Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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PayPal reportedly looking to buy Pinterest
Payments company PayPal is looking to acquire Pinterest, Bloomberg reported on Wednesday. PayPal could acquire Pinterest, which went public in 2019, for $70 per share, which would value Pinterest at around $39 billion, per Bloomberg. While Pinterest is a social media and image-sharing company, it does have an e-commerce feature as well, allowing users to shop through the site.
–Sophia Kunthara
Invicti Security lands $625M investment
Austin, Texas-based Invicti Security raised a $625 million growth round led by Summit Partners. Invicti provides web application security and was the result of the merger of Netsparker and Acunetix in 2017. In a release, the company said it expects to see 61 percent ARR growth this year compared with 2020.
— Chris Metinko
Flock Freight raises $215M
Encinitas, California-based Flock Freight, a provider of a service to ship freight in shared truckloads, raised $215 million in a new round led by SoftBank Vision Fund 2, according to a report in The Wall Street Journal.
Founded in 2015, Flock Freight previously raised at least $184 million in known funding, per Crunchbase data. The company will reportedly use the latest funding to invest in its shipment-pooling algorithm and machine-learning technology to raise the number of shipments it can process, as well as hire hundreds of new employees.
— Joanna Glasner
Acquisitions
Stripe acquires Recko: Stripe disclosed that it is acquiring Recko, a Bangalore-based financial operations platform for enterprises, for an undisclosed sum. Founded in 2017, Recko previously raised at least $7 million in known funding, per Crunchbase data.
— Joanna Glasner
Fintech
Hash raises $40M Series C: Brazilian payments platform Hash raised $40 million in a Series C funding round led by QED Investors and Kaszek. Previously, the 4-year-old, São Paulo-based company had raised around $19 million in venture funding, per Crunchbase data.
— Joanna Glasner
Illustration: Dom Guzman
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