Michael Eisner
One of the drivers of the deal was the rise of NFTs and blockchain technology, which have become a growing business in the entertainment and collectibles industry.
Former Disney chief Michael Eisner has found his next deal.
Eisner will take the trading card and collectibles company Topps public through a deal with the Special Purpose Acquisition Company (SPAC) Mudrick Capital Acquisition Corporation II.
Eisner s Tornante company bought Topps in 2007 with Madison Dearborn Partners for $385 million. The deal announced Tuesday values Topps at $1.3 billion. Eisner, who said in a statement that he will not sell any of his shares in Topps after the deal is complete, will stay on as chairman of the public company. Michael Brandstaedter will remain CEO.
Internet initial public offering (IPO) news is coming from all corners: Flipkart, PolicyBazaar, Zomato, Ola, Freshworks, PepperFry, Nykaa and Delhivery are all at various stages of finalising their plans. According to an HSBC Global Research report, more than $60 billion was invested in India’s internet sector in the past five years – around $12 billion of that in 2020 alone. There were 34 unicorns in India as of February, according to research firm Tracxn.
However, there is a bump. Most Indian start-ups are loss-making. Securities and Exchange Board of India (Sebi) rules make it nearly impossible for loss-making companies to list on Indian bourses National Stock Exchange (NSE) and BSE. Also, a set of Indian start-ups are listed in Singapore or held by a holding company there; these cannot list in India.
This Eastertide is not yet as joyful as we all hoped it would be even a few weeks ago, and the past year has been joyless indeed.
The lockdown may be easing, but achingly slowly. However, Easter is a time for reflection as well as celebration, so that gives us a little more time to think about the strange period we have been through and what might come next. This is a financial story and an economic story.
The financial story is quite extraordinary. Viewed from anywhere other than London this is a raging bull market.
The new normal?: This Eastertide is not yet as joyful as we all hoped it would be even a few weeks ago
HAMISH MCRAE: Time to reflect as world reopens dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
Private Equity/Venture Capital firms invested over $11.9 billion (across 188 deals) in the first 3 months of 2021, representing an increase of about 85% compared to the corresponding period in 2020, According to Venture Intelligence data, January to March 2020, the last pre-pandemic quarter, recorded PE-VC investments of $6.5 billion across 238 deals. The value of investments in Q1FY21 was also over 58% higher compared to the immediate previous quarter (which saw $7.5 billion being invested across 231 deals). Deal volumes in the period, however, dipped 21% compared to Q1FY20 and down 19% compared to the previous quarter, the Venture Intelligence data showed. Venture Intelligence said that the appetite for investing in high scale technology startups gathered further momentum in the first quarter of 2021, led by the over $400 million rounds of investments attracted by three unicorns: food delivery focused Zomato, edtech leader Byjus Classes, and e-sports company Dream11.