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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Grab making Nasdaq debut after SPAC merger
Singapore-based Grab, the “superapp” popular in South Asia for ride-hailing, deliveries and commerce, made its debut on the Nasdaq after completing a merger with a blank-check acquirer.
Grab is merging with Altimeter Growth Corp., a special-purpose acquisition company, in a deal it describes as the largest-ever U.S. public market debut by a Southeast Asia company. The company, which will reportedly have an initial valuation of around $40 billion, trades under the ticker symbol GRAB.
— Joanna Glasner
Smartling closes $160M growth round
New York-based language translation company Smartling raised a $160 million growth investment from Battery Ventures. The company works with professional translators to ensure translated content from its customers is accurate and localized for relevant markets, making sure the intended meaning comes across.
Founded in 2009, the company has now raised more than $220 million to date, according to Crunchbase data.
— Chris Metinko
Panther Labs picks up $120M
San Francisco-based Panther Labs, a cloud-scale security analytics platform, announced $120 million in Series B funding led by Coatue. The financing sets a $1.4 billion valuation for the 3-year-old company.
— Joanna Glasner
Public offerings
Rumble going public in $2.1B SPAC deal: Toronto-based Rumble, a video platform popular with right-wing audiences, announced plans to go public through a merger with a SPAC, Cantor Fitzgerald’s CF Acquisition Corp. VI. The deal sets an enterprise value for the company of around $2.1 billion.
— Joanna Glasner
Illustration: Dom Guzman
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