Rivian Automotive Inc, an electric-truck startup is targeting a valuation of around $70 billion in its potential initial public offering later this year. Earlier this year in January, Amazon.com Inc and Ford Motor Co-backed Rivian had a valuation of $27.6 billion, following a $2.65-billion investment round led by T. Rowe Price. Rivian has hired advisers including…
Tech-savvy KKR has prior experience in the music industry given its earlier deal with Bertelsmann; however negotiations with Vincent Bollore are expected to be tough, especially if KKR and Tencent push for a controlling stake. According to sources familiar with the matter at hand, China’s Tencent Music Entertainment Group and U.S. buyout fund KKR are…
JPMorgan’s blockchain platform was built using Quorum, a type of open-source blockchain that it has developed in-house and is looking to spin-off. On Friday, JPMorgan Chase & Co disclosed, it has field tested tested a new blockchain platform for issuing financial instruments with the National Bank of Canada and other large firms. The platform is…
Nio has hired 8 banks for the planned U.S. IPO. According to sources with knowledge of the matter, Nio, a Chinese electric vehicle startup has hired 8 banks, including Goldman Sachs and Morgan Stanley for its planned U.S. stock market listing this year, worth up to $2 billion. The eight banks are, JPMorgan, Goldman Sachs,…
It would appear that JPMorgan’s CEO, Jamie Dimon is wooing millennials with this tech savvy approach which not only brings in significant cost savings while enlarging the bank’s reach and tapping potential new clients where it does not have a brick-and-mortar presence. On Monday, in its first ever offering of online bank accounts, JPMorgan Chase…
Global investors, including pension funds, are attracted to India’s burgeoning solar power market likes bees to honey. Some of the world’s biggest pension funds are increasingly drawn to India and are scouting for deals in green investments. Indian Prime Minister, Narendra Modi has set a target of $100 billion in investment in the next five…
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