago, does not appear to have made any money from the stake in the company. Gillibrand was the first declared presidential candidate to release last year’s tax returns. “Senator Gillibrand was


Democratic presidential contender Sen. Kirsten Gillibrand’s husband has for more than a decade held a financial stake in an obscure medical device company, even as the New York lawmaker voted in favor of legislation that expedited the approval process for such devices. The couple, married nearly two decades ago, does not appear to have made any money from the stake in the company. Gillibrand was the first declared presidential candidate to release last year’s tax returns. “Senator Gillibrand was
Kirsten Gillibrand husband’s stake in medical company raises questions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: tucker higgins, kena betancur, getty images
Keywords: news, cnbc, companies, investment, windcrest, tax, husbands, raises, whittaker, returns, questions, medical, gillibrand, device, stake, company, kirsten, senator


Kirsten Gillibrand husband's stake in medical company raises questions

Democratic presidential contender Sen. Kirsten Gillibrand’s husband has for more than a decade held a financial stake in an obscure medical device company, even as the New York lawmaker voted in favor of legislation that expedited the approval process for such devices.

Gillibrand’s husband Jonathan is an investor in WindCrest LLC, which in 2012 filed patent applications for its flagship invention, a tiny device designed to help guide wires in delicate surgeries. The company’s business partners were still seeking to commercialize it as recently as this week, they told CNBC.

The couple, married nearly two decades ago, does not appear to have made any money from the stake in the company. Gillibrand has said in financial disclosures that the investment is worth less than $50,000. She has disclosed the stake every year she has been in office.

But what those disclosures don’t reveal is that the money-losing venture could one day turn a profit, thanks to its invention. That payday, however, will require securing a deal with a device manufacturer, according to the Cleveland Clinic, which partnered with WindCrest on the invention.

The investment, though legal, raises questions about whether Gillibrand will profit from an industry she has played a role in regulating as a senator, and which she could influence as president.

And Gillibrand’s reluctance to discuss it could weaken one of her chief arguments against President Donald Trump, whose opaque business dealings have earned scrutiny from Democrats and good government groups, and who has declined to release his tax returns.

Gillibrand has made financial transparency a key element of her campaign, and just this week made a splash by releasing her 2018 tax returns and calling on her 2020 rivals to do the same.

While Gillibrand’s husband’s stake in the WindCrest is mentioned in their joint tax filing released Wednesday, the senator does not appear to have publicly discussed the nature of its work. Gillibrand was the first declared presidential candidate to release last year’s tax returns. When she did so, she urged her fellow Democratic contenders to do the same in the interest of transparency.

The senator’s campaign declined to comment on the record for this story. An aide told CNBC that the investment was made by Jonathan Gillibrand in 2005, that the couple has not made a profit on it, and that Jonathan has only ever had a “small minority share in the company.”

“To Jonathan’s understanding, the investment is of little to no value,” the aide said. “Senator Gillibrand was proud to release her tax returns first, and believes that radical transparency is important as an elected official.”

Little has been reported about WindCrest, which claims to work “to advance the medical device industry and the care of patients” on its website. An email sent to the company bounced back, and a phone call went straight to the voicemail inbox of a separate company called Whittaker Solutions.

Allison Marshall Whittaker, listed as the owner of Whittaker Solutions and a member of WindCrest LLC on her LinkedIn page, declined to comment.

Whittaker provides “design, business, medical & equine info,” according to its Delaware corporate charter, as well as “strategic analysis consulting services to businesses and individuals.”


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: tucker higgins, kena betancur, getty images
Keywords: news, cnbc, companies, investment, windcrest, tax, husbands, raises, whittaker, returns, questions, medical, gillibrand, device, stake, company, kirsten, senator


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Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019

The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows. Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook


The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows. Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook
Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: yun li
Keywords: news, cnbc, companies, lower, estimates, gain, economic, raises, stocks, suisse, fears, 20, forecast, credit, recession, 2019, 500, market, sp, sees


Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019

Why Credit Suisse is positive on government bonds 12:45 AM ET Fri, 15 March 2019 | 02:19

That is because all the market risks that tanked stocks in December are now “receding,” according to Credit Suisse’s chief U.S. equity strategist, Jonathan Golub.

“Investors might be pleased with the market’s recent performance, but it’s unlikely they find the underlying dynamics—a more favorable risk backdrop, with decelerating economic and earnings growth—particularly inspiring,” Golub said.

“More specifically, less hawkish comments from the Fed, declining inflation and recession fears, and the potential for a resolution to China trade issues are the primary forces driving volatility and spreads lower, and stocks higher,” he added.

The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. Now with the central bank signaling a “patient” approach to tightening and better-than-expected economic data, the rally may have more room to run.

The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows.

Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook. The firm says the reduced estimates are due to lower oil prices and large tech companies’ worsening outlooks.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: yun li
Keywords: news, cnbc, companies, lower, estimates, gain, economic, raises, stocks, suisse, fears, 20, forecast, credit, recession, 2019, 500, market, sp, sees


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Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend

“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital


“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital
Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


Generali beats 2018 targets despite 'challenging' Italian market, raises dividend

Europe’s third-largest insurer said it would pay a dividend of 0.90 euros per share, up from the previous year’s 0.85 euros.

When it came to a potential European slowdown in 2019, however, Donnet said Generali was not concerned. He explained that people sought out the solutions Generali provided whether the economy was booming or lagging.

“Our business is very resilient, because when people do invest and the economy is growing, the property and casualty business is growing,” he said. “But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.”

However he noted heavy competition in its domestic market, especially with motor insurance, adding that it was “challenging.”

“In Italy and France, by the way, we had to face very important claims … which obviously had a significant impact on the operating result,” he added.

Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors.

“(Investors) do not struggle any more on this — we have demonstrated that we have a strong capital position. We have further increased our solvency ratio by 9 percentage points, so our exposure to BTPs is no longer an issue,” he told CNBC.

Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia.

Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. The headline has also been changed on this story to more accurately reflect Generali’s earnings release.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


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Boeing’s top-selling plane raises safety concerns after second deadly crash in 5 months

Boeing’s fastest-ever selling aircraft is sparking safety concerns after an Ethiopian Airlines 737 MAX jet crashed shortly after takeoff on Sunday, killing everyone on board. It is the second deadly crash for the plane in less than five months. Cayman Airways grounded its two Boeing 737 MAX planes until more information about the crash emerges. Flight-tracking site Flightradar24, said that data “show that vertical speed was unstable after take off” on the Ethiopian Airlines plane, a sign it stru


Boeing’s fastest-ever selling aircraft is sparking safety concerns after an Ethiopian Airlines 737 MAX jet crashed shortly after takeoff on Sunday, killing everyone on board. It is the second deadly crash for the plane in less than five months. Cayman Airways grounded its two Boeing 737 MAX planes until more information about the crash emerges. Flight-tracking site Flightradar24, said that data “show that vertical speed was unstable after take off” on the Ethiopian Airlines plane, a sign it stru
Boeing’s top-selling plane raises safety concerns after second deadly crash in 5 months Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-10  Authors: leslie josephs, michael tewelde, afp, getty images
Keywords: news, cnbc, companies, boeings, planes, safety, boeing, topselling, ethiopian, takeoff, killing, months, crash, concerns, airlines, 737, max, deadly, raises, plane, second


Boeing's top-selling plane raises safety concerns after second deadly crash in 5 months

Boeing’s fastest-ever selling aircraft is sparking safety concerns after an Ethiopian Airlines 737 MAX jet crashed shortly after takeoff on Sunday, killing everyone on board. It is the second deadly crash for the plane in less than five months.

Ethiopian Airlines Flight 302 crashed in a rural area southeast of Addis Ababa, killing all 149 passengers and eight crew members on board. The aircraft left the Ethiopian capital at 8:38 a.m. local time in clear weather and lost contact six minutes later, the airline said. Victims included citizens of over a dozen countries, including Kenya, Canada, the United States, Great Britain, China and Italy.

The flight was operated on a new Boeing 737 MAX 8, the same type that went down in the Java Sea, just after takeoff from Jakarta, Indonesia, in October, killing all 189 aboard.

What brought down the four-month-old Ethiopian Airlines plane is not clear, but it is uncommon to have two fatal crashes of new planes so close together, industry experts said.

“It’s almost unheard of,” said John Cox, a senior crash investigator and former airline pilot. Cox and others warned that it is early in the crash investigation and there is no indication yet whether the two crashes were caused by the same factors.

Chinese aviation officials told domestic airlines to temporarily ground theirBoeing 737 MAX 8 jets following the crash and of Monday morning, many had complied, according to flight trackers. China’s Civil Aviation Authority said in a statement that it will contact Boeing and the Federal Aviation Administration and let airlines know when to resume flights after it makes sure the planes can fly safely.

Cayman Airways grounded its two Boeing 737 MAX planes until more information about the crash emerges. Its CEO Fabian Whorms said that the airline stands by “our commitment to putting the safety of our passengers and crew first by maintaining complete and undoubtable safe operations.”

While both the Ethiopian and Lion Air planes had crashed minutes after takeoff, Lion Air had reported problems aboard its plane leading up to the crash, which did not appear to be the case in the Ethiopian crash, Cox noted. Flight-tracking site Flightradar24, said that data “show that vertical speed was unstable after take off” on the Ethiopian Airlines plane, a sign it struggled to gain altitude.

The Boeing 737 MAX has been flying for less than two years and is a best-seller for the Chicago-based aircraft manufacturer. Boeing has delivered 350 MAX jets to airlines around the world since May 2017 and had more than 4,660 in its order book as of January, according to the company.

The Ethiopian crash raises questions about the top-selling plane made by Boeing, whose commercial airplane business generated nearly 60 percent of the company’s record $101.1 billion in revenue last year, as airlines around the world race to bolster their fleets to cater to growing demand. The manufacturer’s stock is up 31 percent this year, making it the top gainer in the Dow Jones Industrial Average.


Company: cnbc, Activity: cnbc, Date: 2019-03-10  Authors: leslie josephs, michael tewelde, afp, getty images
Keywords: news, cnbc, companies, boeings, planes, safety, boeing, topselling, ethiopian, takeoff, killing, months, crash, concerns, airlines, 737, max, deadly, raises, plane, second


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Reviews site Trustpilot raises $55 million Series E funding round

Reviews website Trustpilot said Tuesday that it has raised $55 million in a funding round aimed at fueling growth. Trustpilot didn’t disclose its valuation, but the latest cash injection lifts the company’s total funding — bar its initial seed round — to $173 million. Copenhagen, Denmark-headquartered Trustpilot lets people post reviews of their experiences with a range of services from pet sitters to utility providers. A Sky News report last year said Trustpilot’s latest funding exercise would


Reviews website Trustpilot said Tuesday that it has raised $55 million in a funding round aimed at fueling growth. Trustpilot didn’t disclose its valuation, but the latest cash injection lifts the company’s total funding — bar its initial seed round — to $173 million. Copenhagen, Denmark-headquartered Trustpilot lets people post reviews of their experiences with a range of services from pet sitters to utility providers. A Sky News report last year said Trustpilot’s latest funding exercise would
Reviews site Trustpilot raises $55 million Series E funding round Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: ryan browne
Keywords: news, cnbc, companies, series, round, ipo, plans, public, million, trustpilot, latest, reviews, raises, firm, site, funding, 55


Reviews site Trustpilot raises $55 million Series E funding round

Reviews website Trustpilot said Tuesday that it has raised $55 million in a funding round aimed at fueling growth.

The investment was led by Sunley House, a subsidiary of buyout-focused private equity firm Advent International. Existing shareholders Vitruvian Partners, Draper Esprit, Index Ventures and Northzone also contributed.

Trustpilot didn’t disclose its valuation, but the latest cash injection lifts the company’s total funding — bar its initial seed round — to $173 million. The firm hired Morgan Stanley as an advisor to the deal.

Copenhagen, Denmark-headquartered Trustpilot lets people post reviews of their experiences with a range of services from pet sitters to utility providers. It makes revenue from selling software-as-a-service to companies that pay to display their review scores online and gain insights from the ratings data.

A European rival to well-known U.S.-listed firms like Yelp and Tripadvisor, Trustpilot has been the subject of much speculation in recent months over whether it will seek an initial public offering. A Sky News report last year said Trustpilot’s latest funding exercise would be treated as a precursor to a stock market listing.

An IPO would mean Trustpilot joining the ranks of Europe’s newly listed tech companies. Last year saw the likes of music streaming service Spotify, financial technology firm Adyen and cybersecurity group Avast list their shares on the public markets.

But Trustpilot said there are no plans at this stage of a flotation, although the firm believes it could be an attractive IPO candidate in the future.

The investment “gives the company flexibility for the future,” Trustpilot Chief Financial Officer Hanno Damm told CNBC ahead of the announcement. “There are no plans to exit via an IPO or via other means at this time.”


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: ryan browne
Keywords: news, cnbc, companies, series, round, ipo, plans, public, million, trustpilot, latest, reviews, raises, firm, site, funding, 55


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Reviews site Trustpilot raises $55 million Series E funding round

Reviews website Trustpilot said Tuesday that it has raised $55 million in a funding round aimed at fueling growth. Trustpilot didn’t disclose its valuation, but the latest cash injection lifts the company’s total funding — bar its initial seed round — to $173 million. Copenhagen, Denmark-headquartered Trustpilot lets people post reviews of their experiences with a range of services from pet sitters to utility providers. A Sky News report last year said Trustpilot’s latest funding exercise would


Reviews website Trustpilot said Tuesday that it has raised $55 million in a funding round aimed at fueling growth. Trustpilot didn’t disclose its valuation, but the latest cash injection lifts the company’s total funding — bar its initial seed round — to $173 million. Copenhagen, Denmark-headquartered Trustpilot lets people post reviews of their experiences with a range of services from pet sitters to utility providers. A Sky News report last year said Trustpilot’s latest funding exercise would
Reviews site Trustpilot raises $55 million Series E funding round Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: ryan browne
Keywords: news, cnbc, companies, 55, ipo, round, reviews, plans, site, series, firm, million, public, trustpilot, funding, raises, latest


Reviews site Trustpilot raises $55 million Series E funding round

Reviews website Trustpilot said Tuesday that it has raised $55 million in a funding round aimed at fueling growth.

The investment was led by Sunley House, a subsidiary of buyout-focused private equity firm Advent International. Existing shareholders Vitruvian Partners, Draper Esprit, Index Ventures and Northzone also contributed.

Trustpilot didn’t disclose its valuation, but the latest cash injection lifts the company’s total funding — bar its initial seed round — to $173 million. The firm hired Morgan Stanley as an advisor to the deal.

Copenhagen, Denmark-headquartered Trustpilot lets people post reviews of their experiences with a range of services from pet sitters to utility providers. It makes revenue from selling software-as-a-service to companies that pay to display their review scores online and gain insights from the ratings data.

A European rival to well-known U.S.-listed firms like Yelp and TripAdvisor, Trustpilot has been the subject of much speculation in recent months over whether it will seek an initial public offering. A Sky News report last year said Trustpilot’s latest funding exercise would be treated as a precursor to a stock market listing.

An IPO would mean Trustpilot joining the ranks of Europe’s newly listed tech companies. Last year saw the likes of music streaming service Spotify, financial technology firm Adyen and cybersecurity group Avast list their shares on the public markets.

But Trustpilot said there are no plans at this stage of a flotation, although the firm believes it could be an attractive IPO candidate in the future.

The investment “gives the company flexibility for the future,” Trustpilot Chief Financial Officer Hanno Damm told CNBC ahead of the announcement. “There are no plans to exit via an IPO or via other means at this time.”


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: ryan browne
Keywords: news, cnbc, companies, 55, ipo, round, reviews, plans, site, series, firm, million, public, trustpilot, funding, raises, latest


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DoorDash raises $400 million at $7.1 billion valuation

Food delivery start-up DoorDash has nearly doubled the company’s valuation in six months amid impending IPOs by competitors like Postmates and Uber. The company announced Thursday it raised $400 million at a $7.1 billion valuation, co-led by Singapore state investment firm Temasek Holdings and Dragoneer Investment Group. The company said its last fund-raising round in August 2018 valued the company at $4 billion. However, while GrubHub still dominates the market, its market share is declining wh


Food delivery start-up DoorDash has nearly doubled the company’s valuation in six months amid impending IPOs by competitors like Postmates and Uber. The company announced Thursday it raised $400 million at a $7.1 billion valuation, co-led by Singapore state investment firm Temasek Holdings and Dragoneer Investment Group. The company said its last fund-raising round in August 2018 valued the company at $4 billion. However, while GrubHub still dominates the market, its market share is declining wh
DoorDash raises $400 million at $7.1 billion valuation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: aditi roy
Keywords: news, cnbc, companies, delivery, round, companys, 400, 71, postmates, company, xu, doordash, million, restaurants, valuation, plans, share, raises, billion


DoorDash raises $400 million at $7.1 billion valuation

Food delivery start-up DoorDash has nearly doubled the company’s valuation in six months amid impending IPOs by competitors like Postmates and Uber.

The company announced Thursday it raised $400 million at a $7.1 billion valuation, co-led by Singapore state investment firm Temasek Holdings and Dragoneer Investment Group. The company’s existing investors, including the Softbank Vision Fund, DST Global and Sequoia Capital, also participated in the round. The company said its last fund-raising round in August 2018 valued the company at $4 billion.

The funding news coincides with the impending IPOs of competitors Uber and Postmates, both of which have registered with the Securities and Exchange Commission to go public.

DoorDash CEO Tony Xu said in an interview with CNBC the expected IPOs didn’t inform the company’s funding plans, “because the plans were to double down each of the areas in terms of how we got here. And betting on what’s been working.”

Those areas in which the company plans to invest the new funds include geographic expansion, signing up more restaurants, increasing its merchant services and investing in its DoorDash Drive product, which allows restaurants to use DoorDash couriers.

DoorDash currently services 3,300 U.S. cities, but Xu said he wants the company to delivery to every zip code in the U.S. and grow its footprint in Canada. Besides UberEats and Postmates, DoorDash’s most formidable competitor by market share is GrubHub, which had 43 percent share of monthly sales in January 2019, followed by DoorDash at 31 percent, and UberEats, which had 26 percent, according to Second Measure. However, while GrubHub still dominates the market, its market share is declining while DoorDash says its share has been steadily rising. Since its last funding round in August, 2018, DoorDash says its sales have grown 250 percent, and 325 percent year-to-date. Although the company would not give specific revenue figures.

The food-delivery company has also expanded to grocery delivery, partnering with Walmart last year. In doing so, Xu said his vision of competition has changed.

“Doordash is at the cusp of this evolution moving from the national players and restaurant delivery you know: Grubhub, Uber Eats and DoorDash.” Xu said. “I think when you start moving beyond restaurants and think about the logistics, there’s a much broader group out there whether it’s the Amazons or other folks.”

Xu also said the company’s focus on growth means it will take longer to become profitable.

“Right now we’re choosing to invest in growth and delay profitability for the entire company,” Xu said. “But we have the means in which to do that and we know how to get there. But right now we want to accelerate to the number-one position sooner. And we want to serve merchants beyond restaurants earlier, and that’s what we’re focused on right now.”

Correction: An earlier version of this article misstated the number of cities DoorDash serves. It is 3,300.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: aditi roy
Keywords: news, cnbc, companies, delivery, round, companys, 400, 71, postmates, company, xu, doordash, million, restaurants, valuation, plans, share, raises, billion


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