article thumbnail

SoFi-Social Capital Merger Will Fuel Growth Of One-Stop-Shop Financial Supermarket

PYMNTS

Online FinTech startup SoFi announced Thursday (Jan. 7) that it was merging with publicly-traded Social Capital in an $8.6 billion deal that brings it instant liquidity and avoids the uncertainty of the initial public offering (IPO) process, while leaving it better positioned to take on legacy banks.

Capital 150
article thumbnail

Online Styling Company Stitch Fix Might Be Considering IPO

PYMNTS

Online styling company Stitch Fix is in preliminary discussions with bankers regarding an initial public offering, according to Fortune. Founded in 2011, the company offers a subscription service of regular fashion “fixes,” or curated boxes of clothing compiled by both human stylists and data analytics.

Online 100
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Investors Turn Their Noses Up At Online Lending

PYMNTS

Online lending was all the rage even a few months ago, but funding going toward online lending platforms is on the decline. equity investments going toward online lending companies fell 44 percent in the first half of 2016 to $2.1 According to PitchBook, online lending startup companies were able to raise $12.6

Lending 100
article thumbnail

Report: Digital Lender SoFi Eyes IPO Via SPAC

PYMNTS

Social Finance (SoFi), a San Francisco-based online lending startup, is holding talks about selling to a blank-check acquisition company, Reuters reported, to help it debut on the stock market. The news reveals CEO Anthony Noto 's aspirations to go public after he succeeded SoFi Co-Founder Mike Cagney in 2018. SoFi was valued at $4.8

Report 269
article thumbnail

Funding Could Bring The RealReal To $1B Valuation

PYMNTS

The RealReal , an online retailer for authenticated luxury consignment, has authorized the sale of up to $70 million in new shares that could put its valuation at $1.06 Earlier this year, it was reported that the online retailer was considering an initial public offering (IPO) for later this year.

article thumbnail

GameStop's Top Investor Sees Epic Battle With Amazon

PYMNTS

In 2011, Cohen started Chewy.com and went on to serve as CEO. By 2016, Chewy had sales of $900 million and had raised millions in venture capital backing. In 2017, PetSmart bought the online pet store for nearly $3.4 Right now, GameStop’s focus is on video games, consumer electronics and gamer merchandise.

Video 212
article thumbnail

Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

Online 98