Data intelligence startup Near, with 1.6B anonymized user IDs, lists on Nasdaq via SPAC at a $1B market cap; raises $100M – TechCrunch
The IPO window has all however closed for know-how corporations Inside the wake of An monumental downturn On the market, however A area of curiosity nonetheless reprimarys for some, Inside The Sort of SPACs. Shut to — A information intelligence agency that has amassed 1.6 billion anonymized consumer profiles hookayed up to 70 million places in 44 nations — right now introduced that It Might be itemizing on Nasdaq By Method of a merger with KludeIn I Acquisition Corp., Definitely one of many many clear lookay at corporations Which have been Arrange for The wants of taking privately held corporations public, at a valuation “near” $1 billion. It is going to commerce on Nasdaq using the “NIR” ticker.
Alongfacet that, The agency is choosing up a $100 million equity funding into its enterprise from CF Principal Investments, an affiliate of Cantor Fitzgerald.
Do You’d like to’ve been Adjust toing Shut to or the SPAC market, You’d possibly recall That there have been rumors of KludeIn talking To close again in December. On the time Shut to was reportedly aiming at a valuation of between $1 billion and $1.2 billion with the itemizing. The final a quantity of months, however, have seen the IPO market almost shut down alongfacet An monumental drop in know-how shares throughout the board and a wider downturn in tech investing general, even in a lot smaller, earlier-stage startups.
Shut to, initially based in Singapore in 2012 and now based mostly out of Pasadena, had enhanced aspherical $134 million in funding, collectively with a $100 million spherical in 2019 — which had been The agency’s final huge enhance.
Its buyers embrace the likes of Sequoia India, JP Morgan, Cisco and Telstra (which have agreed to a one-yr lock-up Based on KludeIn’s SEC …….