In today’s top news, Coupang raised $4.6 billion in its IPO, and LendingClub reported that loan volumes were up 56 percent in the fourth quarter. Plus, Grab is considering going public with a SPAC.
South Korea’s Coupang Files $4.6 Billion US IPO
South Korea’s Coupang filed an initial public offering (IPO) in the U.S. that raised $4.6 billion, the largest share offering this year and above its initial price range. The eCommerce platform is now valued at $60 billion.
LendingClub Q4 Loan Volume Rebounds By 56 Pct
LendingClub reported Wednesday (March 10) $75.9 million in net revenue, a 60 percent loss from Q4 last year. But it also reported that loan originations climbed 56 percent quarter over quarter, exceeding expectations.
Grab Mulls Public Filing In US Via SPAC
Southeast Asian delivery startup Grab Holdings Inc. is considering going public in the U.S. through a merger with a special purpose acquisition company (SPAC), although a traditional IPO is still a possibility as well.
Trade Group Forms To Promote FinTech Development, Regs
FinTech leaders like Afterpay have formed a new trade group called the Financial Technology Association, which aims to support financial regulation and promote financial inclusion and opportunity.
US, UK Firms Prioritize Innovation To Speed X-Border Payment Flows
Businesses in the U.S. and the U.K. now do more commerce abroad, but it comes at a cost: They wait 55 percent longer to get paid by those buyers than by those in their domestic markets. In the Innovating Cross-Border Payments Report, PYMNTS surveyed 456 U.S. and U.K. payments decision-makers to learn the three ways these businesses are streamlining cross-border payment flows.
Twitter, Tripadvisor Herald The Next Wave Of Subscription Models
After a blistering 2020, there’s not much a consumer can’t access through a subscription these days. As sticky.io CEO Brian Bogosian told Karen Webster in a recent conversation, companies like Twitter and Tripadvisor can bring the model to new areas if they keep customers’ needs at the center.
Amazon And Other Firms Reckon With Persistent Supply Chain Snarls
The digital-first economy has taken root – but along with the deluge of buying things online, logistics and last-mile efforts are snarled. That means Amazon and others are looking at alternatives to traditional shipping – and supply chains themselves may have to retool with high tech.
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