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DST Global

DST Global

A venture capital and private equity firm primarily investing in late-stage internet companies.

DST Global is a venture capital and private equity firm primarily investing in late-stage internet companies that is headquartered in Hong Kong and was founded in 2009 by Yuri Milner. Notable investments made by DST Global include: Facebook, Twitter, AirBnB, Spotify, JD.com, Zalando, and Alibaba.

Controversy

In October 2017 a set of 13.4 million confidential electronic documents were leaked detailing information relating to offshore investments; these documents are known as the 'Paradise Papers'. The Paradise Papers contained information about DST Global which showed connections between DST Global's investments in Twitter and Facebook and the Russian government. In response to concerns about the Russian governments ability to influence Twitter and Facebook during the 2016 U.S. elections through investments made by DST Global, the companies founder, Yuri Milner, and the following statement:

DST Global’s investments in Facebook and Twitter were just two of the more than 30 internet companies around the world that DST Global’s funds have invested in — including Airbnb, Spotify, JD.com, Zalando and Alibaba. Since 2009, DST Global has invested $7 billion in the consumer internet sector, with a majority being invested in non-U.S. companies — and with less than 5% coming from VTB Bank. VTB Bank was the only Russian government institution that invested in any DST Global funds. In addition, all investors in DST Global — including Mr. Usmanov, VTB Bank, and a number of sovereign wealth funds from all over the world — are passive investors. That means they are simply committing funds to be invested by DST Global in companies of DST Global’s choosing, and they have no influence over what companies DST Global chooses to invest in or any other decision-making.

Investments made by DST Global in Twitter and Facebook occurred between 2013 and 2014 following each companies initial public offering.

Timeline

Funded Companies

Company
Description
Industry
Website
Location
Robinhood (company)

Robinhood is a Palo Alto, California-based financial technology company founded in 2013. They offer free stock and equity trading and commission-free crypto-trading.

A bank offering online banking services with no user no bank fees, and an option to receive direct deposit up to two days early. Chris Britt and Ryan King founded Chime in 2013, and the company is headquartered in San Francisco, California.

Twitter is a micro-blogging internet service founded in 2006.

Nubank is a financial technology company based in Brazil issuing, administrating, processing and transfering payments related to post-paid credit cards and equity investments.

Flexport is a licensed freight forwarder and shipping company based in San Francisco, CA, USA. They manage global logistics for businesses.

Udaan is an Indian business-to-business e-commerce company based in Bengalore. It was registered as Hiveloop Technology pvt.ltd. in 2016.

Revolut is a London-based Fintech startup and bank offering mobile banking, card payments, money remittance, and foreign exchange services.

Xiaomi is an electronics company that manufactures and distributes mobile phones and other electronics.

An online marketplace to buy & sell verified authentic sneakers, streetwear, handbags, and watches.

Rappi is a delivery service company operating in Latin American countries.

A company offering a members-only mobile application that rewards users for paying off their credit cards.

Robinhood is a company founded by Dedi Ben-Natan.

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Reza Chowdhury
May 7, 2021
AlleyWatch
The Pulse of New York Tech
Reza Chowdhury
May 6, 2021
AlleyWatch
The Pulse of New York Tech
Samantha Hurst
May 3, 2021
Crowdfund Insider
Click HERE to find out ⭐ Wealthsimple Secures $750 Million Through Latest Investment Round; Now Has Post-Money Valuation of $5 Billion. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Reuters
April 19, 2021
The Hindu
The social media app said the new round of financing was led by Andrew Chen of venture capital firm Andreessen Horowitz with major investors like DST Global, Tiger Global and Elad Gil.
Reza Chowdhury
April 12, 2021
AlleyWatch
The Pulse of New York Tech
Reza Chowdhury
April 5, 2021
AlleyWatch
The Pulse of New York Tech
Reza Chowdhury
April 7, 2021
AlleyWatch
The Pulse of New York Tech
Andrii Degeler
April 6, 2021
Tech.eu
The European startup ecosystem has been showing great growth numbers over the past year, which was well documented by ourselves and other organisations that keep track of the numbers. In the first quarter of this year, however, we also noticed a significant number of startups entering the unicorn territory -- a metric that may be showing [...]
Steve O'Hear
March 10, 2021
TechCrunch
Zego, the insurtech that got its start by offering flexible motorbike insurance for gig economy workers but has since expanded with a range of tech-enabled commercial motor insurance products, has raised $150 million. Leading the London-based company's C round -- giving it a $1.1 billion valuation and a unicorn status -- is DST Global. Other [...]
Steve O'Hear
March 10, 2021
TechCrunch
Zego, the insurtech that got its start by offering flexible motorbike insurance for gig economy workers but has since expanded with a range of tech-enabled commercial motor insurance products, has raised $150 million. Leading the London-based company's C round -- giving it a $1.1 billion valuation and a unicorn status -- is DST Global. Other [...]
Mary Ann Azevedo
February 19, 2021
TechCrunch
Brex is the latest fintech to apply for a bank charter. The fast-growing company, which sells a credit card tailored for startups with Emigrant Bank currently acting as the issuer, announced Friday that it has submitted an application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI) to establish [...]
Callum Burroughs
February 15, 2021
Business Insider
London startup Zego works with drivers at delivery companies like Uber Eats and Deliveroo alongside e-scooter companies like Tier.
Reza Chowdhury
February 5, 2021
AlleyWatch
The Pulse of New York Tech
AlleyWatch
September 27, 2020
AlleyWatch
The Pulse of New York Tech
Peerzada Abrar
August 26, 2020
@bsindia
However, there has been no change in Byjus valuation after this funding
Rita Liao
August 17, 2020
TechCrunch
Coronavirus stay-home orders have sparked an unprecedented demand for grocery delivery around the world. Now investors are clamoring to bet on promising players in the field. That includes DST Global, the investment firm helmed by Israeli-Russian billionaire Yuri Milner. Most recently, it poured $35 million into Weee!, a California-based startup that delivers Asian groceries like [...]
Kirsten Korosec
June 14, 2020
TechCrunch
The Station is a weekly newsletter dedicated to all things transportation. Sign up here -- just click The Station -- to receive it every Saturday in your inbox. Hi friends and first-time readers. Welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to [...]
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