Robinhood Markets is raising two billion dollars through a sale of convertible senior notes due October 2029, joining a surge of zero-coupon convertible issuance from technology companies betting that investors will accept no interest in exchange for e…
OpenAI’s books show zero debt and just $46mn of quarterly capital spending. The catch, reported by The Information: around $665bn of commitments sitting just off the balance sheet, now heading for regulators’ desks. On paper, OpenAI looks like a lean s…
Fresh from a record IPO that helped make Elon Musk a trillionaire, SpaceX is raising at least $20bn in its debut bond sale to bankroll a vast AI build-out. SpaceX is about to do something none of Elon Musk’s companies has done before. It is borrowing m…
Meta is paying $900mn for a fifth of Cred, an Indian fintech. The bigger prize is its founder, Kunal Shah, who will now run WhatsApp. Meta has found its next WhatsApp boss the way it now likes to find people: by writing a cheque. On Monday, the company…
The Lime IPO has a price and an anchor investor: Uber, the ride-hailing giant that already owns a chunk of the scooter firm and is now backing its market debut. Lime is going public, and an old backer is helping carry it across the line: Uber. The scoo…
Most of what makes American healthcare expensive happens before a doctor is ever in the room, and after. Someone schedules the appointment, confirms the insurance, works out what the patient owes, and chases the payer when a claim stalls. It is slow, f…
The hard part of electrifying a motorcycle in Lagos or Nairobi was never the motorcycle, it was the charging. A rider who earns by the trip cannot afford to sit for hours waiting for a battery to fill, which is why Spiro built its business around swapp…
Seedcamp has spent nearly two decades writing the first cheque into companies before anyone else was sure they were worth one. Revolut, Wise, UiPath, Synthesia, and Fluidstack all took early money from the London firm, and on Monday it said it had rais…
Certification is the kind of work most people never think about until it holds something up. Before a regulator grants a permit, a buyer pays a premium, or an investor releases capital, somebody has to confirm that a claim is true, and for decades that…
Jio Platforms, the digital and telecom arm of Mukesh Ambani’s Reliance Industries, filed its draft red herring prospectus with India’s securities regulator on Friday for what would be the country’s largest initial public offering. The filing covers a f…