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The Latest Breaking News from General Atlantic

iPhones With Tiktok Sell For Up To £20K On eBay As App Remains Absent In US App Store

iPhones with TikTok installed are fetching exorbitant prices on eBay, with some listings exceeding £20,000.

International Business Times UK

Duolingo backer in £802m raid on London-listed training company

US private equity firm General Atlantic swoops on Learning Technologies Group as exodus from London stock exchange continues

The Guardian - UK

Gen Z loves sobriety so much that America's biggest non-alcoholic beer brand just doubled its valuation to $800 million

Athletic Brewing, founded in 2018, topped $90 million in sales last year.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

The congressman investigating four VC firms with ties to China has a message: This is just the beginning

In an interview with Term Sheet, Representative Mike Gallagher said that these letters to venture capital firms were just the beginning of the Committee’s investigation.

Fortune

Is the mega-round back?

Despite a challenging private market, more than 25 startups have recently announced nine-figure fundraises.

Fortune

The week that killed Silicon Valley Bank

Early in the week of Feb. 27, SVB got some worrisome news.

Axios

Regulators shut down SBV after bank run

How can a bank run happen in 2023? Why didn’t anyone step in to save SVB? And who is at risk now?

Fortune

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70% of dealmakers say that investment managers share culpability for FTX

Investors have historically been made out to be victims in court when a startup implodes. But investors think VC firms share some responsibility.

Fortune

Ajay Banga’s World Bank appointment shows that financial CEOs aren’t toxic anymore

The nomination of the former Mastercard CEO shows how Wall Street has lost its status as America’s biggest corporate villain.

Fortune

Joe Biden nominates former Mastercard boss Ajay Banga to lead World Bank

US president puts forward choice to oversee new focus on climate crisis after resignation of Trump appointee David Malpass

The Guardian - UK

IPO outlook: After a boom and bust in recent years, 2023 may be the year unicorns Stripe, Chime, and Instacart list shares

The IPO pipeline closed in 2022, but there’s reason to believe that it may reopen as 2023 gets underway.

Fortune

General Atlantic plans $2 billion investment in India, Southeast Asia

Global private equity firm General Atlantic plans to plough $2 billion into India and Southeast Asia over the next two years after falling valuations made the region's startups more attractive, a senior executive told Reuters.

Reuters

Centene Offloads Two Pharmacy Businesses For $2.8B

Centene Corporation (NYSE:CNC) has agreed to sell Magellan Rx to Prime Therapeutics LLC and PANTHERx Rare to a consortium of The Vistria Group, General Atlantic, and Nautic Partners. Centene expects to receive approximately $2.8 billion in aggregate proceeds from the transactions. Magellan Rx is a comprehensive pharmacy solutions organization with specialty drug management, Medicaid administration, and comprehensive pharmacy…

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