Revolut targets $10bn valuation in upcoming funding round April 17, 2021 Revolut is eyeing a new fundraising round which would see the challenger bank’s valuation soar to more than $10bn. Last summer the neobank raised a further $80m to close out its series D funding round from private equity firm TSG, valuing the company at $5.5bn. Now Revolut has enlisted the help of US-based investment bank [...]
Elon Musk’s SpaceX wins NASA contract to send humans to the Moon April 17, 2021 NASA has chosen Elon Musk’s SpaceX to build a lander that will send humans to the Moon in the next decade. On Friday the space agency announced Musk had fought off rival tech billionaire Jeff Bezos’ to land the $2.89bn contract. The lander is based on SpaceX’s Starship craft, which is being tested at a [...]
UK fintech investment off to flying start after series of mega deals April 16, 2021 After a gruelling year the UK’s fintech industry is back with a bang, attracting nearly $3bn across more than 100 deals in the first quarter alone. The fintech sector raised a total of $2.9bn in the first three months of the year across 117 deals, with investment levels 153 per cent higher compared to the [...]
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Facebook splashes out $23m on Mark Zuckerberg’s security April 14, 2021 Facebook forked out more than $23m (£16.6m) on security for its chief executive Mark Zuckerberg last year. In a filing published this week the tech giant said it handed the boss $23.4m in compensation in 2020 to cover personal security at his homes and during personal travel. Of this, $13.4m represented a security allowance while [...]
UK must make tech firms pay for news, says competition watchdog April 13, 2021 The UK must introduce a new code to ensure news publishers are fairly compensated for the use of their stories on tech platforms, the competition watchdog has said. Daniel Gordon, senior director of markets at the Competition and Markets Authority (CMA), said his organisation agreed with the principles behind a new Australian law requiring tech [...]
London investor Tej Kohli on chasing the ‘second wave’ of CRISPR-Cas9 April 13, 2021 | City Talk “The only thing worse than losing money on an investment is having to watch the value of something that you didn’t back grow beyond all expectations” says London-based technologist and investor Tej Kohli. Kohli is talking into a laptop with the team of experts that he has assembled to spearhead a new initiative for his [...]
China issues warning to tech firms after record Alibaba fine April 13, 2021 Chinese authorities have issued a stark ultimatum to more than three dozen tech companies, warning them to stop engaging in any practices that fall foul of new regulations. The country’s market regulator, which last week slapped Alibaba with a $2.8bn fine, said it summoned 34 companies including Tencent, JD.com and Tiktok owner Bytedance. The State [...]
Grab finalises $40bn US listing through largest ever Spac deal April 13, 2021 Ride hailing and food delivery firm Grab today finalised a merger with Altimeter Growth to go public in the US at a valuation of just under $40bn (£29bn). The tie-up represents the largest ever Spac (special purpose acquisition company) deal ever made amid a frenzy of blank cheque deals on Wall Street. The Singapore-based startup, [...]
