Tech startup Rokt said on Monday it raised its valuation to $2.4 billion in a secondary funding round led by investment firm Square Peg and asset manager Wellington Management, and is planning for an initial public offering encouraged by the e-commerce boom. Growth in e-commerce since the COVID-19 pandemic has led to a demand for marketing software companies such as Rokt. "Despite broader market declines in valuations, we continue to see rapid growth in Rokt, driven by new e-commerce partners and an uplift from advertisers," said Bruce Buchanan, Chief Executive Officer of Rokt.
Singapore's Olam Agri has secured a $2 billion bridge financing facility to support the reorganisation plan of its parent, Olam Group, the grains and animal feed trader said on Monday. Agri-business giant Olam Group announced its reorganisation plan in January 2020 to categorise its products under two operating businesses, with an intention to potentially spin out each unit and list them separately. The 18-month bridge loan facility may also be used for general corporate purposes, Olam Agri said.
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