Feb 28, 2020 - Economy & Business

Social Capital files for two more blank check company IPOs

Photo: Scott Heins/Getty Images

VC firm Social Capital has filed to take public two more special purpose acquisition corporations ("blank check companies"), aiming to raise at least $300 million and $600 million respectively, according to new SEC filings.

Why it matters: Social Capital and partner Hedosophia first executed this unusual move a couple of years ago, culminating with the vehicle's acquisition of Virgin Galactic last year, taking the private space exploration company public at a valuation of about $1.5 billion.

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Airbnb looks for backups to going public amid coronavirus downturn

Illustration: Aïda Amer/Axios

Airbnb may not be through with the private markets after all, as CNBC reports that the room rental giant is fielding offers from large investment firms, although pricing remains unclear.

Why it matters: 2020 was supposed to be the year that Airbnb went public, either through an IPO or a direct listing (or a combination of the two).

Zoox scouts for funding ahead of self-driving taxi debut

Zoox CEO Aicha Evans. Photo: Steve Jennings/Getty Images for TechCrunch

Zoox is in "advanced discussions with several strategic partners and corporate investors" for its next round of funding, CEO Aicha Evans tells Axios.

Why it matters: The self-driving car developer has been especially quiet for the past year or so, and venture capital sources say the company has struggled to raise capital to fund its ambitious plans.

Tesla says it can weather the coronavirus storm

Photo: Smith Collection/Gado/Getty Images

Tesla said it has enough resources to deal with an "extended period of uncertainty" as the electric automaker announced it will suspend production at its California factory.

Why it matters: Tesla can't be untethered from the future of electric vehicles, especially not in the U.S., where it dominates sales and plays a big role in pushing the sector closer to the mainstream.