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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Reddit reportedly planning big IPO
The company was reportedly valued around $10 billion in a private funding round last month. As a public company, Reddit is said to be seeking a valuation of more than $15 billion.
Founded in 2005, Reddit has raised at least $1.3 billion in known funding to date, per Crunchbase data, with the majority of investment occurring over the past two years.
Chinese EV maker Iconiq mulls SPAC listing
China-based electric vehicle maker Iconiq is in talks about potentially going public through a merger with a blank-check acquirer, according to a Bloomberg report citing unnamed sources. A deal could reportedly value the combined company at around $4 billion.
Sunday raises $45M Series B: Bangkok-based Sunday, a tech-focused provider of insurance policies and underwriting, raised $45 million in a Series B financing backed by Tencent, SCB 10X, Vertex Ventures Southeast Asia & India, Quona Capital, Aflac Innovation Partners and Z Venture Capital.
— Joanna Glasner
Illustration: Dom Guzman
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