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SpaceX hits $5b in revenue, Kardashian’s Skims raises $270m, Binance fires 1000 employees, Tucker Carlson to start new media company, Oddity Tech’s successful IPO | Pre-IPO Stock Market Update - Jul 14, 2023

00:30 | SpaceX hits $8b in revenue
- SpaceX's 2023 revenue is projected at $8b, up 100% from 2022
- Starlink's estimated $2b annualized run rate revenue
- $3 billion in 2023 EBITDA (37% profit margin)

01:38 | Kardashian’s Skims raises $270m
- Skims’s Series C funding round valued the company at $4b
- New capital will aid expansion into new areas like men's clothing and physical stores
- Skims predicts $750m in 2023 revenue, IPO expected within a year

02:37 | Binance fires 1000 employees
- Binance has laid off over 1,000 employees amidst escalating legal issues and numerous executive resignations
- The company has investigations/lawsuits with US Department of Justice, SEC, and CFTC.

03:18 | Tucker Carlson to start new media company
- Carlson raising “hundreds of millions” in capital
- New media company will be direct to consumer and potential subscription based

04:24 | Oddity Tech’s successful IPO
- Oddity, known for selling makeup brands Il Makiage and SpoiledChild, differentiates itself by using data and AI for customer recommendations
- Oddity’s IPO saw a 40% surge in trading, starting at $49.10 a share and reaching a market capitalization of about $2.8b

05:03 | Big capital raises
- SKIMS | $500m Series C, $4.0b valuation
- AlphaSense | $150m Series E, $2.5b valuation
- HawkEye 360 | $58m Series D1, $958m valuation
- Bobbie | $70m Series C, $570m valuation
- Cardurion Pharma | $300m Series A, $510m valuation

06:11 | Pre-IPO stocks were up 0.94% the past week
- Flexport +9.59%, OpenAI +9.43%, Ramp +6.65%, Chainalysis +6.40%, Stripe +2.89%. Airtable was down big at -9.04%.
- Top 5 companies by current implied valuation; $206b ByteDance, $157b SpaceX, $46b Stripe, $32b OpenAI, $31b Databricks.

This Week in Pre-IPO Stocks - Market Update - Jul 14, 2023 - E54

This Week in Pre-IPO Stocks