Briefing

The Briefing: Hot IPO Summer Looms With Didi, Robinhood; Fresha Lands $100M, 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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Hot summer of IPOs looms with Didi, and Robinhood likely to follow

This summer is shaping up to be a big season for massive U.S. IPOs, with China-based ride-hailing giant Didi Chuxing filing to go public, and stock trading platform Robinhood expected to follow shortly.

Didi submitted a filing Thursday for a U.S. IPO that showed a whopping $21.6 billion in revenue last year, as well as a modest profit in the first quarter of this year. The company is reportedly seeking to raise around $10 billion at a valuation close to $100 billion, according to a Reuters article citing unnamed sources.

Meanwhile, Robinhood’s filing for a public listing is also expected to come in time for a summer market debut, according to a report in The Wall Street Journal. The company could reportedly see a public valuation of $40 billion or more.

— Joanna Glasner

Funding rounds

Fresha lands $100M for beauty booking: London-based Fresha, a platform for booking beauty and wellness appointments, raised $100 million in a Series C round led by General Atlantic. The 6-year-old startup plans to use the funds to expand in new geographies and add more categories of companies to its service.

Incari raises $15M Series A: Berlin-based Incari, a developer of next-generation human-to-machine interfaces, has raised $15 million in a Series A funding round led by investor and entrepreneur Lukasz Gadowski.

— Joanna Glasner

M&A

ReCharge acquires ElectricSMS: ReCharge, a subscription management software for e-commerce businesses, announced Friday that it acquired Los Angeles-based ElectricSMS in a multimillion-dollar cash and equity deal. ElectricSMS came out of software firm AE Studio and is now rebranded as ReChargeSMS. The company enables customers to manage subscription preferences in real-time, such as skip, revise, renew and reschedule orders through SMS chat.

— Christine Hall

New Funds

A-Street Ventures raises $200M for first fund: Bentonville, Akansas-based A-Street Ventures, a new VC fund, debuted with $200 million to invest in K-12 education, according to Axios. A Medium post announcing the fund says profits from investments will be reinvested or donated to charity. A-Street Ventures will be led by Marc Sternberg, who is stepping down as director of the Walton Family Foundation.

— Sophia Kunthara

Illustration: Dom Guzman

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