Follow the money: These are the deals, financings and IPOs that caught our eye this week
Ontario Teachers’ finds an education fit plus Shopify invests in payments firm Stripe
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Here’s a roundup of some of the biggest deals, financings and M&A headlines that caught our eye this week:
Toronto-based VerticalScope Inc. made its public debut on the Toronto Stock Exchange after raising its offering by 25 per cent to $125 million a day earlier on strong investor demand.
Ontario Teachers’ Pension Plan led a $375 million financing round for ApplyBoard, valuing the education technology company at $4 billion.
Shopify invested in San Fransisco-based fintech Stripe, which raised $1 billion from a group including the Canadian tech darling as well as Capital Group, Sequoia Capital and Silver Lake, according to the Wall Street Journal.
Alphabet Inc’s self-driving unit Waymo raised US$2.5 billionfrom backers including Canada Pension Plan Investment Board.
The Canadian government added an extra layer of scrutiny to international M&A of domestic video games developers as deal activity in the sector climbs.
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Fredericton-based AI sales and revenue acceleration platform Introhive raised US$100 million after nearly doubling its revenue during the pandemic.
European fintech giant Klarna raised US$639 million, with a post-money valuation of US$45.6 billion, less than four months after its last funding round.
Ride-sharing company Didi Chuxing Technology Co. — which holds 90 per cent of China’s market share — filed for a US IPO last week. Its valuation could hit US$70 billion, according to The Wall Street Journal.
Stronach Group, led by former politician Belinda Stronach, is fielding interestfrom special purpose acquisition companies (SPACs) and other investors, according to Bloomberg.
New York-based Blackstone Group Inc. is acquiring SOHO China Ltd. — a major developer known for its futuristic office buildings — for US$3.05 billion, in what would be its largest real estate deal in China.
Canadian companies have completed nine initial public offerings of at least $200 million this year, well ahead of 2020’s pace when there were 11 IPOs of that size for the whole year, according to Bloomberg News.
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