Hypebeast Hitting Wall Street With SPAC Merger

  • 📰 wwd
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 68%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Former Nike Brand president Trevor Edwards will join the combined firm's board as it starts to trade on the Nasdaq.

In its deal with Iron Spark, Hypebeast will receive proceeds of $180 million, giving the company a pro forma equity valuation of $534 million.

Founded in 2005, Hypebeast has more than 26 million followers and logged revenues of at least $112 million for the year ended March 31. From 2015 through 2021, the company saw a compound annual growth rate of 34 percent. Kevin Ma, executive director, chairman and CEO of Hypebeast, said: “For more than 15 years, we’ve been on a mission to share the most authentic aspects of culture all around the globe. We’ve built a loyal and passionate community who trust our curation across diverse lifestyle categories spanning, arts, design, luxury, sports, technology and more. Partnering with Iron Spark and entering the public markets in the U.S. will propel us to the next level.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 24. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former GOP congressman agrees to pay campaign finance finesA former Republican California congressman who was pardoned by former President Donald Trump agreed to pay a campaign finance fee to the Federal Election Commission over the alleged misuse of campaign funds.
Source: dcexaminer - 🏆 6. / 94 Read more »