LegalZoom today announced that it's the subject of a $500 million secondary investment that Axios has learned values the legal services company north of $2 billion.

Why it matters: Some of the new investors are mutual funds, which suggests an IPO could be in LegalZoom's future. The company previously filed in 2012 but never got lift-off.

  • Francisco Partners and GPI Capital co-led the new investment, with Franklin Templeton and Neuberger Berman also participating.
  • Permira, which acquired a control stake in 2014 for around $200 million, is selling into the round but will remain LegalZoom's largest single shareholder.
  • In 2014 I reported that around 30% of LegalZoom's revenue came from subscription services, but Permira wanted that figure to top 50%. It now has.

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Updated 1 min ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.

Amy Coney Barrett sworn in as Supreme Court justice

Amy Coney Barrett took the constitutional oath to serve as a Supreme Court justice at a White House ceremony Monday night, not long after the Senate voted to confirm her nomination to the high court in a 52-48 vote.

The state of play: Justice Clarence Thomas administered the oath. The Supreme Court wrote in a statement that Barrett will take the judicial oath on Tuesday, at which point she will be able to begin her work on the court.

Gulf Coast braces for Zeta after storm strengthens into hurricane

Hurricane Zeta's forecast path. Photo: National Hurricane Center

Louisiana Gov. John Bel Edwards (D) declared a state of emergency Monday as Zeta strengthened into a hurricane and threatened Mexico's Yucatan Peninsula as it moved towards the U.S. Gulf Coast.

The state of play: Zeta was expected to make landfall on the northern part of the Yucatan Peninsula Monday night, bringing with it a "dangerous storm surge" and "heavy rainfall" as it moved into the Gulf of Mexico, the National Hurricane Service said.