RE: No more patience needed.14 Jan 2025 17:05
How long do we think it will take for Semnet to hit a 1billion Mcap. Never mind everything else. Crazy how quick things move in these industries. I can see GST hitting a 1billion Mcap by the end of 2025.
Veeam, a US-based company specialising in data security and recovery, has seen its valuation surge following a recent secondary sale aimed at optimising its cap table ahead of an IPO.
The Insight Partners-backed firm announced it secured $2 billion through the sale. It was led by TPG, with participation from Temasek, Neuberger Berman Capital Solutions, and others. The deal, which is set to close in Q1 2025, values Veeam at $15 billion, a threefold increase since its acquisition by Insight Partners, which recently backed Elisity) for $5 billion in early 2020.
The company recorded $1.7 billion in annual recurring revenue as of September, with 18% year-over-year growth.
LONDON, Aug 16 (Reuters) - Britain's Revolut has been valued at $45 billion through a secondary share sale to new and existing investors, the financial technology firm said on Friday, making it worth more than some of Europe's biggest banks.
The share sale, which enables current employees to cash out some of their shares, is being led by Coatue and D1 Capital Partners, and existing investor Tiger Global, Revolut said.
The valuation cements Revolut's position as one of Europe's most valuable fintechs.
With a $45 billion price tag, it is worth more than double French bank Societe Generale (SOGN.PA), opens new tab, which has a market capitalisation of $19 billion according to LSEG data, and Britain's Barclays (BARC.L), opens new tab, currently valued at $43 billion.
Traditional European banks, however, have been hobbled by years of weak profitability and new regulations, crimping their valuations. Barclays, for example, has seen its shares recover only to the same level of a decade ago. Investors in Revolut are betting the nine-year old firm has much better growth prospects than traditional lenders.
It has been growing rapidly, reporting a record pretax profit of 438 million pounds ($564.36 million) in 2023 and says it now has 45 million customers worldwide. Investors believe that a UK banking licence granted last month will enable the firm to lure customers wanting app-based banking away from high street banks and without the cost base of maintaining a branch network.
Founded by CEO Nikolay Storonsky in 2015, Revolut is one of a handful of financial services apps, or "fintechs", to have emerged in Britain in the last decade. It offers financial services via an app, rather than having physical branches, and was last valued at $33 billion in a 2021 fundraise.
administration proposed 2026 reimbursement rates for Medicare Advantage plans run by private insurers, which would result in a 2.2% increase in payments.
It said last month that it had finally secured a UK
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