June's Top Ten:

1. Anduril has had early discussions to raise what would be one of the largest venture capital rounds of the year so far. The company is seeking about $1.5 billion of fresh funds at a valuation of $12.5 billion or more. Founders Fund and Sands Capital are reportedly co-leading the round.
2. Cerebras Systems, a leading player in the AI chip market taking on Nvidia, has reportedly filed for IPO. The IPO is rumored to take place later this year.
3. OpenAI has surpassed $3.4 billion in annualized revenue, having doubled it in the past six months. The news indicates that growth in the ChatGPT developer’s business has continued to accelerate despite competition ramping up.
4. Databricks announced that they are acquiring Tabular, a data storage optimization company. The purchase price is over $1 billion, and the addition should help Databricks bring out more products more quickly.
5. Voodoo acquired the social network BeReal for roughly $530 million this month. The acquisition is notable because it’s a great exit for a company that thrived primarily during the pandemic.
6. Tempus AI debuted on the Nasdaq this past month, jumping 8% on its initial day on the market. As of the time writing this though, the company last closed at $33.34 , roughly 10% below their debut price.
7. Harvey, a generative AI startup focused on legal, tax, and financial matters announced they are targeting a $600 million raise. The raise would push the company’s valuation to over $2 billion, more than double their valuation this past December.
8. SpaceX is planning on selling insider shares at $112 a piece in a tender offer, valuing the company at a record $210 billion. The new valuation is a record for an American private company, but still trails ByteDance’s $268 billion valuation.
9. AppsFlyer, a marketing analytics provider, has tapped bankers for IPO in early 2025. The company has been rumored to be seeking about $300 million.
10. Carta’s woes continue as they are reportedly working with the investment bank Jeffries on a secondary sale that would value the company around $2-4 billion. This is a huge decline from their previous valuation of roughly $7.4 billion in the summer of 2021

Why this matters: IPO news continues to make our Top 10 list. This movement is much needed after a lackluster 2023, and is encouraging to the VC ecosystem as a whole. Public markets have performed well in 2024 thus far, though as we discussed in our multiples section, and the environment is continuing to look good for private companies looking for an exit.

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