Two new Axios newsletters are on their way:
Two new Axios newsletters are on their way:
It's been a whirlwind weekend for big names leaving big jobs:
Les Moonves is out as CEO at CBS, following new (and even more disturbing) allegations of sexual harassment and assault (all of which Moonves denies). The network also swapped out six board members, and announced a settlement with majority shareholder Shari Redstone.
Jack Ma will step down as Alibaba's executive chairman on the company's 20th anniversary, which comes one year from today. His successor will be current company CEO Daniel Zhang.
Imran Khan is stepping down as chief strategy officer of Snap, where he has been CEO Evan Spiegel's right-hand man since 2015.
Tim Armstrong is on his way out of Verizon, where he leads the media and advertising biz, as first reported by WSJ.
China's Greely has decided to delay its planned IPO for Volvo, which it acquired in 2010, per the FT:
Like all large car manufacturers, Volvo is facing potential disruption to its business from the global trade war that has seen the U.S. threaten to ramp up tariffs on automotive imports from Europe and China.
• Today in Abraaj: The troubled firm is closing its London office, with the lease to be assumed by fellow private equity firm Ardian.
• Interstellar: Lightyear, a commercial entity formed last year by the nonprofit Stellar Development Foundation, today announced that it will buy Chain, a startup that develops blockchain-based technologies for the financial markets.
• Update: Social Capital's Chamath Palihapitiya tweeted "it's not accurate," in response to my Friday story on his VC firm's implosion. So I asked, also via Twitter, for more specific objections, but he has not responded. Nor has either he nor a firm spokeswoman replied to my emailed requests for comment.
• Record-breaker: M&A involving Indian companies has already passed the $100 billion mark, according to Bloomberg.
🎧 Pro Rata Podcast: We posted a special weekend edition with highlights from my on-stage interviews last Friday with General Motors CEO Mary Barra, Tusk Ventures CEO Bradley Tusk and 11-time NBA All-Star Chris Bosh. (Listen) (Subscribe)
Spyce, a Somerville, Mass.-based restaurant concept that features a robotic kitchen, raised $21 million in Series A funding co-led by CollabFund and Maveron.
🚑 Clarify Health, a San Francisco-based provider of real-time care guidance technology, raised $57 million in Series B funding led by KKR. http://axios.link/Y4ND
🚑 Alpha Tau Medical, an Israeli developer of radiation-emitting implants for treating solid tumors, raised $29 million. Shavit Capital led, and was joined by Medison Pharma, OurCrowd, Ronald Cohen and Alan Patricof. http://axios.link/YJKq
• OneDegree, a Hong Kong-based online insurance platform, secured $25.5 million in Series A funding from undisclosed investors. http://axios.link/lu7z
• ParkWhiz, a Chicago-based reservation parking service, raised $20 million in Series D funding. NewSpring led, and was joined by return backers Baird Capital, Jump Capital and Beringea. http://axios.link/C7SP
• Blue Medora, a Grand Rapids, Mich.-based IT monitoring integration company, raised $10 million from Edison Partners. www.bluemedora.com
• Unmortgage, a London-based shared ownership model for home-buying, raised £10 million in seed funding from Anthemis Exponential Ventures and Augmentum Fintech. http://axios.link/pSSZ
🚑 Scipher Medicine, a Waltham, Mass.-based developer of a molecular technology platform for predicting how patients will respond to particular therapies, raised $10 million in funding led by Khosla Ventures. www.sciphermedicine.com
• SkyX, a Canadian provider of long-range unmanned aerial monitoring and data collection, raised US$9.5 million in Series B funding led by Almond Tree Enterprises. www.skyx.com
• Perlego, a London-based “Spotify for textbooks,” raised $4.8 million in new funding led by ADV. http://axios.link/Tj7V
• Apollo Global Management and Bain Capital are in talks to buy UK-based plastics maker RPC Group (LSE: RPC), which had a market cap of $3.6 billion prior to the announcement. http://axios.link/tLkp
🚑 The Carlyle Group acquired a “significant minority stake” in Ambio, a Chinese peptide active pharmaceutical ingredient contract development and manufacturing firm, from MVM Partners.
• Goldman Sachs completed its previously-announced purchase of Boyd Corp., a Pleasanton, Calif.-based provider of thermal management and environmental sealing solutions, from Genstar Capital. www.boydcorp.com
• IF&P, a Bethesda, Md.-based portfolio company of Rotunda Capital Partners, acquired Cibus Fresh, a Noblesville, Ind.-based provider of made-to-order packaged convenience foods. www.cibusfresh.com
• Five companies plan to price IPOs on U.S. exchanges this week: NIO, 111, Navios Containers, Principia Biopharma and Qutoutiao. http://axios.link/vipl
🥡 Haidilao, a Chinese hot pot restaurant chain, filed for a Hong Kong IPO that could raise upwards of $963 million. Investors include Hillhouse Capital. http://axios.link/IcD0
• Kodiak Sciences, a Palo Alto, Calif.-based developer of antibodies for treating age-related macular degeneration, filed for a $100 million IPO. It plans to trade on the Nasdaq (KOD) with Morgan Stanley as lead underwriter. The pre-revenue company raised over $30 million from firms like Baker Brothers, Perceptive Advisors and ArrowMark Partners. www.kodiak.com
🚑 Boston Scientific (NYSE: BSX) agreed to buy Augmenix, an Israeli developer of an injectable prostate cancer spacer, for upwards of $600 million (including $500m upfront). Augmenix had raised over $70 million in VC funding from firms like OrbiMed, Redmile Group, DCM, Emergence Capital, McKesson Ventures and Catholic Health Initiatives. http://axios.link/ezhb
• HNA Group of China is seeking a buyer for container leasing company Seaco, which could fetch around $1 billion, per Bloomberg. http://axios.link/hyew
⛽ Saudi Arabia’s Public Investment Fund hired Goldman Sachs to advise on the possible sale of its stake in petrochemicals company SABIC to Saudi Aramco, according to Reuters. http://axios.link/CXwI
• Science Applications International (NYSE: SAIC) agreed to buy U.S. defense contractor Engility (NYSE: EGL) for $1.5 billion in stock. http://axios.link/Ny9H
• Green Arrow Capital of Italy closed its third buyout fund with €231 million. http://axios.link/h69j
• Tim Broadbent, former head of U.S. leveraged loan syndicates at Barclays, has joined The Carlyle Group as head of a new debt financing group. http://axios.link/sTgu
• Suzana Peric, former head of EMEA loan distribution for Banco Santander, joined EQT Partners as a director in the firm’s credit unit. http://axios.link/3aE2
• Cory Steffek, Grant Haddix and James Wang all joined Houston-based Ara Partners. Steffak (ex-Saudi Aramco Energy Ventures) will serve as a managing director, Haddix (Shell) as an operating partner and Wang (First Reserve) as a principal. www.arapartners.com
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