Nov. 25 (Bloomberg) – British venture-capital investors in recent years have traded the leafy courtyards of Cambridge for the hipster coffee bars and converted warehouses of Shoreditch, a once-gritty East London neighborhood brimming with startups. Now, they’re dusting off their tweed blazers and train passes.
Prince Alwaleed bin Talal, the Saudi billionaire who invested $300 million in Twitter Inc. two years ago, said the company needs to focus on making money after raising $1.82 billion in an initial public offering.
For the last four years, private- equity firms have taken few of their Australian companies public. The main culprit: a lackluster initial public offering by the country’s largest department-store chain that soured investors.
There’s more at stake in Twitter Inc.’s initial public offering than just shares held by employees and investors. The performance will influence how Silicon Valley’s dealmakers value emerging Web startups.
Twitter Inc. was sued for $124 million by two financial firms that claim the Internet company engineered a failed private sale of its shares in 2012 to strengthen its hand in preparation for its initial public offering.
Twitter Inc. top holders including co-founder Evan Williams, whose stake is worth about $1 billion, are keeping their shares as the company goes public, underscoring their confidence in its growth prospects.
Around a dozen companies are planning to list on Australia’s stock exchange by year-end as business confidence surges following a change in the nation’s government, according to Commonwealth Bank of Australia.
SoftBank Corp. took control of Supercell Oy, the Finnish developer of games including “Clash of Clans” and “Hay Day,” in a bid by the carrier to capitalize on booming demand for titles played on mobile phones.