Briefing Venture

The Briefing: Wish Falls In First Day Trading, Sneaker Market StockX Raises $275M, And More

The Briefing

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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Wish shares fall in first-day trading

Shares of discount e-commerce retailer Wish fell in first-day trading Wednesday, after the company priced its initial public offering at the high end of expectations.

The stock dipped to around $20 a share in midday trading, below its IPO price of $24 per share. The offering raised $1.1 billion for San Francisco-based Wish, whose parent company, ContextLogic, filed to go public on Nasdaq under the ticker symbol WISH last month.

Shares closed at $20.05, down 16.5 percent from the initial IPO price.

Sneaker market StockX raises $275M

Online retailer StockX raised $275 million in a Series E funding round led by Tiger Global that sets a $2.8 billion post-money valuation for the company.

Founded in 2015, Detroit-based StockX is best known as an online marketplace for high-demand and limited-edition sneakers. However, it does also sell collectibles and brand-name handbags and watches.

The latest fundraise brings StockX’s total funding to date to around $435 million, per Crunchbase data.

Funding rounds

  • Bolt lands $182M for on-demand transport: Bolt, an Estonian startup offering a transportation network to move food and people on cars, scooters and bikes, raised $182 million in a new funding round led by D1 Capital Partners.
  • Neo Financial banks CAD$50M to challenge incumbents: Calgary-based Neo Financial completed a CAD$25 million ($19.6 million) Series A round and CAD$25 million in debt facility financing. The technology company provides spending, savings and rewards programs. Valar Ventures led the funding round.
  • Curai Health secures $27.5M for telehealth: Curai Health, a Palo Alto-based virtual care company, announced $27.5 million in Series B funding led by Morningside Ventures. Curai, which has now raised $57 million in total, uses artificial intelligence to provide chat-based primary care at a lower cost.
  • PlainID raises $11 million for authorization tech: Tel Aviv-based cybersecurity startup PlainID said it raised $11 million in new funding led by a consortium of existing and new investors. Those investors include Viola Ventures, INcapital Ventures, Capri Ventures, iAngels, Springtide Ventures and Vintage Investment Partners. PlainID offers a suite of authorization tools for enterprises to limit and establish who can access their platforms and products.
  • DASH Systems brings in $8M for airdrop deliveries: DASH Systems, a Los Angeles-based technology company developing hardware and software to enable precision airdrop deliveries, announced $8 million in seed funding led by 8VC1.
  • Vouched raises $3M for real-time fraud detection: Vouched, a Seattle-based startup working on artificial intelligence and computer vision technology for end-to-end identity verification and real-time fraud detection, recently raised $3 million in a round led by Flying Fish Partners.
  • FoodMarble bags $2.6M for digestive health: FoodMarble, a Dublin-based digital digestive health company, closed a seed investment round of $2.6 million led by Business Venture Partners. The funding will support, among other things, the development of FoodMarble AIRE, touted as “the world’s first personal digestive tracker.”
  • Ōmcare secures $2.5M for aging in place tools: Ōmcare, a Minnesota-based digital health company, announced a $2.5 million investment along with future follow-on investments for its Ōmcare Home Health Hub commercialization. The funding round was led by Connect the Grey Investment Management.
  • Lantern raises $2.3M for end of life planning: Lantern, a New York-based public benefit corporation, raised a $2.3 million seed round led by Draper Associates. The company provides a single source of guidance for navigating life before and after a death.

M&A

  • Film production and distribution company Invincible Entertainment Partners said this week that it has acquired Business Rockstars, a video platform for entrepreneurs, for $20 million in stock. Invincible said the acquisition adds another 24/7 streaming channel with targeted content to its lineup. Business Rockstars had raised $2 million in funding, according to Crunchbase data. As part of the deal, Business Rockstars’ principal partners, Steve Lehman and Thom Beers, will join the Invincible board and executive committee.

Illustration: Dom Guzman


  1. 8VC is an investor in Crunchbase. It has no say in our editorial process. For more, head here.

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