Initial Public Offerings: Lyft Files for IPO
Last week, Super League Gaming (live streaming of in-person amateur gamer competitions) and Kaleido Bioscience (clinical-stage healthcare company focused on the human microbiome) completed their initial public offerings. Super League is the first e-sports company to go public.
Lyft officially filed for an IPO late last week, reporting $2.16 billion in revenue in 2018.
Mergers & Acquisitions: Over $2.5 Billion Transacted for SaaS Companies Last Week
Data from Pitchbook indicates that $32.3 billion was spent on 37 M&A transactions last week, up $24.9 billion for the same number of deals the prior week. Much of the increase in spending can be attributed to large deals, including a $21.4-billion acquisition bid by manufacturing and healthcare conglomerate Danaher for General Electric’s biopharmaceutical business.
In another major M&A deal of the week, Illinois-based Alight Solutions acquired global information technology firm Wipro’s stake in Workday and Cornerstone OnDemand. The deal was among the $2.5 billion spent for SaaS firms last week.
Economy: Strong Dollar Helps Trade Deficit Reach 10-Year Record
Among news last week: