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.
Amazon, Snap shares rocket on earnings
Shares of Amazon surged after earnings for the fourth quarter beat estimates, propelled by growing revenue and gains from the company’s stake in electric vehicle-maker Rivian. Net sales increased 9 percent in Q4 2021 compared to year-earlier levels. Fourth-quarter net income hit $14.3 billion, and the company revealed it is raising the price of its popular Prime memberships.
Meanwhile, Snap also reported better-than-expected earnings, sending shares skyrocketing. The company also reported its first quarterly net profit, per a CNBC report.
— Joanna Glasner
Arcellx prices IPO
Gaithersburg, Maryland-based Arcellx, a biotech developing therapies for blood cancers, raised $124 million in its IPO after pricing shares at $15 each, the low end of the proposed range of $15 to $17. The company plans to list on the Nasdaq under the symbol ACLX.
— Joanna Glasner
Funding rounds
Binalyze raises $10M: Estonia-based cybersecurity startup Binalyze reportedly raised $10 million in a seed round led by OpenOcean. The company focuses on an area it calls enterprise forensics, helping ensure that when breaches occur, organizations have tactical tools in place for a fast response.
— Joanna Glasner
Illustration: Dom Guzman
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