Here’s what you need to know today in startup and venture news, updated by the ¸½½üÉÏÃÅ News staff throughout the day to keep you in the know.
Eruditus raises $113M for edtech
Edtech startup has $113 million in funding led by Leeds Illuminate and , with participation from the and .
Founded in 2010, the Mumbai-based company maintains partnerships with over 30 top-tier universities to develop online higher education courses. The startup, which has offices in six countries and employs over 650 people, said it has enrolled 50,000 students in the past 12 months.
TikTok denies Triller talks as deal nears
is not in talks to sell its U.S. business to rival short-video-sharing app the company on Monday.
Still, Triller Executive Chairman Bobby Sarnevesht insisted that the bid had been submitted. His comments came after that London-based Centricus Asset Management and U.S. app Triller were seeking to buy TikTok’s operations in the U.S., Australia, New Zealand and India for $20 billion, citing a person familiar with the matter.
Meanwhile, CNBC is that a potential purchase of TikTok’s U.S. operations could be announced as early as tomorrow. Microsoft, in partnership with Walmart, and Oracle are the top contenders. The sale price is expected to be in the range of $20 billion to $30 billion.
GoodRx, Wish file plans to go public
• E-commerce platform said Monday that it confidentially filed an S-1 registration document with the United States Securities and Exchange Commission to go public. [Read more here.]
, provider of a prescription drug price comparison tool, also filed to go public. The company will list on the Nasdaq under the symbol GDRX. In its , the Santa Monica, California-based company lists revenue of $257 million in the first six months of the year, up from $173 million in the year-ago period. Unlike most tech companies tapping public markets, GoodRx is also immensely profitable, with net income of nearly $55 million in the first half of the year. [Read more here.]
Zynga, LinkedIn founders to raise $600M SPAC
and , the respective founders of and , are coming together to raise $600 million for a special purpose acquisition company, according to a new filing with the Securities and Exchange Commission. The new blank-check company, known as Reinvent Technology Partners, also counts Michael Thompson as a founder. Thompson is perhaps best known for co-founding BHR Capital.
Pincus and Hoffman have invested together over the course of nearly 20 years, according to the filing. They invested early in companies like , , and , to name a few.
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