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Robinhood buys X1, EDX new crypto exchange, OpenAI app store?, Tiktok e-commerce in UK, Twitter in video/payments | Pre-IPO Stock Market Update - Jun 23, 2023

00:30 | Robinhood buys X1
- Robinhood has acquired X1, an emerging credit card startup, for $95m
- Robinhood is set to introduce a range of credit card offerings for its 30m+ user base

01:09 | EDX new crypto exchange
- Fidelity, Schwab, and Citadel are backing the newly launched cryptocurrency exchange, EDX
- SEC lawsuit vs Coinbase/Binance has cleared the path for incumbents to come into crypto in a proper way

03:01 | OpenAI app store?
- OpenAI is considering an AI software app store
- An OpenAI app store could become a key hub for AI advancements and further strengthen OpenAI's position as a major player in the field

04:34 | Tiktok e-commerce in UK
- TikTok has begun selling products on its platform in the UK
- Move demonstrates TikTok's ambition to compete with established e-commerce giants and alter the way consumers discover and purchase products

05:55 | Twitter in video/payments
- Twitter is focusing on video and payments as part of its strategic growth plan
- Video content generates 10x more engagement vs text tweets
- Twitter aims to tap into the growing trend of social commerce

07:02 | Big capital raises
- Lenskart | $600m Series I, $4.1b valuation
- Synthesia | $90m Series C, $1.0b valuation
- CubicPV | $33m Series C, $483m valuation
- Truework | $24m Series C2, $480m valuation
- Tomorrow.io | $87m Series E, $437m valuation

09:12 | Pre-IPO +0.79% for week, S&P 500 +2.58% 
- YTD pre-IPO stocks still trail the S&P by about 30%.
- Year to date. Databricks +8.07%, Deel +2.77%. Stripe, Epic Games, Discord all -30%. Flexport, Chime, Brex all -30% or more.
- This week. Databricks +12.39%. Brex -2.91%.

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