Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:
- Everything you need to know about Roblox’s direct listing today
- BlackRock outlined new diversity and inclusion changes
- Chamath Palihapitiya and Michael Dell’s investment firm MSD Capital back fintech Pipe
We are also looking for nominations for upcoming list of top equity research analysts under 35. Find out more about the list, and how to nominate someone here.
The video-game maker is set to go public in a direct listing today, with Goldman Sachs, Morgan Stanley, and Bank of America advising. It’s arrival to the public markets comes after a series of hurdles and delays, and as volatility returns to tech stocks.
M1 Finance just raised a $US75 ($97) million Series D led by Coatue after a red-hot 2020. The fintech’s CEO explains its push to digitize the private bank experience.
After three rounds in nine months, CEO Brian Barnes said M1 is “getting close” to being a unicorn. Read more here.
Assurant just inked a $US1.3 ($2) billion deal to sell its prearranged funeral business as the insurer looks to lean into tech-focused coverage
CUNA Mutual Group has agreed to buy Assurant’s prearranged funeral insurance business. The $US1.3 ($2) billion deal signifies expansion in a well-known business for CUNA Mutual and marks an increased focus on digital offerings for Assurant. See more here.
A software company that struggled to raise money last year just nabbed $US4 ($5) billion from investors – and it’s a case study in the ‘insatiable’ appetite for risky debt deals
As debt increased for Ireland’s ION Group, investors balked at its previous attempts to raise loans. Now, ION is nearing $US4 ($5) billion in transactions to refinance debt held by its companies. Get the full rundown here.
Luke Bergstrom, Latham & Watkin’s M&A leader, walked Insider through brokering one of 2020’s biggest deals and what’s on the horizon for 2021. Find out more here.
Pipe, a venue for companies to get cash up front for their subscription revenue, just raised $US50 ($65) million from high-profile investors like Chamath Palihapitiya and Marc Benioff
Pipe, which helps companies with recurring revenue get cash up front, just nabbed $US50 ($65) million from some high-profile investors. Founder and co-CEO Harry Hurst told Insider how he’ll use the capital. Read more here.
BlackRock outlined its diversity and inclusion strategy at a company town hall on Tuesday. The asset manager has been in the spotlight after former employees alleged they experienced harassment and discrimination at the firm. See more here.