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Top stories today:
- Truth Social’s revenue in 2023 at $4M, from $1M in 2022
- Tiger raises $2.2B for latest VC fund, below $6B target
- Manufacturing PMI rises to 50.3, 1st expansion since 2022
- BYD EV, hybrid sales +46% YoY to 302K in Mar.
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1,610 P/S (price-to-sales).
Twitter has ~$3B in revenue, 750x more than Truth Social.
Truth’s DJT stock was -21% on the news, taking its valuation to $6.6B
2. Tiger raises $2.2B for latest VC fund, below $6B target, $12.7B prior fund
18 months in market, longer than average for Tiger.
VC portfolio -33% in 2022 and -6% in 2023.
~$50B total AUM.
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