Slack (software)

Email startup Front raises $59 million

Photo: Front

Front, a San Francisco-based maker of email collaboration software, raised $59 million in Series C funding led by a group of top executives from enterprise software companies Atlassian, Qualtrics and Zoom.

Why it matters: It's not common for individuals to lead such a large round, but Front thinks that it will gain insights from executives who have had success in changing the way people work.

Go deeper: Tomorrow's workplace apps are pretty, cloud-based and collaborative

Unprofitable company IPOs are a big zero this year

The Uber banner hangs outside of the New York Stock Exchange in 2019.
The Uber banner hangs outside of the New York Stock Exchange in 2019. Photo: Spencer Platt/Getty Images

After being on pace to beat the overall market earlier this year, Reuters' April Joyner reports that a Reuters analysis finds "[u]nprofitable U.S. companies holding IPOs this year have had a median stock return of 0%."

Between the lines: This is likely because Beyond Meat is now profitable and its 228% stock increase this year is no longer counted among the returns of unprofitable companies.