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☆ Ramp: 2024 CNBC Disruptor 50
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: 1 min

When the economic outlook is uncertain, companies keep a closer eye on expenses. Ramp is among the increasing number of expense management software offerings available to companies big and small. Companies save an average of 5% a year on expenses. The company passed $300 million in annualized revenue in 2023 and grew transaction volume sixfold, surpassing $10 billion in accounts payable volume. At a time when many other startups are finding it more challenging to raise capital, Ramp raised $300 million last August from existing investors, including Thrive Capital, Sands Capital and General Catalyst.

Persons: Catalyst Organizations: Companies, Sands Capital

Arm kicked off its roadshow in Baltimore, where influential asset manager T Rowe Price is headquartered, underscoring the fund manager's significance in big IPOs. Arm disclosed the proposed range would value it at between $48 billion and $52 billion. The valuation that Arm is chasing represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." Unlike most loss-making but high-growth tech companies that debut with lofty valuations but later plummet below list price, Arm is profitable.

Persons: Group's, T Rowe Price, SoftBank, Jamie Mills O’Brien, Abrdn, Arm, Dado Ruvic, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Arm Holdings, Rivian Automotive Inc, Sands, Cambridge, Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Inc, Reuters, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: Baltimore, Arlington , Virginia, England, China, United States, Bengaluru, London, Lincoln

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, the sources said. The chip designer is expected to meet with other investors in cities including New York in the days leading up to the pricing of its IPO on September 13, the sources said. T Rowe Price and Sands Capital did not immediately respond to requests for comments. Reporting by Echo Wang and Anirban Sen in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Rowe Price, Arm, Echo Wang, Anirban Sen, Nick Zieminski Organizations: REUTERS, Arm Holdings, SoftBank Group Corp, Sands Capital, Thomson Locations: Baltimore, Arlington , Virginia, New York

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. Arm is also meeting with other potential investors, including Arlington, Virginia-based Sands Capital, in Baltimore on Tuesday, according to people familiar with the matter. T. Rowe Price and Sands Capital did not immediately respond to requests for comment. Arm has signed up many of its major clients as investors in its IPO, including Apple (AAPL.O), Nvidia (NVDA.O), Alphabet (GOOGL.O), Advanced Micro Devices (AMD.O), Intel (INTC.O) and Samsung Electronics (005930.KS). Reporting by Echo Wang and Anirban Sen in New York; Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Rowe Price, Arm, Echo Wang, Anirban Sen, Nick Zieminski Organizations: REUTERS, Arm Holdings, SoftBank Group Corp, Sands Capital, Apple, Nvidia, Devices, Intel, Samsung Electronics, Thomson Locations: Baltimore, Arlington , Virginia, New York

☆ Fintech firm Ramp raises $300 mln at lowered valuation of $5.8 bln
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Aug 22 (Reuters) - Ramp, a developer of financial management software, has raised $300 million in its latest funding round to accelerate expansion in new categories, the company said on Tuesday, notching up a valuation of $5.8 billion. The new funding is at a lower valuation from the $8.1 billion achieved by the New-York based startup in a funding round last year, a spokesperson of the company confirmed. The latest funding round was co-led by Thrive Capital and Sands Capital along with existing investors Founder's Fund and General Catalyst among others. Previous investors in the fintech include Microsoft Corp (MSFT.O) CEO Satya Nadella, Goldman Sachs (GS.N), Redpoint Ventures and Thrive Capital. The financial management company intends to expand its software into adjacent categories in an attempt to make customer's businesses more "efficient", said Chief Executive Officer Eric Glyman.

Persons: Satya Nadella, Goldman Sachs, Eric Glyman, Pritam Biswas, Shailesh Organizations: New, Sands Capital, Founder's Fund, Catalyst, Microsoft Corp, Redpoint Ventures, Thomson Locations: York, Bengaluru

CALGARY, Alberta — Judy Greenwood did not want to leave. In much of the western province of Alberta, this time of year has long been wildfire season. As of Tuesday after, about 24,000 people were out of their homes in the sparsely populated, largely northern areas of the province as 88 active wildfires were burning across nearly one million acres. There have already been 412 fires this season — which typically runs from March 1 to Oct. 31 — an unusually high number. And for residents of vulnerable areas, that has evoked uneasy memories of 2016, when raging flames moved from the forest into the oil sands capital of Fort McMurray, Alberta.

☆ Check out the 18-page pitch deck that AI startup Papercup used to raise $20 million and help media and entertainment companies reach new global audiences
▼ + stars: | 2023-05-05 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Papercup is a UK-based startup that's helping media and entertainment companies find global audiences. Read the pitch deck Papercup used to raise its $20 million Series A round. Digital media and streaming companies are increasingly looking overseas for growth as the US market for subscribers gets saturated. Its most recent round was its $20 million Series A last year led by Octopus Ventures; other investors included Local Globe, Sands Capital, and Sky and Guardian Media Ventures. Check out the deck that helped Papercup raise its $20 million Series A round.

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