DraftKings’ top line grew by 90% in 2020 while generating $844 million in losses. Raising over a billion in debt and looking forward to a stable sports schedule, is DraftKings poised to have a breakout season? Time will tell if DraftKings will be a steal or a bust. [more]
After years of rapid growth, Vendasta plans to list on the TSX. With a market capitalization of around C$700M, the white-label SaaS provider is one of Canada’s leading digital companies, having over 4M registered SMB businesses. [more]
Investors inject cash into Eupraxia Pharmaceuticals during its IPO on the TSX. The funds will be used to support clinical trials of their leading knee osteoarthritis treatment. Eupraxia’s polymer technology promises to flatten the drug-dose curve, providing long-term pain relief (up to 6 months) with fewer side effects. [more]
Bitcoin’s value has doubled in 2021, reaching a market capitalization of more than$1 trillion. New Bitcoin ETFs have emerged and are now worth over $1B with firms, such as Tesla, buying bitcoin stockpiles in preparation for use as payment. [more]
Voxtur operated as iLOOKABOUT until earlier this year when it closed the C$87.6 million acquisition of Voxtur Technologies and renamed the company. Voxtur raised growth capital as it disrupts the residential property appraisals market in North America. Voxtur aims to add value for lenders and tax collectors through digital technologies and a synergistic software suite. [more]
Score Media and Gaming listed on the NASDAQ and raised $162M to fund its foray into sports betting. As an emerging sector, sports betting has almost doubled in value over the past year. The global sports betting market topped $200B billion in 2020 and growing at almost 10% a year. Investment returns could outstrip revenue gains as the fragmented industry consolidates. [more]
Major Canadian and U.S. firms, including Xcel Energy, Home Depots, Magna, RBC, Thomson Reuters, and Walmart, announce dividend increases after strong fourth-quarter results. [more]
After five years under Cerberus Capital Management‘s control, automotive part manufacturer ABC Technologies goes public. Following the offering, Cerberus should retain ~76% of the company. ABC is a pioneer in molding technologies especially in the auto industry. [more]
Propelled by surging eCommerce, Drizly cashes in on shuttered bars with sale to Uber. It is the second major deal in the last year for Uber after buying Postmates for $2.65 billion in 2020. [more]
WELL Health’s buying spree continues with a major acquisition with C$302.5M financing led by Mr. Li Ka-shing. The acquisition will add annual revenue of US$100M with a run-rate of US$120 million to Well Health’s books. CRH currently has an EBITDA operating margin of 40%. [more]
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