Briefing

The Briefing: NerdWallet Files For IPO, Bitkraft Raises Blockchain Game Fund, And More

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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NerdWallet files for IPO

San Francisco-based NerdWallet filed its S-1 with the SEC today for an IPO that is set to raise up to $100 million. The company, founded in 2009, helps consumers find the right credit card as well as products to refinance mortgages and student loans. The company reached an average of 21 million unique users per month in 2021 according to its filing. 

NerdWallet notes in its risk factors the dual class structure of its stock with “the effect of concentrating voting control with our Co-founder and CEO, Tim Chen.” Institutional investors Innovius Capital, IVP, RRE Ventures and iGlobe Partners all own more than 5 percent of the company’s class A common stock per the filing. 

— Gené Teare

Bitkraft reportedly raises $75M token fund for blockchain games

Bitkraft Ventures, an investor in gaming and esports startups,  reportedly launched a $75 million token fund for blockchain gaming and digital entertainment deals.

Founded in 2016, the firm focuses on Seed and Series A and B investments in gaming content and IP interactive platforms, with a particular interest in synthetic reality. The firm was founded by gaming serial entrepreneur Jens Hilgers.

— Joanna Glasner

Truecaller rises in market debut

Stockholm-based Truecaller, provider of a caller ID and spam-blocking app, saw shares rise in first-day trading on Nasdaq Stockholm. The offering reportedly set an initial public valuation of around $2.5 billion for the 12-year-old company.

— Joanna Glasner

Tesla announces plans to move HQ from California to Austin

Tesla CEO Elon Musk said at a shareholders meeting Thursday that the company plans to move its headquarters from Palo Alto to Austin, Texas. The company still intends to ramp up production at its California plant, despite the official move to Texas, where Tesla has a vehicle assembly plant under construction near Austin, CNBC reported. Musk expressed his frustrations with doing business in California in the past, particularly amid the COVID-19 restrictions last year. He also lives in Austin, moving from Los Angeles in 2020, according to CNBC. Tesla joins large tech companies including Oracle and Hewlett Packard in moving their headquarters from California to Texas’ capital.

–Sophia Kunthara

Proptech

LandTech picks up $57M: U.K.-based LandTech, a provider of tools for property developers to find and plan projects, reportedly raised £42 million ($57 million) in a funding round led by Updata Partners.

— Joanna Glasner

Illustration: Dom Guzman

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