E123: Revolut seeks $33b valuation, +53% vs secondary mrkt levels; Scale AI new $13.8b valuation, +97% from last round; Anduril new $12.5b valuation, -5.3% vs secondary mrkt levels; Groq new $3b valuation, -32% vs secondary mrkt levels

00:08 | Revolut new round
- UK online bank
- Launching new payment terminal in 2H 2024, expanding Europe availability for product
- Raising $500m tender at $33b valuation
- 40m customers, +144% from 2021
- $2.2b 2023 revenue, +100% vs 2022
- $21.6b secondary market valuation, - 35% from Jul 2021 round
- 9.8x revenue multiple at $21.6b secondary valuation
- 15x revenue multiple at target $33b valuation
- +53% return for secondary investors if $33b valuation plays out

02:06 | CoreWeave new debt financing
- AI-focused cloud provider
- $7.5b private debt financing
- Blackstone led; Carlyle Group, BlackRock participated
- $19b valuation from $1.1 equity round this month
- 14 to 28 data centers by Dec 2024

02:48 | Blue Origin resumes launches
- Bezos owned, space rocket company
- NS-25 mission successful
- Resumed crewed flights after 2yrs, 21 corrective actions
- 25th mission, 7th with humans … 37 total people to space

03:35 | Scale AI new round
- Data-labeling service provider for machine learning model training
- Raised $1b
- $13.8b valuation, +97% from 2021 round
- Accel led; Cisco, Intel, AMD, Nvidia, Tiger Global participated
- Clients; Microsoft, Toyota, GM, Meta, US DoD, OpenAI
- $7.4b secondary market valuation as of last week, some investors got a +86% pop

04:30 | Anthropic hires new CFO
- AI large language model company
- Hires Krishna Rao as CFO, formerly of Fanatics and Airbnb
- $18.1b secondary market valuation, +0.6% vs last round (Jan 2024)

05:17 | Anduril new round
- Military defense tech company
- Raising $1.5b
- Targeting $12.5b+ valuation, +25% from Dec 2023 round
- $500m in 2023 revenue, +100% vs 2022
- $670m in govt contracts, +50% vs 2022
- $12.5b primary round is -5.3% from current secondary market valuation levels, $13.2b

06:06 | DeepL new round

06:45 | OpenAI deals with News Corp, BBVA
- News Corp data deal; OpenAI to train on WSJ, MarketWatch, Barrons, NY Post data
- BBVA to use ChatGPT Enterprise solutions; 3,000 licenses to enhance productivity, innovation in business decisions and customer service
- BBVA is first European bank to partner with OpenAI
- $97b secondary market valuation, +12.8% from Apr 2024 round

08:06 | Humane looking for buyer
- AI personal device startup
- Seeking buyer at $750m to $1b
- Last round at $850m, 2023

08:34 | Groq new round
- AI chip startup
- $300m raise, MStanley as banker
- $3b valuation, +161% from Feb 2024 round
- Groq’s language processing units, LPUs, designed to generate LLM results faster with lower electricity use
- Monetization starts in Jun 2024
- $3b primary round is -32% from current secondary market valuation, $4.4b

09:30 | Pre-IPO +0.10% for week, +39.95% for last 1yr
- Up week: Cohere +7.5%, Klarna +3.8%, Wiz +2.1%, Anduril +1.6%, Revolut +1.5%
- Down week: Groq -10.3%, SpaceX -2.8%, Anthropic -0.9%, Airtable -0.4%, Neuralink -0.4%
- Top valuations: ByteDance $294b, SpaceX $186b, OpenAI $97b, Stripe $75b, Databricks $43b

10:12 | +0.42% 2024 Pre-IPO Stock Vintage Index
- www.agdillon.com/index for fact sheet pdf
- 2024 Vintage Index top contributors since inception: Epic Games +172%, Rippling +100%, Revolut +44%, Klarna +41%, Anduril +27%
- Looking at all 20 vintages … here are the contributors and detractors for the week; winners = Klarna +3.8%, Anduril +1.6%, Revolut +1.5% and losers = SpaceX -2.8%, Anthropic -0.9%, Chime -0.3%
- Key metric averages for all Vintage Indexes 5 years old or older…
…3.31 distributed paid in capital (DPI)
…2.01 residual value to paid in capital (RVPI)
…5.32 total value to paid in capital (TVPI)
…4.1 years to “return the fund”