Tag

Coatue Management

All articles tagged with #coatue management

business2 years ago•1 min saved

OpenSea Investor Takes Massive 90% Hit on Platform Stake: Report

Coatue Management, a major investor in OpenSea, has marked down its investment in the nonfungible token (NFT) platform by 90%, reducing its stake from $120 million to $13 million. This implies that OpenSea's valuation has fallen to $1.4 billion. Coatue also marked down its investment in Web3 payment provider MoonPay by the same percentage. The markdown comes amid a slump in NFT trading volumes, with OpenSea recently announcing a 50% reduction in staff as part of its plan to relaunch as OpenSea 2.0. The platform's CEO stated that the focus will be on upgrading technology and increasing speed and quality.

via Cointelegraph|

#business #coatue-management #investment

business2 years ago•0 min saved

OpenSea's Valuation Plunges 90% as Coatue Slashes Stake Value

Coatue Management, a major investor in OpenSea, has reduced the value of its stake in the struggling non-fungible-token marketplace by 90%, implying a valuation of $1.4 billion or less. The markdown reflects a reassessment of investments made during the crypto boom, as the market has deteriorated. OpenSea had previously been valued at $13.3 billion in a funding round led by Coatue and Paradigm.

via The Information|

#business #coatue-management #crypto-boom

finance2 years ago•1 min saved

Saudi Arabia Reveals Extensive Venture Fund Connections

The Saudi Public Investment Fund's venture arm, Sanabil Investments, has disclosed its partnerships with nearly 40 US VC firms and a few international funds, including Andreesseen Horowitz, Coatue Management, Craft Ventures, and Insight Partners. This move comes after several years of VC firms being hesitant to disclose whether they have raised money from Saudi Arabia following the murder of Jamal Khashoggi in 2018.

via The Information|

#andreessen-horowitz #coatue-management #finance