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SimilarWeb, an Israeli-based internet measurement company, has raised $120 million in its latest fundraising round, bringing its total funding to-date to $240 million.

Our thought bubble: The company was previously reportedly valued at $800 million after its last round in 2017, so presumably it's approaching a valuation that exceeds $1 billion.

Details: The round was co-led by ION Crossover Partners and Viola Growth. The company says the new money will fuel the expansion of its business through merger and acquisition activities as well as brand awareness.

  • The company makes money by providing subscription analytics to businesses and individuals globally.
  • That business supports its wider mission of also providing free data to users around the world.
  • When it comes to web traffic, SimilarWeb data has quickly become the standard for many companies citing web traffic trends.

The big picture: Amid the pandemic, more companies have had to quickly pivot their businesses online, expanding the digital data and analytics market.

Go deeper

Dan Primack, author of Pro Rata
Nov 25, 2020 - Economy & Business

Stripe in talks to raise funding at valuation of at least $70 billion

Illustration: Aïda Amer/Axios

Stripe, a San Francisco-based digital payments infrastructure company, is in talks to raise new private funding at a valuation of at least $70 billion, and perhaps as high as $100 billion, per Bloomberg.

Why it matters: This would make Stripe the world's second-most valuable venture-backed company, or maybe the most valuable if ByteDance divests its majority stake in TikTok by this Friday's CFIUS deadline. It's also another indication that Stripe's founding Collison brothers are reticent to bring the company public.

Erica Pandey, author of @Work
Nov 26, 2020 - Economy & Business

The winners and losers of the pandemic holiday season

Illustration: Sarah Grillo/Axios

The pandemic has upended Thanksgiving and the shopping season that the holiday kicks off, creating a new crop of economic winners and losers.

The big picture: Just as it has exacerbated inequality in every other facet of American life, the coronavirus pandemic is deepening inequities in the business world, with the biggest and most powerful companies rapidly outpacing the smaller players.

Court rejects Trump campaign's appeal in Pennsylvania case

Photo: Sarah Silbiger for The Washington Post via Getty Images

A federal appeals court on Friday unanimously rejected the Trump campaign's emergency appeal seeking to file a new lawsuit against Pennsylvania's election results, writing in a blistering ruling that the campaign's "claims have no merit."

Why it matters: It's another devastating blow to President Trump's sinking efforts to overturn the results of the election. Pennsylvania, which President-elect Joe Biden won by more than 80,000 votes, certified its results last week and is expected to award 20 electoral votes to Biden on Dec. 12.