What is PropertyGuru? PropertyGuru is a proptech company that was founded in Singapore in 2007 and is backed by private equity giants KKR (KKR) and TPG. Their platform utilizes artificial intelligence and augmented reality to assist people with their property search. Pretty cool stuff! They are now present in 14 markets in Asia.
PropertyGuru had plans to go public on the Australian Stock Exchange in 2019 but that didn’t happen due to valuation concerns. They had raised $200 million from KKR & TPG last year to accelerate their growth in markets like Malaysia and Vietnam.
Why is this important? Bridgetown 2 was formed by billionaire investors Peter Thiel and Richard Li to target new economy technology, financial services and media companies in Southeast Asia. A potential deal could be announced as soon as July. If the deal goes through, the SPAC could be valued at $2 billion. Wowza!
📈 Linkedin invests nearly $50 million in Hopin 💰
Linkedin, which was acquired by Microsoft (MSFT) back in 2016, is investing nearly $50 million in virtual events technology company Hopin. Linkedin’s Vice President of Business Development, Scott Roberts, thinks that “virtual events are here to stay.”
Stocks of Microsoft are up 16.49% year-to-date and closed at $253.59 yesterday.
📈 How will the Democrats’ antitrust bills affect Big Tech? 🤔
This bill, if approved, would mean the following:
These companies will have a tougher time completing large mergers & acquisitions in the future.
These companies would end up having to pay higher costs to file for their acquisition clearance.
The bill would mandate these companies to make it easier for users to leave their platforms with their data intact.
Stocks of Google, Facebook, and Amazon are up 39.5%, 22.8%, and 2.97% respectively year-to-date. Stocks of Apple are down 1.76% year-to-date.
Top movers & shakers 🎢
What else is making headline news 📰
Popular companies releasing earnings this week 💰
A company’s market value may fluctuate considerably around the time that the earnings report is expected to be published. Stock prices may rise or fall according to analysts' speculative estimates, released prior to the actual earnings announcement.
The earnings season can be a time of great opportunity since better-than-expected figures could cause a company’s stock to greatly increase in value. Worse-than-expected results could have the opposite effect.
That’s all from us for now.
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The legal stuff 🤓
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