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1-person company sells for $54m,  Revolut marked down 40%, Databricks revenue up 60%,  AI delivers $10b for Microsoft, Stripe + FedNOW, Brex's $100m ARR two times, 14 yr old hired at SpaceX, Epic Games puts your face in the metaverse | Pre-IPO Stock Market Update - Jun 16 , 2023

00:36 | 1-person company sells for $54m
- WarGraphs, a single-employee gaming startup, sold to MOBA Networks for an impressive $54 million without external funding.
- Their popular League of Legends companion app, Porofessor, aids players in tracking and improving their stats.

01:38 | Revolut marked down 40%
- Revolut, a leading fintech company, experienced a setback as one of its major investors reduced its valuation by 40%.
- Molten Ventures, a European venture capital firm, wrote down its stake in Revolut from $115 million to $70 million.

02:25 | Databricks revenue up 60%
- Databricks, a leading data and analytics platform, achieved remarkable sales growth with a 60% surge in the past year, surpassing $1.0 billion in revenue.
- Their data warehousing product, competing with Snowflake, reached over $100 million in annualized recurring revenue within a year of its launch.
- Databricks' CEO, Ali Ghodsi is prioritizing investment in new AI-focused products for potential future growth.

03:06 | AI delivers $10b for Microsoft
- Microsoft's investments in AI, including its partnership with OpenAI, are estimated to generate an additional $10 billion in revenue, representing a 5% increase for the company.
- The collaboration between Microsoft and OpenAI has been crucial in advancing Microsoft’s AI technologies across industries, showcasing their commitment to innovation.

04:35 | Stripe + FedNOW
- FedNOW, the Federal Reserve's upcoming instant payments system, is set to launch in July 2023, similar to Brazil's successful PIX system.
- Stripe, an online payments company, is closely monitoring the development of FedNOW, recognizing the potential impact of real-time payments.
- The introduction of FedNOW could significantly affect the businesses of major payment providers like Visa, Mastercard, and American Express, with the possibility of merchants offering different pricing for card payments versus FedNOW payments to avoid interchange fees.

05:41 | Brex's $100m ARR two times
- Brex, a prominent fintech company, has two product lines generating $100 million in annual recurring revenue.
- Known for its innovative corporate credit card and cash management solutions, Brex has gained rapid traction among startups and incumbent businesses

06:20 | 14 yr old hired at SpaceX
- SpaceX, the innovative aerospace company led by Elon Musk, has hired 14-year-old Kairan Quazi, a college graduate, to work on its Starlink satellite internet project.

07:23 | Epic Games puts your face in the metaverse
- Epic Games has introduced "MetaHuman Animator," a tool that enables the creation of high-quality, realistic human faces in digital environments.
- Utilizing machine learning and advanced algorithms, MetaHuman Animator captures the subtleties and unique expressions of human faces, enhancing immersion and realism in gaming and other digital experiences.

08:35 | Big capital raises
- Cohere | $270m Series C, $2.2b valuation
- Instabase | $45m Series C, $2.0b valuation
- La Renon | $200m Series C, $900m valuation
- Thunes | $60m Series C, $795m valuation
- Upstream Bio | $200m Series B, $680m valuation

09:20 | Pre-IPO -0.69% for week, S&P 500 +0.17%. 
- YTD pre-IPO stocks still trail the S&P by about 28%.
- Year to date. Deel +3.67%. Stripe, Discord, Epic Games, Flexport, Chime, and Brex are all -30%+.
- This week. Deel +4.88%. Flexport +1.45%. Epic Games -5.89%. Databricks -7.02%.