Applied Intuition Secures $250 Million Series E Funding Round, Valued at $6 Billion
Applied Intuition, a leading autonomous vehicle software developer, has secured a $250 million Series E funding round, leading to a valuation of $6 billion. The funding was led by Lux Capital, Elad Gil, and strategic investor Porsche Investments Management. Despite a decline in venture funding for autonomous vehicle-related startups in recent years, Applied Intuition’s Series E funding marks a significant increase in the company’s value, as the autonomous driving sector saw a decrease in funding. Established in 2017, Applied Intuition has now raised over $600 million.
Reddit Files for IPO on New York Stock Exchange
Reddit, the popular online forum, has officially filed for an IPO on the New York Stock Exchange, allowing some loyal users the opportunity to purchase shares before they are publicly traded. Founded in a UVA dorm around 20 years ago, Reddit has grown to become one of the most visited websites globally, with its roots tracing back to the University of Virginia. Co-founders Steve Huffman and Alexis Ohanian met as freshmen at UVA and later pitched the concept at the Y Combinator startup incubator. After being sold to Condé Nast for $10 million, Reddit is now led by CEO Steve Huffman in San Francisco, while co-founder Alexis Ohanian resides near Miami with his family.
Hedge Fund Manager Dan Niles Picks Nvidia, Meta, Microsoft, and Amazon as Top Stock Picks for 2024
Hedge fund manager Dan Niles predicts Nvidia, Meta, Microsoft, and Amazon as top stock picks for 2024, citing their earnings potential and analyst forecast increases. Niles believes the rise of these stocks is not a bubble and points to Meta’s investment in Nvidia’s AI chips as a key factor. Nvidia’s stock popularity among retail investors has also surged, surpassing Tesla’s.
Reddit Inc. Considering $5 Billion Valuation for IPO
Reddit Inc. is considering a valuation of at least $5 billion for its initial public offering, according to sources familiar with the matter. The San Francisco-based social media company and its advisers are aiming for a mid-single-digit billion valuation, which…
Understanding Market Valuation Indicators
Market Valuation: Is the Market Still Overvalued? Market valuation is a critical aspect of understanding the current state of the economy and investment opportunities. Here is a summary of the four market valuation indicators that are updated monthly to provide…