Aug 02, 2024

I have received some interesting financial news lately. One of the key topics discussed was the performance of value stocks, which have consistently outperformed when priced cheaply since 1995. Additionally, there were reports about various financial developments, including a fake press release about a bid for Paramount, fraud charges against the founder of a SoftBank-backed app, and a proposal by the CEO of 23andMe to take the company private. The acquisition of Teads, an adtech company, by Outbrain for $1 billion was also highlighted.

The emails also provided insights into the challenges related to investment vehicles like closed-end funds. Billionaire Bill Ackman’s Pershing Square faced difficult questions from investors and ultimately withdrew its initial public offering for a US closed-end fund after downsizing its fundraising target. In contrast, Brad Jacobs successfully priced an IPO for his own closed-end fund, raising over $5 billion from investors.

Other significant developments in the world of finance included behavioral health benefits provider Spring Health raising a $100 million Series E, private equity firm ArcLight Infrastructure Partners creating a new unit with $500 million in initial funding for solar and wind farm investments, and Siddhi Capital raising a second growth equity fund of $135 million to invest in food, beverage, and food tech. Additionally, NBCUniversal announced that it is on pace to surpass the record $1.25 billion in advertising sales from the Tokyo Olympics just days into the Paris Olympics.

The news also covered exclusive stories, such as accounting automation startup Rillet raising $13.5 million and Sora Fuel raising $6 million to help power planes with carbon dioxide. Disney and Spotify’s partnership with Yahoo for audio ads, Outbrain’s acquisition of Teads, and key personnel shifts in various companies were also highlighted. These developments highlight the ongoing activity and innovation in the financial and tech sectors, and it will be interesting to see how these developments continue to unfold in the coming weeks.

Stay Well!