36 Burst results for "IPO"

Fresh update on "ipo" discussed on The Ben Shapiro Show

The Ben Shapiro Show

00:40 min | 6 hrs ago

Fresh update on "ipo" discussed on The Ben Shapiro Show

"Has engaged in self delay I want to give you the chance to rebut that accusation So again, you know the the biggest difference between the trump family and I would say you know a lot of the other politicians is that you know the trump family was a business family they were doing very well financially they were making money my wife Myself Not Laura of our endeavors and the. President we gave those endeavors up and gave up our ability to make money to go and do public service. A lot of other people get into public service and then become wealthy them in their families become wealthy off of that. So you know again, especially, in the first years, there were all these allegations of potential conflicts of interest areas where there could be compromised. But in after four years, nobody's actually found any areas where anything anyone's done anything wrong and so again when we came into government, we looked at for me personally and my wife we looked at We spoke to the ethics lawyers we said you know, tell us what we need to vast. We ended up to vesting all those things my wife had. Clothing Company which was making five hundred million dollars a year in revenue is fast growing company ultimately she gave that upset she could devote herself full-time disturbing serving government and one of the things I joke is that she had a mission driven company that was making money she gave up the company and she was praised for it by all of the the Liberal Media and then she gave the company to just focus on a Mission and then the media turned against her because they saw as a threat in that regard and and so you know I look at all these things and I say that you know it's it's obviously come at a great cost to to myself financially to the trump family to do this service but But we all believe that it's been incredibly worth it. You think about the impact we've able to make so many people. People ask me all the time. You know what? Spin my favorite part about being a government and I always say that the thing that I enjoyed the most is is working on the the clemency issues with the president right where you take you know case and before him and you're able to make a pitch for you know why somebody who has life in prison deserves to be let out and the president will take the time study at analyze it ask probing questions but you have a lot of cases like you know like Alice Johnson where he decides, let me give this person a second chance and you save that person's life and so you. Think about. You know sacrifice that you make, and then you think you're making peace deals that are gonNA keep American troops safer and make you know the Middle East more safe. You think about obviously doing trade deals that are gonNA bring millions of jobs back to America and then you think about doing criminal justice reform that's going to give you know people were hope second chance Kris crimes and communities, and these are just a few small examples of things that we've been able to work on for your few years. So I do believe that. The benefits at the country's receive from having an executive as its leader from having business people you know going through this has been tremendous and I think for you know for. For myself and for for the for the trump family you know we don't feel bad for ourselves. We look at it and say, even though we've been harassed with investigations and an accused of all these things which they didn't do the financial sacrifice and and obviously the the fights that we've had to endure have been well worth it because in life. Every opportunity has a cost and I think that the cost that we've that we've endured to do this is very small relative to the opportunity that we've had to make an impact on. So many different areas of importance that have benefited a lot of people here in America throughout the world I will say that when your wife Shutdown, her clothing company my. Wife was very, very upset about it because she shot their shepherd, the company a lot. So I want to ask you about how your family has dealt with all of the pressure. But I if you're an investor, one thing that's very important being in early on innovative companies don't you wish that you were in early on some of the best performing IPO's of. Twenty Nine, thousand and twenty, twenty, one with our crowd accredited investors have access to invest directly easily and most importantly early, our credit investors have benefited from our crowd companies appealing beyond meat or being bought by other companies like Intel Nike Microsoft, and Oracle are crowd investment professionals, leverage their extensive network review, some of the most promising private companies and startups on the. Planet there indepth diligence includes meeting with management teams and generally comprehensive vetting of deals they decided to make part of their own portfolio. Well,.

Clothing Company President Trump America Liberal Media Middle East Alice Johnson IPO Intel Executive Kris Oracle Microsoft
What Are SPACs and Should You Invest in Them?

Money For the Rest of Us

05:41 min | 4 d ago

What Are SPACs and Should You Invest in Them?

"Now, why do spags exist? A primary reason is the reverse mergers that occur was back with a publicly traded company purchasing a private company is in some ways simpler and easier way for private companies to become publicly traded compared with doing their own initial public offering. One Reason, the appetite for IPO's varies. There are some times where markets are more receptive to IPO's, and that's when a lot of private companies startup companies want to go public. Other Times not so much with a back. It's already public. and. So it's a way for a private company to become public without having to go through the road shows and much of the paperwork and legal hassle of going public. Another reason is often when a startup goes public doesn't initial public offering they lock up period for existing shareholders. It's not necessarily great press for a newly public company to have its founders selling a lot of their shares. With us back, they have the cash already raised and it's easier for founders and other principles of the private company to be able to liquidate more of their shares in the company. The other thing with initial public offering is often times money is left on the table. The underwriters try to price the initial public offering at ten to fifteen percent discount to the fair value of the company. But what that price is very difficult to determine and oftentimes after the initial public offering in the first few hours the IPO jump significantly in price, which means the private company didn't get that money that was money that was trading in the secondary market. It wasn't money that flowed to that private company is part of that public offering. With specs, there's a negotiated price. So the private company knows what they're getting. They know what the valuation is and so they potentially can get more money. How then do specs work? Well specs also need to raise capital so they do an initial public offering. It's usually combined with one common share plus a warrant or a fraction of a warrant, and what a warrant is gives the holder the right to buy more stock at a fixed price at a later date. It's an incentive for SPAC holders to potentially get more shares of the company wants that target is identified. The initial public offering is help for the back and at least eighty, five percent of the proceeds needs to go into an escrow account for future acquisitions. In practice, it's closer to ninety seven percent of the proceeds with three percent held in reserve for underwriting fees for the initial public offering operating expenses for this back to cover due diligence cost legal accounting et CETERA. Most of the money goes into this escrow account, which is then invested in government bonds. So before the acquisition, it's fairly risk free investment. Most of the time, the specs are issued at A. Price of ten dollars per share. In theory, it should stay about ten dollars per share because it's just an escrow account invested in government bonds and shareholders of this they don't know what the potential acquisition target will be. In practice, we're seeing specs sell for more than the IPO price because holders believe the management team of back is going to identify a very attractive company that will be profitable to the SPAC shareholders. So sometimes, they can bid up the price of this back. For example, that back that pershing square bill ackman's company came out with July is trading about twenty percent above its IPO price. The specs sponsors have a specified period to identify a potential target. Typically it's about two years and if they're not able to identify an acquisition and close an acquisition, then the trust is liquidated and the money in escrow account is return his shareholders. If the back sponsors do identify potential target firm, then they make an announcement, it's called the announcement date. Then the back shareholders are notified that there is a potential acquisition target. At that point that's back sponsors perform additional due diligence negotiate a structure of the acquisition. The SEC has to review the terms of the acquisition because the private company will be made public. And then there's a proxy vote for the shareholders of this back and they are deciding to issues. Whether they approve the acquisition or disprove, they don't want to Spec to go forward with it. The. Second thing that they are voting on whether they wanted to liquidate their shares in this back they have an opportunity to get out at the net asset value of the trust, which is the value held in the escrow account divided by the number of shares. Outstanding. If more than fifty percent of the shareholders approved the acquisition and less than twenty percent of the shareholders vote for liquidation. Then the transaction is approved and the target firm is listed on Stock Exchange. If more than fifty percent, approve it but more than twenty percent want their money back. Then this back is also liquidated.

A. Price Spac Bill Ackman Pershing Square SEC
Should Business Follow Data or Gut Feel?

Duct Tape Marketing

04:54 min | 5 d ago

Should Business Follow Data or Gut Feel?

"Hello welcome to another episode of the duct. Tape Marketing Podcast, this is John Jansen, my guest today's Reeves Wiedeman. He is a contributing editor at New York magazine. Also featured in New Yorker New York Times Magazine Rolling Stone Harper's, and we're going to talk about a book that is fairly new called billion dollar loser, the epic rise and spectacular fall of Adam Newman and we work. So reeves welcome to the show. Thanks for having me. So. Why don't you give away the ending for for for people that that may be have followed this story Kinda give us the like. Here's you know here's what was going on at the high level. Here's what happened. Yeah. Fair enough while while a lot of people may know it but but the the the short version of the rise of we work in an office leasing company started in New York City that in the course of a decade expanded all over the world The basic business premise was slicing up large office spaces into small glass. Rent out. By Twenty Nineteen they had more than four hundred locations around the world A also had apartments they had started in elementary school. and a variety of businesses that required a lot of money and so eventually in in thousand nineteen, they decided to go public at of gob smacking forty, seven, billion, dollar valuation and in pretty spectacular fashion over over a few weeks in the summer and fall of last year the. Collapsed out of Newman, the company's founder was was ousted and He's spending most of his time surfing. So you know and the future for him and for the company's still remains to be seen, but it was pretty pretty remarkable rise in in a pretty shocking and swift fall. So the at the from the highest evaluation to like when it all shook out, what did it shed about eighty percent ninety percent You're GonNa make me do some math but you're outright it. It got up to forty seven billion at least in this theoretical way, and and this past spring Softbank, which is, is we were primary investor mark it down to just under three billion, two, point, nine, billion so a. Pretty shocking loss value in a very short amount of time. So. What was it? You did a series of interviews with adamant obviously a lot of other people that show up in the book but what what was kind of the timeline for your interviews because it was really pre crash, right? Yeah. I mean, we when I was I work at New York magazine and we had I decided to do this story at the beginning of Twenty nineteen in the. Reason we did it was was because we work with growing so fast, and because it it suddenly was was everywhere. We have an office in in Soho and in New York and suddenly there were half a dozen of them just a few blocks of where our office was and so we saw it as kind of a success story. We knew there was sort of strange things about the company and. It became very clear to me as I as a after interviewing Adam Newman last April April Twenty nineteen shortly before the IPO was announced. And then talking to people who'd worked with him some members of his executive team that everything that was good and bad about we work revolved around Adam Newman. He he was the visionary. He was the sort of branding expert and he was the. That, was driving company, and then as it became clear, he was also kind of embodied a lot of a lot of what what went wrong. So my only instance as I did work out of we work in Dumbo one time. A few years. Was it nice. Yeah. It was nice. It was like all the kind of. HIP places in that part of town. Are. Very minimal decor. So. It's interesting. You brought up that idea of all good things and bad things because in reading through the book you almost. And and maybe other people. Have covered it this way to that it wouldn't have happened with him and it wouldn't have crashed with with him without him. I think that's exactly right and that's when when we wrote my first story and this was when the company was still on the rise we. I didn't come up with this but but the title one of my bosses did was with the I and we and and and you know it's just everything about this company. was. Just, CER- wrapped up in in in Adams great qualities which which company grow and then things kind of centered off off the rails.

Adam Newman New York Magazine New Yorker New York Times Maga New York City Reeves Contributing Editor John Jansen Softbank CER Dumbo Founder Soho Adams Executive
Should Business Follow Data or Gut Feel?

Duct Tape Marketing

04:54 min | 5 d ago

Should Business Follow Data or Gut Feel?

"Hello welcome to another episode of the duct. Tape Marketing Podcast, this is John Jansen, my guest today's Reeves Wiedeman. He is a contributing editor at New York magazine. Also featured in New Yorker New York Times Magazine Rolling Stone Harper's, and we're going to talk about a book that is fairly new called billion dollar loser, the epic rise and spectacular fall of Adam Newman and we work. So reeves welcome to the show. Thanks for having me. So. Why don't you give away the ending for for for people that that may be have followed this story Kinda give us the like. Here's you know here's what was going on at the high level. Here's what happened. Yeah. Fair enough while while a lot of people may know it but but the the the short version of the rise of we work in an office leasing company started in New York City that in the course of a decade expanded all over the world The basic business premise was slicing up large office spaces into small glass. Rent out. By Twenty Nineteen they had more than four hundred locations around the world A also had apartments they had started in elementary school. and a variety of businesses that required a lot of money and so eventually in in thousand nineteen, they decided to go public at of gob smacking forty, seven, billion, dollar valuation and in pretty spectacular fashion over over a few weeks in the summer and fall of last year the. Collapsed out of Newman, the company's founder was was ousted and He's spending most of his time surfing. So you know and the future for him and for the company's still remains to be seen, but it was pretty pretty remarkable rise in in a pretty shocking and swift fall. So the at the from the highest evaluation to like when it all shook out, what did it shed about eighty percent ninety percent You're GonNa make me do some math but you're outright it. It got up to forty seven billion at least in this theoretical way, and and this past spring Softbank, which is, is we were primary investor mark it down to just under three billion, two, point, nine, billion so a. Pretty shocking loss value in a very short amount of time. So. What was it? You did a series of interviews with adamant obviously a lot of other people that show up in the book but what what was kind of the timeline for your interviews because it was really pre crash, right? Yeah. I mean, we when I was I work at New York magazine and we had I decided to do this story at the beginning of Twenty nineteen in the. Reason we did it was was because we work with growing so fast, and because it it suddenly was was everywhere. We have an office in in Soho and in New York and suddenly there were half a dozen of them just a few blocks of where our office was and so we saw it as kind of a success story. We knew there was sort of strange things about the company and. It became very clear to me as I as a after interviewing Adam Newman last April April Twenty nineteen shortly before the IPO was announced. And then talking to people who'd worked with him some members of his executive team that everything that was good and bad about we work revolved around Adam Newman. He he was the visionary. He was the sort of branding expert and he was the. That, was driving company, and then as it became clear, he was also kind of embodied a lot of a lot of what what went wrong. So my only instance as I did work out of we work in Dumbo one time. A few years. Was it nice. Yeah. It was nice. It was like all the kind of. HIP places in that part of town. Are. Very minimal decor. So. It's interesting. You brought up that idea of all good things and bad things because in reading through the book you almost. And and maybe other people. Have covered it this way to that it wouldn't have happened with him and it wouldn't have crashed with with him without him. I think that's exactly right and that's when when we wrote my first story and this was when the company was still on the rise we. I didn't come up with this but but the title one of my bosses did was with the I and we and and and you know it's just everything about this company. was. Just, CER- wrapped up in in in Adams great qualities which which company grow and then things kind of centered off off the rails.

Adam Newman New York Magazine New Yorker New York Times Maga New York City Reeves Contributing Editor John Jansen Softbank CER Dumbo Founder Soho Adams Executive
Being Customer Driven With Data-Driven Marketing

Marketing Trends

07:32 min | Last week

Being Customer Driven With Data-Driven Marketing

"Welcome to marketing trends I mean phase on host of marketing trends, and today we are joined by special guests Marty. How are you? I'm good I. Doing it is great to have you. I'm really excited to talk to you today. Obviously, we love salesforce and and you're the amazing sponsor the show. But beyond that you've been doing some amazing work. You're writing a book that's going to be out soon, called customer driven, and we're GONNA talk a lot about data, which is at the at the top of mind for every marketer. Before we get into all that, how did you get started marketing? That's a good question. I've had a very strange career in I have a hard time explaining it to my mother. But when I look back realized started wanting to be a journalist New York and ninety s writing for magazines back when there were magazines and it seemed like a viable career and I ended up at MTV networks on a show called video. And wrote the little bubbles blurbs, which is the the peak of my journalists experience, and then after that I went into to business school, I wanted to management consultant probably the only person at the time we want to be one and I thought it would be glamorous and sexy to be a media consultant and then the dot com bomb happened two thousand and one, and so I ended up over. Counter the healthcare over over the counter healthcare consulting, which is just what it sounds like and then I ended up at an AD agency doing direct marketing and measurement, and that was kind of the beginning of my marketing advertising career and it was through consulting. It was sort of it was strategic engagements and the career was actually called measurement. I pick all these glamorous wants the measurement was basically impact. of Ad campaigns and it was dumb you know digital campaigns how did they do look at search and display and so on and I was in that field for about ten years and then I, went to garner as an industry analyst covering advertising technology and marketing technology and measurements. Still now, it will be called data science. By the way, I would get a retroactive promotion and then I joined salesforce. About two years ago. So it's always been on the MARCECA and an analytic side in interestingly enough in the beginning that was not the sexy part of marketing and now it is, of course, if you're the the data scientists on the campaign, you're the coolest person there but it was the exact opposite twenty years ago. So I've I've written the wave up. Yeah. The closest closest person to to proof. Of, being ends up being the most valuable person room I do I'm Gonna I'm GonNa follow up on the pop up video stuff because I'm endlessly fascinated in that but flash forward to today. What does it mean to Espn Strategy for Marketing Cloud salesforce? It's. It's an interesting job at spans product management product marketing, and with the flavor of thought leadership I think when I was hired, which was two years ago it was around a specific problem it was and it was into the product organization. Software companies are structured with pretty defined role. So you're in either in product management, which is sort of halfway between engineering and marketing or your product marketing, which is what it sounds like you're in sales or you're an engineer so there for basic rules and this is close. To, product management and the question was around the customer data platform category CD, which was the hottest and is probably still the hottest category and March tack that's come along in a long time since two thousand and sixteen. It's just been hyped out of out of control kind of like insider hype. If you're in the business, you know what I'm talking about. If you're outside, you'd be like what? What's a CD, but it's it's a big deal and the question at salesforce was do we have one? Should we acquire? It was billed by require that kind of thing, and they needed someone from the outside who wasn't sort of inside the the salesforce system having come as a as an analyst industry analyst who knew the industry and a new kind of outsider perspective to say it what is what I need to Dan I knew coming in that we needed to build queries harder than it looks to build something, and that's what we've done. In fact we're launching that in next month version wants it's a tremendously major effort on. As, part to pivot engineers and to develop this net new product customer three sixty audiences, which is a CPA and in fact, the topic of our book customer driven I, wrote it with my colleague Chris O'hara to give him full credit, the multi-talented era he and I wrote this book about Customer Data Platforms it's not about salesforce, but it is about this category, which is fascinating. Yeah I mean. Will we've seen you name it start-up getting snatched up data startups getting snatched up right and left being acquired. Just recently had some massive. IPO's around data companies. I mean, clearly, data is where it's not the new oil and it's not the new oil because that phrase literally never made sense but. But it is the lifeline of every marketer, and if you don't have an extremely strong philosophy and data, you're probably going to be left really far behind, which is pretty counter to the days of marketers creating you know add copying doing some of the things you were doing earlier in your career specifically around ad agencies and things like that I. mean you know going from that agency or from agency to to analyst to here on curious like what is that evolution been like for you? It's I mean, it's it's Bi modal. It's by modal is even to saying that kind of makes me a nerd, but it's a left brain right brain and and it's definitely I do this presentation sometimes say. How has marketing changed over the past twenty years as as a discipline and I remember when I was in business school as I said is right before the DOT com Bob's of two, thousand, two, thousand and one in Colombia and you could tell the people are interested in marketing back. Then just by looking at them, they were like slightly better looking. You know they dress better and they were you know I wouldn't say the social skills were definitely better. They were less interested in making money march sin hanging around with celebrities and I. I mean I'm being reductive in a way. I was one of them. So I can say this, but it was definitely a kind of a branch of show business. And today it really isn't. I mean that part hasn't gone away obviously of influencers, the celebrities if fonts and all that stuff but it's a lot less around the big campaigns and what we might call the softer side of marketing, and it's a lot more about the the foundational data layer and you have to be able to talk today to scientists give them credible instructions and you have to be able to understand things like statistical significance that marketers didn't have to worry about in the past. So I think it's it's a profession that has really Shifted, but it hasn't really shed what it was the past. So it's it's that it makes it interesting, but it also makes it very difficult to succeed in as a CMO. You see a CMO tenures being very short and it's because they have to be a statistician and an artist, and there aren't that many people could do both. So you know it's the long way round for. Saying that my background is is strangely appropriate because I was like in TV and then I was in business school, and so if you have those two elements I, think you can negotiate this strange new world It's moving more towards the data side than the graveside I would say, but we might we might see swing

Salesforce Analyst Engineer Consultant New York Marty Mtv Networks Marceca Espn Dan I Colombia Chris O'hara Advertising Technology
BTS Frenzy Drives Hit K-Pop IPO

Rover's Morning Glory

01:14 min | Last week

BTS Frenzy Drives Hit K-Pop IPO

"Of money the seven boys of K pop sensations bt s while we were sleeping they each make sixteen million dollars before you up this morning. Agency big hit entertainment became a publicly traded company on the South Korean stock market. And in Seoul. Its first day of trading big hit shares reached two, hundred, thirty, six dollars. So fans tried to buy a share as a piece of them reveal Lia bts earns ninety percent of big hits revenue. Sexy. You buy in this stock me. Yes. You see anything in the news you by now but I do think that there's a part of seeing new stories in jumping ahead. A Long. Term Investment. I mean. The problem is what happens does management group when BTS BREAKS UP? The or no one likes him anymore as is pretty much inevitable with most south musical groups pumped up drop it. Did you buy some? No. They're pumping out hits. It's Not, a buy. Rubbers money.

Lia Bts Hit Entertainment Seoul
Pandemic Economy is Making Revenues a Lot Better for Better.com

Business Wars Daily

03:39 min | 3 weeks ago

Pandemic Economy is Making Revenues a Lot Better for Better.com

"Linked in just named better dot com number one on its list of top fifty startups, which means they're hiring like mad. The company is the sleeper success of the mortgage world. Undoubtedly, you've heard of its huge rival quicken loans, the largest mortgage lender in the US, but despite the eight billion dollars in loans, better dot com issued. Since March, you may not be familiar with the four year old company founder and CEO this. Shaw Garg tells a classic origin story in two, thousand, thirteen he and his wife were shopping for an apartment in New York City finding the right place at the right price was hard enough. Then they applied for a mortgage it was so much harder than it should be like horrendously bad guard told linked in writer Devon boundary. Their mortgage processor was so slow that they lost the apartment and get this. They weren't exactly slouches when it came to understanding Finance Guard was professionally managing billions of dollars in mortgage backed securities in his wife was a banker as battery reported guard thought if it's so bad for us, we'll how bad is it for everybody else? That's when he decided to start his own mortgage company one that would do things better. BETTER DOT COM launched publicly in two thousand sixteen like quicken loans better is an online firm that allows customers to apply for a mortgage and complete the entire process without speaking to a human being. Choose for the most part algorithms decide whether you get that loan or not, and what it will cost better. Dot Com sells the loans to institutional lenders a common mortgage industry practice. The big piece that guard changed industry-wide loan officers operate on a commission not. So at better, the company says its model freeze it up to match the right loan with a customer rather than incentivizing staffers to sell you the most expensive they can in addition customers say that commission fees as well as some other fees that guard wrung out of the process once launched better dot com did fairly well given the scads of competition out there, but it's the pandemic economy that. Shot better to prominence not to mention made it profitable as we've reported here before refinancings hit record highs after the federal. Reserve, dropped its interest rate to zero in March in an effort to save the sputtering economy additionally social distancing made online mortgages far more appealing to customers who previously may have walked into a bank or at least met with mortgage broker over coffee. The bottom line revenues were about one hundred, million dollars. Last year this year better expects to take in eight hundred million dollars in revenues. A newsletter called the information reported. The information also reported that better is trying to raise another one hundred million dollars in advance of a possible IPO. If it succeeds, the company will be valued at about four billion dollars. That's an insane amount of money for someone who used his apartment down payment to fund his business launch. That's right and his wife never bought that New York apartment. We're betting that they're glad they didn't, but and there's always a but right as high flying is this startup is it's a mosquito on the back of quicken loans and rocket mortgage both owned by the rocket companies together those two companies earned almost six and a half billion dollars in revenue just in the first half of this year both are household names unlike their smaller rival rocket companies went public in August in what the information says was the second largest IPO of the year, it rocketed to almost two billion dollars. With the economy faltering again though rocket share prices down ten dollars from its high of thirty dollars at the end of last month questions abound about how long the housing boom will last.

Finance Guard United States Shaw Garg Company Founder Devon Boundary New York City New York Writer CEO
A tale of two direct listings

Equity

11:11 min | 3 weeks ago

A tale of two direct listings

"Hello, and welcome to equity shot are quick hit on breaking news I'm Natasha Mascarenas and today joining me to talk about a tale of not one. But two direct listings on the same Damn Day is Danny Creighton. How are you Danny doing? All right this is exciting. You know we went from a world of no direct listings to an occasional direct listening to multiple direct listings in the same day. So it's an exciting exciting morning. We can finally stop breaking up spotify in slack whenever we say the L word and reinvention Asana, and pollen tear, which are the two news heads we got today it's zoo of curiosities. But lots of great stuff to talk about where where do you WanNa start you WANNA. Start with Asana or palate here. What's more interesting to you I think I have to start with pollen tear and my big question is you've been tracking it through every. You know crazy filing, your high level thought was this a successful debut on the Stock Market for? Today I think it's a definitely a success. You know the stock from January two, thousand, nineteen onwards trading at around five to five, fifty, a share, and then in the last two or three months that price jumped to about nine dollars and sixteen cents as of September first, and so you know when when the reference price came out yesterday from the New York Stock. Exchange which was quoted at seven dollars and twenty five cents. A lot of people were like, wow, that's like a significant drop from nine sixteen like what happened particularly also last week we had the Wall Street Journal reporting they were looking for a ten dollar referenced price. You know none of those numbers were really good but look it's trading. Now it's live as we're. Doing the show, it's ten dollars and sixty one cents a share I'm. So it's better than all the numbers we heard before and it's up fifty percent on day one. So so part of me feels like this reference value was actually chosen precisely to give it a pop on day one you know if they were targeting ten bucks on Day One, this is sort of what they got and so a little bit of a lower reference price might have given them a little bit more of A. Psychological boost on on day one. So I, I think overall to success. Do you. Can you talk me a little bit about how we're trying to value the company right now I feel like I'm seeing a bunch of different numbers out there. Do we have an understanding of its fully diluted market value? We do there's still a little bit abate mostly because Peletier gives multiple numbers for the number of care. So it gives us one point six, billion shares outstanding two point one fully diluted two point one billion fully diluted than two point five billion fully fully fully diluted and so. I would say that its current share price, we would call it around twenty, four, billion in evaluation, which is an uptick from its its last rounds. Again at you know for a seventeen year old company to have the sort of strong debut on Wall Street I think it's pretty good. All things considered. Okay. Cool. I'll put a pin in Pailin tear, but I do want to talk about their lock-up period later, run me through Asana numbers I. saw it opened at a five point two billion value. Yes it's on a similar story. So yesterday, The New York Stock Exchange released a reference value of twenty one bucks per share. It zoomed straight out onto the public market. So it debuted, it's currently sitting at twenty eight dollars a share up thirty three percent on day one so far it's up to about I. Think it peaked at five point, two billion, and as of now is more like three point five, three point seven, five, billion market CAP. But again, that's actually significantly higher than his last valuation, which was an inlet late twenty, eighteen around one and A. Half billion dollars so either oke across the board I think both of these issues you know there's always a lot of risk drake listings. As you pointed out Natasha there haven't been that many is this sort of a novel mechanism. They're still a little bit unclear and exactly how they work, and so it's great to see again similar to slack spotify you know these are two enterprise. Companies to again totally different from the more consumer is random companies particularly spotify, which has tens of millions of consumers who might be retail investors buying into the stock. Most people haven't used the Sauna and certainly must people haven't used Pailin tear and so to see the kind of strength on the markets and the first day is is enticing for other companies considering the direct listing model. Right There I feel like pollen tears total customer base was what one? Hundred Fifty, company, hundred, twenty-five customers. That's a lot of customers Doing Gospel distanced. Something it's probably my favorite statistic about the company and I think I saw Dan Prime tweeting the other day that you know it's no longer going to be a secret of company. So we can stop calling it as such. This is the end of that right that confrontation about pollen tear for. So long we've been having well I, I will say. This about an hour ago. So may not be true today. A ASANA has an investor relations page like a standard like every company who publicly trades Peletier does not like it actually does not have as as of an hour ago that I looked up I could not find an investor relations page for here, which which tells you everything you need to know about the company I, feel like that is like in a beautiful one sentence or describes his relationship with investors, but but I think you're absolutely right you. Know despite the fact that only one, hundred, twenty, five customers despite the fact that took seventeen years three hundred grew it's growing from seven hundred, forty, three, million in revenue last year in fiscal year twenty, nineteen, it gave a revenue projection for twenty twenty about one point, five, billion to it's a growth company. It's SAS more and more SAS today than it was in the past where it was more services driven. So again, it's a positive story despite all the kerfuffle around its governance the last couple weeks do you Do you feel like the direct listing method might now take on more popularity. I. Mean. Maybe in some way, but can we even is? Is it enough of a success? You'd think that other companies might follow suit now that it's not just spotify that that did this. I think the more the merrier right I think Palentinian particular raised capital round back in. July right which was sort of what I was told from some insiders essentially the IPO that was the IPO and then direct listings just the actual market exchange. So I think we're GONNA see more companies taking this approach of bifurcating the capital, raise the float that you would normally do a IPO and just the actual just GonNa Start. Trading today and you know I think that that allows you more time to create the right narrative the right story of and also separates what is a a pretty intense kind of crisis driven process the road show getting the company ready the SEC filings separating out at out you don't put all your eggs in one basket. You can do it in stages and I think more and more companies undertake that approach going forward. My question to is and I'm sure our listeners are curious is with all direct listings. There's no shares offered by the company when the when it debuts and so when we see these prices I, guess how much of them are they vanity metrics much of their HABITA- goals, how important are they for us to care about and think about? I wanted to be precise. So there are no new shares offered by the company. So there's no dilutive in an IPO generally have fifteen, maybe twenty percent new shares offered to the public. There are no new shares but many of the insiders have to pay taxes capital gains they actually do have to sell shares. So you know so far this morning already thirty five, million shares of have already been traded and We have on Pailin tear thirty, two, hundred, and thirty million. Shares sold today, right? So already, there's a market, there's clearly tens of millions of shares being sold. So these prices are real or Israel as any other IPO in which people are you know figuring out what's going to happen? You know the next checkpoint for both of these companies is gonNA come in a couple of weeks when they report their next quarterly earnings and I think by then you'll start to see the analysts get comfortable the companies understand the next steps and what's happening after. And you're speaking with Dustin Moskovitz later today the founder of Asana. So any questions on that? You can kind of tease out right now. Well, I was told. The pure folks. About our stock imagery because apparently no longer has sideburns to. Join, the Line of people that complain but it's like you know there's the old line about taking a haircut. Up Thirty, five percents of they actually gained hair on the market today speak. Clearly. sideburns maybe somewhere else. But? No I. THINK WE'RE GONNA be really interested because some unique company in which its founders, Dustin Moskovitz who Justin Rosenstein, who both met each other at facebook actually majority of the company outright right. We just never see or very rarely see tech companies where the founding to CEO's and and COO own like outright majority like not just a majority of the voting because of class, a class B shares but they just outright own about thirty two percent of the company I believe doesn't owns thirty six. Percent of the company outright and just knowns around sixteen point, one percent and so to me like I'm just curious because it's just a different path for a company it was a slower growth company capital much more efficiently grew much more methodically and the founders sort of maintained ownership over time in a way that most other founders do not think the other. The other thing to put out here is Asana has no lockup though the similar to spotify Ed to black as listing all the shares are available for trade to anyone. Who any insider anyone who owns a share of on this morning can put it on the market and sell it Here is the complete opposite pallares pioneering this new kind of fusion of the IPO and the direct listing one would argue maybe the worst of both of those processes but actually a direct listing with a lockup and so only roughly twenty eight to twenty nine percent of pollen. Tear shares are even available for sale at all with the rest in lockup and market standoff agreements that will expire over. The next calendar year. So you know there's a lot more to wait on right. There's not as much liquidity with Pallares could actually harm the stock price. They might be a little bit inflated right now because there's limited number of shares available for trade, we'll have to watch and see but again, it'll be interesting to see if other companies start to do a directing the lockup because clearly Palin tear has not suffered tremendously using this model. So again, another tool in the tool chest and uber do something similar with lock-up period. mean. They did like all IPO's. Underwriter from a bank, they have lockups in place mostly to make sure that there's not a mass rush to the exit. They don't want hundreds of millions of shares at any price willing to be sold. They WANNA, kinda manager coming out because they're putting oftentimes their own money up through the green shoe at stake, and so again, that's what made direct listings unique is that there wasn't this lockup employees are free to do on day one through whatever they don't have to wait six months as is customary. So again, we'll see kind of where the the system lies in the future. As you know, the New York Stock Exchange also got approval to do a direct. Listening with a capital fundraise so we've gone from this world of like there's an IPO and that's the only way to go public to. You can do a direct listing, a direct listening with a lockup, a direct listening without lockup address listening lock-up in a capital fundraise like you can do anything you want. You know it's it's the it's the Netflix of going public. So to speak I, see the headline now airbnb goes public through a through a pollen tear style direct listing. It's just going to happen and it's going to be horrible but we will be back here to talk about it as always every shareholder gets a free party house for one night so. That'll be the new innovation going on there, but but that's a sonnet that is Pelham Tear Ford they an and we'll have more to come in the next week.

Spotify Natasha Mascarenas Pailin Dustin Moskovitz Danny Creighton Founder New York Stock Wall Street Journal Airbnb Peletier SEC Dan Prime New York
ByteDance Says It Won. Trump Says Not So Fast. TikTok Continues For Now.

Techmeme Ride Home

05:04 min | Last month

ByteDance Says It Won. Trump Says Not So Fast. TikTok Continues For Now.

"Okay, here's what I can tell you. You can still use tiktok as of this moment president trump since we last spoke said he approved Oracle's bid for the US. Operations of tiktok quote in concept, and so essentially the US delayed the planned tick tock band by about a week as Oracle Walmart looked to take a twenty percent stake in Tiktok globals planned pre IPO round as well as of course, the deals to host talks us user data and computer systems quoting Bloomberg I approve the deal and concept trump told reporters Saturday as he left the White House for a campaign rally in Fayetteville north. Carolina if they get. It done. That's great. If they don't, that's okay too and quote the new company which will be called tiktok global has agreed to funnel five billion dollars in new tax dollars to the US and set up a new education fund which trump said would satisfy his demand that the government receive a payment from the deal quote they're going to be setting up a very large fund. He said that's their contribution that I've been asking for an quote Oracle plans to take a twelve point, five percent stake in the new tiktok level. While Walmart said, it has tentatively agreed to by seven point, five percent of the entity. Walmart's. Officer Doug Macmillan will serve on tiktok global's board of directors. The retailer said in a statement for of the five board seats will be filled by Americans according to the statement tic TACs. Owner Bite dance is seeking evaluation of sixty billion dollars for the APP, according to a person familiar with the matter Oracle and Walmart would pay a combined twelve billion dollars for their stakes. If they agreed to that asking price, the final valuation has not been set as the party's worked out the equity structure and measures data security. The person said terms are still in flux and the proposed valuation could still change and quote. Yet more about that flex in a second but more about that five billion dollar payment to the government. The president mentioned I. Guess That's the key money by another name that he was asking for all along except that seems to have come as news to at least most of the parties involved Oracle later confirmed it to a degree but quoting Dan primack on twitter. More about tiktok quote Payments Number One the Education Fund is not to fun trump's patriotic history project number two, the five billion dollar figure is not codified anywhere and no one expects it to be anywhere near that big number three, the five billion dollars to the Treasury is anticipated payroll taxes over an unspecified period. Of Time, there will be an education focused effort using tick tock short video format distribution tool, but there is no dollar amount tied to it with trump seeming to inflate the payroll tax figure with the Education Fund remember Tick Tock doesn't have five billion dollars at least not until its IPO wants to complete within twelve months and quote. So. Again has this all been Kabuki theatre make the president think he's getting his key money. Give a politically connected firm, a sweetheart deal, and even if the five billion dollars is really not going to be five billion dollars again, we have the president of the government forcing the investment of private property, giving it to favourite entity and essentially asking for a kickback exactly. What happens in Banana Republics Super? Oh and about that whole thing being inflex bite dance. This morning was asserting that it is maintaining majority ownership and control over tick tock global and will not transfer any source code or technology to Oracle or Walmart so essentially waving a flag saying they won. Quoting the Financial Times bite that set on money that it would maintain majority ownership and control of tiktok global contradicting statements by Donald trump oracle, and Walmart after it agreed a deal with the companies to continue operating in the US Oracle, the US technology group, and Walmart, the world's biggest bricks and mortar retailer said in a joint statement at the weekend that Tiktok level would be majority owned by American investors and quote however while they're state combined with the equity held by. Long standing US investors by dance might mean, American investors would be the biggest financial beneficiaries, direct majority ownership and control of the business is set to remain with the Chinese company in a statement released on January tat chow by dances Chinese social media platform. The company said tiktok global would be a quote one, hundred percent fully owned subsidiary. The company added that after raising funds ahead of a potential initial public offering, it would have an eighty percent stake in the company and quote. So maybe that wasn't a good thing to go spouting off about because this either means now the deal is really off. Because the Chinese side really doesn't want it or else the deal is off because the president isn't going to be pleased about that more in just one second or else everyone is just GonNa declare victory and. Meaningful has actually changed my money's on that but hard to tell at this point because to conclude. About thirty minutes ago. President trump. said, he would not approve a tick tock deal bite dance ceded control, and well I don't know.

Oracle Walmart Walmart President Trump Tiktok Global United States Donald Trump Carolina Education Fund White House Bloomberg Fayetteville North Treasury Tiktok Twitter Doug Macmillan Officer Dan Primack
Trump And The TikTok Deal: What You Need To Know

Equity

02:08 min | Last month

Trump And The TikTok Deal: What You Need To Know

"What happened over the weekend? Well, as you probably knew that tick Tock Circus has continued the latest drama surrounding what is actually in the Tiktok by dance Walmart Oracle deal that will see the creation of a US based company associated with Tiktok operations. Some issues that were in contention over the last couple of days included who retain control of the new based company. Would it go public and what was that a five billion dollar payout? All about well, luckily for US tech roaches read allows put together a piece that. is fantastic and goes over the core things. What I have done is steal from it the key important bits. So I'm going to read to you bits of Rita's post to catch you and I both up to where things are as this morning. Of course, by this afternoon who knows okay by dance is still the owner China's bite dance confirms it will retain an eighty percent stake in. TIKTOK. After a total of twenty percent to Oracle, it's trusted technology partner and Walmart it's Commercial Partner Tiktok seeks US IPO tiktok confirms. An initial public offering in the US in an effort to quote further enhance corporate governance and transparency. No algorithms transfer in line the previous reports. Be Hanging over tick ducks, algorithms, or technologies to Oracle. Instead, the American database giant will gain the authority to perform security checks on quote tiktok. US source codes five billion in tax dollars by dance estimates that Tiktok will be a total of five billion in income tax and other tax dollars incurred in the US to the US Treasury in the coming years nonetheless, the final figure is contingent on tiktok quote actual performance and the US tax structure. The parent company said stressing that the tax money had nothing to do with the ongoing deal hot this. Appears to be this figure this five billion number to where the trump administration got. The idea that somehow dance was going to pay the US government five, billion dollars by dance vehemently disagrees, and now we're in bit of muddle. The question is will the I dunno situation which I'm sure the trump admin will view as a slight enough to upend the US side of the transaction I don't think so but you know it's twenty twenty who

United States Tiktok Us Treasury Walmart Oracle Partner Rita Twenty Twenty
TikTok and WeChat: US to ban app downloads in 48 hours

Techmeme Ride Home

03:18 min | Last month

TikTok and WeChat: US to ban app downloads in 48 hours

"This morning the Commerce Department announced that it will ban US downloads of and business transactions with Tik Tok and we chat on Sunday. So are these stories don now probably not even close quoting CNBC, the announcement comes ahead of an expected statement Friday by President Donald Trump on whether or not the government will approve a deal for Oracle to take minority stake and TIKTOK and become a trusted technology partner for the company in the US. It's unclear if the Commerce Department's announcement means there's no possibility of a deal going through. Before this Sunday deadline, it could be an aggressive move from the trump administration to push for its original intention to force Tiktok to become fully owned by a US company. The Commerce statement said that starting Sunday US companies will be banned from distributing we chat tiktok meaning the two major mobile APP stores run by apple and Google will have to remove the APPS from their libraries. The statement also blocks US companies from providing services through we chat quote for the purpose of transferring funds or processing payments within the US and quote. But. The announcement also lays out a separate timeframe specific to tiktok giving it until November twelfth to resolve the US national security concerns the rules that start November twelfth include provisions that block US companies from providing Internet hosting and services. For TIKTOK, this could be directed at the deal being negotiated between TIKTOK and Oracle which would provide cloud services for TIC TAC if trump approves and could give Tiktok and Oracle more time to hammer out a deal that will. Satisfy the president in an interview with Fox business on Friday Commerce Secretary Wilbur Ross said, the bands will affect Tiktok and we chat differently at first. He said Tiktok will still function, but users will not be able to upgrade the APP. It's still unclear what kind of functionality we chat will have in the US after Sunday but it's unclear whether or not TIKTOK will still be allowed in mobile APP stores but not allowed to provide updates to users and quote. Not The date of that extended tiktok deadline November twelfth certainly that gives all sides more time to negotiate a deal. But as Peter Kafka pointed out on twitter, we chat enormously popular with Chinese Americans owned by a Chinese company will be crippled by the US on Sunday night TIKTOK enormously popular with Americans including some trump voters owned by a Chinese company trying to do a deal with trump's supporters it will be okay through election day and quote. More headlines and rumors have been bouncing around over the last twelve to twenty-four hours bite dances apparently planning on a US IPO for whatever new business is carved out if it's allowed to be carved out. An agreement has been hammered out between dance and Oracle that includes the creation of an oversight board approved by the US government and a continuous third party audit, and finally most juicy sources are telling the New York Times that instagram founder Kevin System, has had preliminary talks about becoming tick tock new CEO if tech talk is allowed to continue as Josh. Bernstein. tweeted INSTAGRAM's Kevin System. Becoming Tick CEO and crushing reels would be the ultimate revenge for Zuckerberg stripping his autonomy. So Spicy and quote.

United States Tiktok Donald Trump Oracle Commerce Department Us Government President Trump Tik Tok Cnbc Wilbur Ross Partner CEO Kevin System Instagram Apple New York Times Twitter Google
WeChat Officially Banned On Sunday. TikTok Only Kinda Banned.

Techmeme Ride Home

03:18 min | Last month

WeChat Officially Banned On Sunday. TikTok Only Kinda Banned.

"This morning the Commerce Department announced that it will ban US downloads of and business transactions with Tik Tok and we chat on Sunday. So are these stories don now probably not even close quoting CNBC, the announcement comes ahead of an expected statement Friday by President Donald Trump on whether or not the government will approve a deal for Oracle to take minority stake and TIKTOK and become a trusted technology partner for the company in the US. It's unclear if the Commerce Department's announcement means there's no possibility of a deal going through. Before this Sunday deadline, it could be an aggressive move from the trump administration to push for its original intention to force Tiktok to become fully owned by a US company. The Commerce statement said that starting Sunday US companies will be banned from distributing we chat tiktok meaning the two major mobile APP stores run by apple and Google will have to remove the APPS from their libraries. The statement also blocks US companies from providing services through we chat quote for the purpose of transferring funds or processing payments within the US and quote. But. The announcement also lays out a separate timeframe specific to tiktok giving it until November twelfth to resolve the US national security concerns the rules that start November twelfth include provisions that block US companies from providing Internet hosting and services. For TIKTOK, this could be directed at the deal being negotiated between TIKTOK and Oracle which would provide cloud services for TIC TAC if trump approves and could give Tiktok and Oracle more time to hammer out a deal that will. Satisfy the president in an interview with Fox business on Friday Commerce Secretary Wilbur Ross said, the bands will affect Tiktok and we chat differently at first. He said Tiktok will still function, but users will not be able to upgrade the APP. It's still unclear what kind of functionality we chat will have in the US after Sunday but it's unclear whether or not TIKTOK will still be allowed in mobile APP stores but not allowed to provide updates to users and quote. Not The date of that extended tiktok deadline November twelfth certainly that gives all sides more time to negotiate a deal. But as Peter Kafka pointed out on twitter, we chat enormously popular with Chinese Americans owned by a Chinese company will be crippled by the US on Sunday night TIKTOK enormously popular with Americans including some trump voters owned by a Chinese company trying to do a deal with trump's supporters it will be okay through election day and quote. More headlines and rumors have been bouncing around over the last twelve to twenty-four hours bite dances apparently planning on a US IPO for whatever new business is carved out if it's allowed to be carved out. An agreement has been hammered out between dance and Oracle that includes the creation of an oversight board approved by the US government and a continuous third party audit, and finally most juicy sources are telling the New York Times that instagram founder Kevin System, has had preliminary talks about becoming tick tock new CEO if tech talk is allowed to continue as Josh. Bernstein. tweeted INSTAGRAM's Kevin System. Becoming Tick CEO and crushing reels would be the ultimate revenge for Zuckerberg stripping his autonomy. So Spicy and quote.

United States Tiktok Donald Trump Oracle Commerce Department Us Government President Trump Tik Tok Cnbc Wilbur Ross Partner CEO Kevin System Instagram Apple New York Times Twitter Google
The new TikTok-Oracle company named ‘TikTok Global’ plans to go public in a year

CNBC's Fast Money

01:36 min | Last month

The new TikTok-Oracle company named ‘TikTok Global’ plans to go public in a year

"We are expecting an announcement in the next day or so on the approval of a new entity that I'm total be called tick top global getting some new details from a source close to the situation about why this proposal is expected to be approved and makes this new tick tock global majority owned in the US by source explaining that today by dance is forty percent owned by us, investors couldn't KKR SEQUOIA General Land and. And it's fifty one percent owned by Chinese nationals. Now, a new tiktok global would mirror those ownership stakes. So bike dance selling anything more than about ten percent to Oracle would make the company majority US owned now is expected to by about twenty percent of this new company tiktok global. Now, the sale of an additional stake to Walmart would further increase US ownership over that fifty percent mark multiple sources telling me that tiktok global plans to file for an IPO on one of the US stock exchanges in about a year that would again further dilute Chinese ownership and sources. Tell me that Walmart would get a seat on the. Board the board would be subject to US government approvals. I'm told by a source close to the situation and the CEO and C. Suite would be American. Now, this comes as the companies, of course, looking for a permanent CEO replace Kevin Mayor The New York Times reporting that among those that Tiktok has talked to Kevin System instagram's founder and former CEO? We are awaiting word from the president on this the deadline he said on the deal is this coming Sunday for the fact that over fifty percent of the corporate ownership would be us-based seems very much key Melissa to approval of this deal.

United States Tiktok CEO Walmart New York Times KKR Kevin Mayor Oracle Kevin System Instagram President Trump Melissa C. Suite Founder
Sumo Logic stock surges out of the gate with first trades 20% over the IPO price

Rick Hamada

00:10 sec | Last month

Sumo Logic stock surges out of the gate with first trades 20% over the IPO price

"Company Sumo Logic getting a nice bump out of the gate as it makes its Wall Street debut with this first trade 20% above its initial offering price of 22 Bucks a share

Sumo Logic
Snowflake's stock enjoys red-hot open, with first trade more than double the IPO price

The Afternoon News with Kitty O'Neal

00:25 sec | Last month

Snowflake's stock enjoys red-hot open, with first trade more than double the IPO price

"What a day to be a snowflake Red hot open for snowflake there first trade with more than double the AIPO prices is a cloud based software company. Other backed by Berkshire Hathaway. They're backed by sales for so this one has been in the works for a while, but it was a very successful AIPO the stock up 112%. On the day so strong start for

Aipo Berkshire Hathaway
Snowflake's Stock Price Soars in IPO

CNBC's Fast Money

05:53 min | Last month

Snowflake's Stock Price Soars in IPO

"Welcome to pass money a blockbuster debut for the biggest. IPO. Of the year cloud companies snowflake pricing. It's public offering at one hundred, twenty dollars a share closing at two hundred and fifty three dollars a share that is a gain of one hundred and eleven percent. But this isn't the first time. We've seen a monster move in public debut. Let's get to Bop Bassani with more on that Bob. Hello Melissa see you. So you think snowflake over one hundred percent of its first day is a big deal. Not really there's been plenty of companies that have had I ate POPs bigger than that this year loan and they include just take a look here. Biotech firm cure back was up two hundred and forty percent on its first day of trading software as a service firm big commerce up to one hundred percent biotech firm. Berkeley light of nearly two hundred cloud company and Seino up one hundred, ninety, six, percent insurance fintech firm lemonade up. Thirty nine percent on their first day of trading what they have in common is there either tech or biotech firms are they outliers marginally but the first day pop for IPO's this year is notably higher than usual. So the historic first they pop for an IPO usually about fourteen percent. That's. Historically but not this year the average I stay pop in two, thousand, twenty, thirty, six, percent. What's going on? It's not stocks are cheap. The multiple of tech stocks are historically high people are willing to pay more protect because there's just a higher degree of risk appetite out there, and if you're suddenly inspired to start buying these high flying IPO. Cautious. About this look after the first day the post first day returns of other high fliers is not encouraging. So there's been eleven IPO's this year that have popped more than one hundred percent. On the first day they have average a minus, one percent return from the first day closed forward. So be very careful Melissa here big pop on the first day for some of these. But after that very difficult to maintain continued momentum most about you bob thank you good to see you Bob Cassani and who is holding the bag in the aftermarket when these Ip has declined from the first day pop guy probably the retail investor this has been the story of the issue markets. Began though and it continues today. So. You wonder why people get exercise when they see things like this is exactly that I mean I'll say it I'm not. I'm not a banker I never was a banker and I'm sure to upset some people by saying this but. There's no way to put it other than the fact that this was completely misplaced. Now I'm sure the great bankers are J. P. Morgan and Goldman and whoever a city I think was on this deal and company will say, no, we price it right. You can't tell me that a company that has a seventy billion dollar market CAP, which was open it you know price at one twenty and tripled almost in price and had to be halted its some point today for price volatility was priced right and the people watching saying, how is this not a game I? Get it it it upsets me as well but that's the way the business works in that to me is problematic mill. Why does it upset me? WHAT'S THE PROBLEM Tim i? Think they thought it was valued at something investors in the market. Thought it was something else I mean that's the way the markets work right? Again, though it's it's it's terrible price discovery because you have some sense and bankers WANNA price and the companies want a price that deal that leaves him upside for investors but but to be clear this is three times more at least the guide from last week and so the the question really is, how can they be so far off environment where we know people are paying almost anything for growth and actually wear and cloud services but but ultimately, I think the real question is who gets access to this. IPO and the thing that's troubling is that this is not a fair game. And the allocation process is one that makes sense that there are plenty of opportunities for people who did not deserve big allocations to get them and I realized this ultimately. The dynamic of a company. First of all will say I want a certain institutional investor base on my cap stack and those are the people. I want my deal. I. Don't want certain people. Read investors typically are not the group that companies want There's a perception that they're going to be in their flipping those stocks faster. The reality is that there's a lot of hedge funds. They'd probably flip this thing aggressively today. So again to me, my issue is with the allocation process and that it's not. It's it's not a fair process maybe it's not supposed to be asked the bankers that because I think that's what this comes down to to be fair. There are some companies that actually say in the allocation that they want a certain amount to go to retail trading firms like a td Ameritrade for those firms. So then Dole out to retail investors but gosh, I think to brings up a good point in terms of the average per se popping thirty six percent this year that really shows you what this market is these days the search for growth and what investors are willing to pay for that growth. Yeah, and also you got to you have to factor in we're in a different environment. So the offering price is different than the opening price, and all of that is based on interactions with institutions trying to figure out supply demand while everyone is filming from podcast or from an ipad in their home. So it's very different than last year. Very different. The whole IPO process having said that it really speaks to the reach for growth. So, if you have the price action that we saw today. Think about it. It's Tim said you want to have if you're coming out as a public company, you WanNa, put your stock in institutions hands where they're less likely to flip out of that stock on the day of the. IPO. And that's where the whole system. Might be flawed, but it's worked this way for a tremendous amount of time, and there's always going to be a problem with any system anywhere.

Bob Cassani Tim I Melissa Bop Bassani Berkeley Seino Dole J. P. Morgan Goldman
FTC eyes possible antitrust suit against Facebook

CNBC's Fast Money

02:54 min | Last month

FTC eyes possible antitrust suit against Facebook

"Check out shares facebook under fire today as the social media giant deals with a boycott in possible anti-trust lawsuit let's get to Julia Carson. Who's got the details. Julia? Well, Melissa, the FTSE's in working on its investigation into facebook since last June and now the Wall Street Journal is reporting that the agency is gearing up to possibly file an antitrust lawsuit. Later, this year after investigating concerns that facebook's been using its position to stifle incompetent to stifle competition and examining its acquisitions of potential competitors got a no comment from facebook as well as from the FTC on this report but. That's always the question what could come next while a majority of the five member commission would have to vote in favor of the suit. Then potential remedies could range from breaking off a piece of the company to a fine to restrictions on facebook's operations than to mandate any changes. The FTC, would have to prove that these book violated antitrust law. Now, this conversation comes as a dozen of top celebrities on instagram. Abstain from posting on that platform today in solidarity with the Hashtag Stop Hate for profit campaign the participants including Kim Kardashian with one hundred, Eighty, eight, million followers Katy Perry with one, hundred, seven million or posting messages this week about how they think facebook could address hate speech on facebook and instagram. Now Kim Kardashian posting yesterday quote that she can't sit by and stay silent while these platforms continue to. Allow the spreading of hate propaganda and misinformation and double ACP CEO Derek Johnson saying quote it's speaks volumes that there is now widespread concern but facebook's complacency and W.. C.. P. Of course, is one of the organizers of stop hate for profit. Now, of course, the question is whether this will impact consumer behavior and whether it could drive facebook to make additional changes Melissa, Juliet's interesting the basis the FTC. Potential suit or complaint in that when facebook bought what's up when facebook instagram these were nowhere near competitor's at the time I mean, at the time it seemed for instance, Instagram it was purchased what for a billion dollars it at thirteen employees I don't think that anybody ever thought that it would become what it is. Today was not seen at all as a potential competitor. Absolutely, and Melissa's worth pointing out that the FTC approved both acquisition of Instagram and the acquisition of WHATSAPP and facebook has argued repeatedly that is because these companies were part of facebook the because that they had the investment of giant like facebook that they could grow to the scale and return they are now in interestingly face, you been focused on integrating the back end of. Those APPs allowing people to message between them and they would say these things don't exist in a vacuum and never would have gotten to that scale if they'd been left as a standalone

Facebook FTC Julia Carson Instagram Melissa Kim Kardashian Wall Street Journal Katy Perry Derek Johnson ACP CEO Whatsapp Juliet
A Closer Look at Sundar Pichai: From Middle Class Indian Upbringing to Google's Head Honcho

WSJ Tech News Briefing

06:11 min | Last month

A Closer Look at Sundar Pichai: From Middle Class Indian Upbringing to Google's Head Honcho

"Google and its parent company alphabet on the precipice of several major challenges regulators are expected to file antitrust lawsuits as early as this month and other example some faith company isn't as innovative as it used to be. A CEO of alphabet sooner Pechanga will play a key role in how the company navigates the headwinds, and while Pichai, is not nearly as in the spotlight as the other tech leaders. He's already had a long history Google, and by taking a look back, we can try and get some clues about how he might move the company forward a reporter Copeland joins us with an inside look rob. Thanks for joining me. Thank you. So, at the tech hearing before the House antitrust subcommittee earlier, this year Pichai himself as an immigrant sort of the picture of the American dream. And wonder if you could start by telling us more about the Chinese upbringing shore so Definitely outlier in many ways in Silicon Valley perhaps the most famous way that he stands out is that he was born in. India. So he grew up middle-class for India but not necessarily add western standards. He famously talks about growing up and getting in his first. Rotary phone. He is in such an older guy that the technology was just a lot less developed there. So he speaks frequently about the connection that he feels to technology and the knowledge that new technology can really change someone's life. So pettah eventually came to the US for Grad School. How do you find his Google? He worked relatively ordinary corp jobs until he joined Google right after its IPO google was not the Google that it is today it really was just a search engine. Quickly impresses people for his ability to one build consensus, which is true to this day, but also get the job done his first major job at Google. toolbar product. So before there was chrome there actually was an add on on your browser to search google. So his job was to convince companies like Dell when they sold you a laptop to have an automatic google search bar on there. So he's moved through the ranks since then becoming CEO of Google and then last year taking over as alphabet. CEO How did he make his way up the ladder? What's so remarkable is he's been at Google for sixteen years and we even though we're the Wall Street Journal have never done a full profile of him. So a big part of my task for the last few months was really unpacking who he is and how he got to this position and what really emerges is that Google was a place and still is a place with big personalities people who scream at each other people who say we should bet the farm on this or that and what sooner sort of did. was stay in the background, but he was also very careful that whatever he did it worked starting with toolbar but that extends to chrome the browser which he co lead and is now by far the most used web browser one of the big reveals of this reporting for me was that he's a very strategic person. It's not an accident that he stayed in the background for instance, someone who used to report to him. Told me early on in a meeting with with Larry? Page. who was CEO of Google before soon Dr Sooner made sure that they never disagreed in front of Larry. He really didn't want anyone to see any cracks and this also emerges in a lot of the people I spoke to some of whom sooner himself suggested that I speak to. But then when I got on the phone with them, they didn't seem to know him personally well. So he he keeps it very close to the vest. So it sounds like he's pretty deft at navigating the company politics now that he's in the top spot. What's he known for as a leader? So to a man to a woman ever and I spoke to said that sooner has a tendency in the middle of meetings to stand up and begin pacing in the middle of your presentation. He won't say anything necessarily sign that he likes or doesn't like it. It's just signed that he's thinking. So you can imagine people have spent weeks preparing for the CEO and he leaps up in the middle just starts pacing it can be quite disarming frankly this comes back to the criticism. Of Soon Dr to standing up in the middle of meeting and pacing as you think is not necessarily your traditional hey drive the car forward leadership. There's a big knock at Google today it's that and this comes from investors analysts even some executives of the company it's that the company is pretty much operating on autopilot. It makes almost all of its money from online advertising and you don't really have to do much besides sit there and the money comes in adding an extra add to youtube isn't exactly a high level. Decision. So the criticism is that sooner hasn't necessarily made the big move to position Google for the next decade on the other hand. When you have such a head start that Google has just not messing up is a billion dollar proposition. And what about as a coworker? What's he known for that? The best thing that's has going for him is that people genuinely like him in fact, one of his deputies Caesar. Gupta told me he loved sooner Pichai. He said the reason I stayed at Google this long as because of Dr He's someone that I trust. He moved to Jakarta because soon are asked him to. People. Say in this world where everyone is obsessed with Silicon Valley with what is happening in Menlo Park and Palo Alto and San Francisco that soon Dr a truly global outlook that he cares for instance, about Google pay in India where there are many multiples number of people using payment products in there are in the US. But tacitus surly had as much investment and one of the really fun things that is in the story is he's very much a creature of habit. You can imagine your CEO of of Alphabet you're traveling the world whenever he's in Korea he goes to the same burrito place an orders, the same Veggie Burrito. And in this world of he's hard-driving CEOS who appear in TMZ or go through high profile divorces. Everyone says that sooner Chai's legitimately just a kind nice guy.

Google CEO Pichai India Silicon Valley United States Larry Tacitus Jakarta Dell Wall Street Journal Copeland Reporter Caesar Grad School Korea Pettah
Jfrog and Sumologic Set Initial IPO Prices Amidst Wave of Interesting Private Rounds

Equity

01:17 min | Last month

Jfrog and Sumologic Set Initial IPO Prices Amidst Wave of Interesting Private Rounds

"There are new IPO filings from both Jay, frog and sumo logic to companies that filed in that great IPO wave of a few weeks back we have been tracking both companies impending debuts because we care a lot about them, their software companies, it's been venture capital money at play that puts them right in the very middle of what we care about here at tech rudge. So the news. To s a filings when it comes to developer focus J. Franck, it is going to target thirty seven dollars per share at the top end according to this initial range, of course, and could raise as much as four, hundred, ninety, two point, two, million dollars, and we did some very. Rough math this morning. So you know have the jobs. So in fact, check us but we believe could be worth as much as three point three, billion dollars at three seven dollars per share it not counting select shares reserved for its underwriting banks. Turned into sumo logic it will target twenty one dollars per share for an IPO that could be worth three, hundred, Fifty, seven, point, four, million. That's how much could raise in the debut and if you do all the math. It could be worth two point, one billion dollars again, not counting shares reserved for underwriters more of both of those to come on the site of course, but it's great to see those ideas moving forward making stores markets. It means we're not going to be bored for weeks. There's GonNa, be lots to talk about. So get excited

Sumo Logic JAY J. Franck Developer
"ipo" Discussed on Zero to IPO

Zero to IPO

05:50 min | 2 months ago

"ipo" Discussed on Zero to IPO

"Final episode of season two. I'm Joshua Davis the CO founder of epic magazine. And I'm Freddie Chief Operating Officer and Co founder of OCTA as you know we're dealing with the global pandemic we're excited to bring you more episodes of Zeroed IPO, but we had to figure out how to record in isolation. So if it sounds like we're all in different rooms, it's because we are this episode was recorded in May while we were all sheltering in place for covid nineteen. Now, we can get on with the show. Welcome to another episode of Zero, to IPO were absolutely thrilled to have to amazing guests on the show today I wanna I introduce Beth comstock who for many years in fact, almost three decades was at GE and served as the vice chairperson. There is on the board of Nike is also the author of this amazing book called imagine it forward, which I am really enjoying and learning a lot from and have a bunch of questions to ask Beth about the. Beth welcome on the show. Thanks Josh. Great to see you great to be here. And our other guests is Jasmine crow who is the CEO and founder of Gooder, which is a company that I am fascinated by I. think it's one of the more insightful companies that I've come across. Recently I also have a lot of questions for you Jasmin about how the idea came to you, but but welcome on the show. Thanks so much gas and happy to be here. Of course, we've got Freddie caressed my co host. Zeroed IPO your morning Josh, how you doing good I bet and Jasmine, nice to see you. Thanks for joining us today I'm super excited about today. Yeah me too good to see you. Well, let's dive right in because we have a lot to talk about Jasmine I wanNA start with you and I want to understand I want our audience to understand where you're coming from. When you started gooder there's some kind of basic facts that I want our audience to understand domestically we are wasting seventy-two billion pounds of food every year while forty two million people are struggling with food insecurity absolutely that's a foundational mess. And it's even worse. Now, I'll of everything that's happening with current virus who are wasting more food and more people are going hungry. So it is a huge issue. Yeah. I mean just to be clear before this even. I read somewhere that we were wasting about a quarter trillion dollars a year on food in the United States if people number eight is that right? Yeah. Right Frederick in. So I guess to put an even more simpler context about two percent of GDP is on wasted food for that's a lot of money spent on food that never gets eaten in this country does.

Jasmine crow Zeroed IPO CO founder Beth comstock Freddie Chief Operating Office Josh Joshua Davis epic magazine Freddie Nike OCTA United States GE Jasmin Frederick Gooder CEO
"ipo" Discussed on Zero to IPO

Zero to IPO

04:39 min | 3 months ago

"ipo" Discussed on Zero to IPO

"Welcome back to another episode of Zeroed IPO and we have to awesome guesses. Good Morning Lisa Good Morning. And how are you today? The morning? Good Morning. Doing great can't complain. We're going to have a very lively conversation about a wide range of things that I think will be applicable to our audience. Let me, introduce our first guest today and Morocco who is a pioneering tech investor at floodgate, and among many accomplishments, has a PhD in math modeling from Stanford where she also teaches entrepreneurship, and I think it's going to have a lot of insight to share with all of us today about what it means to start and run a company particularly in difficult times. I. Certainly Hope so I've started adventure in two thousand one, and then again in two thousand eight, so I do have some memory and recollection of hard times. Our other guests is Lisa Globe term. Who is the founder and CEO of technical and we're GONNA. Learn a lot more about equitable today, but Lisa has a fascinating and varied career. Leading up to the founding of technical, you were the chief digital officer for the Department of Education. You've worked at a bunch of big companies. You've worked at government, which is the biggest company of them all? You were the chief digital officer at bt. Networks <hes>. You're also one of the senior management team for the launch of Hulu so when you started this company. You had a lot of experience navigating corporate environments, and so, why don't we just dive in and talk about how that experience informed the founding of equitable and why you did what you did? I've been fortunate enough over the course of my career to work on some pretty transformative technologies, so whether it was shockwave, which was the first time the web. <hes> whether it was helping with the launch of Hulu. It's been a hell of a journey in terms of making change, but it was really at the White House where I came to understand that we really could harness technology to solve what had been previously thought of as intractable problems right? I want to focus on making improvements right here on our home planet to solve the issues for the under served the underrepresented in the underestimate it, so that was kind of how it all came to be well. Let's get into the details of it. Tell us what testable is. How did it fit this this desire on your part, yeah? Equitable is really about using technology to make workplaces more equitable, and our mission is to create work culture that works for everyone and in order to do that. We've created this platform that that is independent third party and help people address issues of bias discrimination harassment in the workplace. But more generally kind of helps folks with in a personal conflict <hes> workplace misconduct, those kinds of things, so we do two things one is we provide a sounding board for employees where they can when they're feeling uncomfortable in the workplace <hes> and they can come and explore their options. Get Advice, and basically figure out what their next steps are in how to move forward, and then on the flip side. People are using the platform. We actually gather data that we anonymous and we aggregate, and we use that to identify systemic issues within organizations culture. We create a report for the management team with actionable recommendations so for us again. It's really important. Important that we work on both sides equation where we are empowering and supporting employees, but we are also helping companies identify issues and address them before they even escalates were trying to create this virtuous cycle again getting to the systemic issues. A lot of what you have done with tech quibble is create something that was needed, but that maybe people didn't know they needed, and certainly now they may not even know that the solution is out there for them. which I think will resonate for a lot of our audience members who are creating something to solve a problem that most people as you said at the beginning is intractable or people think that. If it was easy to do. Somebody would have done it right. I think that's it so for me. The thing that's been again really gratifying is that. We're just kind of talking to folks. People like you're the first vendor I have ever spoken with. That is solving a problem that I have today. I know exactly what this problem is, but I didn't know like. Where have you been all? My Life I didn't know a solution like this existed once. I've talked to somebody for five minutes. It's like Oh my God I totally. Totally, get it like this makes perfect sense to me, but I gotta get that five minutes because they don't even know that assertion might exist. That's actually one of my big questions for you all, which is what are some of the factors that go into when you're creating a new market? And how do you? How do you get people to even be aware of that situation?

Zeroed IPO officer Hulu CO founder Lisa Good founder and CEO Lisa Globe Joshua Davis Lisa Covid epic magazine OCTA Freddie Care harassment bt Morocco White House floodgate Department of Education
"ipo" Discussed on Zero to IPO

Zero to IPO

05:00 min | 3 months ago

"ipo" Discussed on Zero to IPO

"You're listening to Zeroed Ipo I'm Joshua Davis? The CO founder of epic magazine and I'm Freddie Care's chief, operating officer and Co founder of OCTA, as we're dealing with the global pandemic, and we're excited to bring you more episodes of zeroed. IPO But we had to figure out how to record isolation. So if it sounds like we're all in different rooms. It's because we are. This episode was recorded in May while we were all sheltering in place for Covid nineteen now we can get on with the show. Welcome back to another episode of Zeroed IPO and we have to awesome guesses. Good Morning Lisa Good Morning. And how are you today? The morning? Good Morning. Doing great can't complain. We're going to have a very lively conversation about a wide range of things that I think will be applicable to our audience. Let me, introduce our first guest today and Morocco who is a pioneering tech investor at floodgate, and among many accomplishments, has a PhD in math modeling from Stanford where she also teaches entrepreneurship, and I think it's going to have a lot of insight to share with all of us today about what it means to start and run a company particularly in difficult times. I. Certainly Hope so I've started adventure in two thousand one, and then again in two thousand eight, so I do have some memory and recollection of hard times. Our other guests is Lisa Globe term. Who is the founder and CEO of technical and we're GONNA. Learn a lot more about equitable today, but Lisa has a fascinating and varied career. Leading up to the founding of technical, you were the chief digital officer for the Department of Education. You've worked at a bunch of big companies. You've worked at government, which is the biggest company of them all? You were the chief digital officer at bt. Networks You're also one of the senior management team for the launch of Hulu so when you started this company. You had a lot of experience navigating corporate environments, and so, why don't we just dive in and talk about how that experience informed the founding of equitable and why you did what you did? I've been fortunate enough over the course of my career to work on some pretty transformative technologies, so whether it was shockwave, which was the first time the web. whether it was helping with the launch of Hulu. It's been a hell of a journey in terms of making change, but it was really at the White House where I came to understand that we really could harness technology to solve what had been previously thought of as intractable problems right? I want to focus on making improvements right here on our home planet to solve the issues for the under served the underrepresented in the underestimate it, so that was kind of how it all came to be well. Let's get into the details of it. Tell us what testable is. How did it fit this this desire on your part, yeah? Equitable is really about using technology to make workplaces more equitable, and our mission is to create work culture that works for everyone and in order to do that. We've created this platform that that is independent third party and help people address issues of bias discrimination harassment in the workplace. But more generally kind of.

Zeroed IPO officer Hulu CO founder Lisa Good founder and CEO Lisa Globe Joshua Davis Lisa Covid epic magazine OCTA Freddie Care harassment bt Morocco White House floodgate Department of Education
"ipo" Discussed on Zero to IPO

Zero to IPO

03:58 min | 4 months ago

"ipo" Discussed on Zero to IPO

"Well today we have teams O on the show and teen is the CEO of Zora, and amongst many accomplishments is one of the most noted people on the idea of the subscription economy. Zora is the leading way for companies to launch and manage subscription services. He is a noted expert on this, but he's also the eleventh employees at salesforce going way back way before. He's the best selling author on the subscription economy. Let's be really clear about that. Yup One hundred percent totally clear. What am I? I thought I was like. Wait a second team. You're the eleventh employees at salesforce. You're the first CMO salesforce. Why aren't you on a beach somewhere? Why even working in? Was Wrong with you. Why are you on our podcast? There's a lot more to do. There's a lot more do a lot more technology to build in this lot more things. We want to do in the world, so we're busy. We're GONNA. Get into all that we want to pick your brain. We WanNA learn as much as we can from you to let me introduce our other guests Jeremy, bloom is our first Olympian on the show Freddie, and as if that wasn't enough has also played in. In the NFL was drafted initially by the eagles, and then played for the steelers as well most notably, you're the CEO and founder of integrate which is a company that helps other companies automate demand marketing, and for our listeners today we're going to be talking about a stage of growth about a set of problems and challenges that occur not in the early days, because Jeremy and integrator beyond the early days they've raised a significant amount of capital and so I think the question on the table is. How do you grow at a high cadence after you've made it through the initial stages of raising money, it's been a journey were somewhat described as an overnight success ten years later. It's taken us a while to to get where where we are phase of the company. We're about three hundred people. Our mission is is to move everything into a central database in the cloud so that we can make more informed decisions on where we should be spending their marketing dollars to create revenue. Let's get into the meat here. In the last twenty four months, integrate has tripled in size as we all know, we are in a moment of real turmoil and market instability teen. You're at salesforce. Eight your leading Zora through the current turmoil. What kind of lessons can we gain? How aggressive or defensive should we be in moments market instability as we actually started the end of two thousand and seven, and so we lived through the two thousand and eight crisis, where the prevailing wisdom was, there was never gonNa to be any cash. Will you like it's over? It's over or were you? What was your mindset well? We didn't plan to start to. China recession the economy is starting to look really really good and <hes>. We got a little lucky right. A little luck always helps along the way. We closed our series B. in the summer of Oh eight. And I think we had signed the term sheet. And then Lehman Brothers collapsed. And Economy starts shutting down a little worried for awhile. We actually wouldn't get the cash. I don't think we cut anybody, but we really spent about saying. How can we use resources? We have the people we have, and they just focus focus really on customers really needed what we were doing. Focus really on on making sure we service them well. Making sure that we we were spending. <hes> are are the most valuable things, and we continue to acquire customers you know, prove ourselves. <hes> be smart about our cash. Which is Kinda Nice actually? All the time when when things are actually going crazy around us, especially the Tech Company, there's such a big push to hire to grow, and so moments like these where the pressure is off right now really allows you to kind of reflect and build build quality systems right in foundation for how you want to operate their last year's

salesforce Zora founder CEO Co founder Harris Chief Operating Officer Jeremy EPIC Magazine Octa Davis the Co. steelers Freddie eagles NFL
"ipo" Discussed on Zero to IPO

Zero to IPO

04:43 min | 4 months ago

"ipo" Discussed on Zero to IPO

"You, for the kind introduction and I was so excited to speak with theresa and Fatty Day, because evolve have big. Businesses and I find that sells is something that can be really hard to hire for and really hard to learn. A lot of my background is on the product side so. We can make prototypes. We can get things out there. We can handle inbound, but when it comes to having a really strong smell strategy including hiring a sales voice. Something! That's been been tricky over time, so I wanted to have this conversation to get as much advice as possible about how you went about finding your sales hires what you looked for any challenges you had along the way. I love it awesome. This is my favorite kind of conversation so many ideas Matt. Let me ask you a question, so maybe can you describe it in like a minute <hes> so that we can maybe give you also some specific advice in your case, so how many? How many customers you have today, what is the enterprise sales cycle? Look like how long did it take? What's the average customer take? Do you have any sales reps like? Can you paint a little bit of the picture? Because maybe then we could actually give you some specific like actionable things out of this. So our team is very small and we're four people and we just brought on. To people went to help kind of conscious and sales. I'm in another person to help execute in sales, but there's not somebody who's full. We wanted to kind of test and see. What we liked to get a handle of this situation, we have about six customers or so are we generally sell to large businesses, and especially, because the product that we make is very hardware focused. It was really around the beginning of last year we were able to get to market in a meaningful way when we were able to have samples were like this. Versus like imagine what you could get. Rich is a really different process to last year. We say on a few fortune one thousand companies. This year we're hoping to bring out a few more, but as he mentioned as. Her and I do most of the sales calls, and at some point for these really high attached cells processes. It really doesn't scalp very well, so I think that in the past we felt a little burnt by certain sales hires, and so we're trying to think okay. How do we re strategize everything about this differently? In order to be able to hire better, and because I think for the company to grab, we definitely have to have to have someone. Well. Let's turn to our expert Therese, Tucker. What's your advice to Mattie? Mattie I like you don't come from a sales background. And I definitely made plenty of mistakes in the early days and I have to tell you that the first really capable sales leader that I hired made the difference between the company succeeding and failing okay, but before I found him I definitely went through a number of. Different attempts at trying to find the right people, and it's difficult, because people that are in sales can talk a good game right just about all of them, and that may or may not translate in terms of. Performance now with that you have to think about the kind of sales culture that you want I did not want a sales culture like some of the other software companies that I've worked at you know there are certain software companies that have reputations for <hes> people, basically just brawlers. They grabbed the prospect, and they throw them on the ground and stomp on them until they get a deal I've had a few of those okay again. That's not something that necessarily comes through in an interview, because everybody's on their best behavior in an interview, so you're GONNA WANNA. Look for proven success. You're going to want to look for culture alignment in terms of the culture that you're setting for your company. For your early sales. People I would suggest that you do options. A really good salesperson can work anywhere I mean they really, can't they? They've got all the options in the world right I mean in. Actual you know they can go anywhere. And so why would they come to a small company that may or may not succeed in a new market. So, what is the carrot to get somebody WHO's really good? And, typically that would be stock options that gives them tremendous upside.

Rich Matt Therese Tucker
"ipo" Discussed on Zero to IPO

Zero to IPO

04:53 min | 1 year ago

"ipo" Discussed on Zero to IPO

"If you are next gas took his company public in twenty twelve neal bush he is the ceo of workday let's hear him describe what it was like let's talk about the peo itself and what that meant to you that particular day what was it like where were you a free breakfast singer was in a processor sasser oh it's just you just say you know you've been through it two weeks on the road you're kind of worn out by being a are you nervous about what's gonna happen you pretty sure it's gonna go well you're always nervous you're always nervous i was thinking about i couldn't go to sleep tonight before i it's gonna go on a on a cnbc with kramer who i i love kramer an avid kept playing in my head i think stocks go up 'cause i know the demand side but if it goes down what am i gonna say 'cause you're gonna be live on the line with and while there you know how's how's how's the how's life you're stocks down ten percent of what is what is my and i stayed up all night trying to figure out what i was gonna say fortunately the stock went up twenty dollars on the first trade right and it was a much easier question the answer right we invited a whole bunch of employees through a lottery and so there were forty employees that were were watching us on on tv and ring the bell and it was super fun obviously the biggest sense of relief i had a big feeling i was just a sense of relief now now now now moving onto the next part that that was that was two weeks of heart travel and you know what it's like why did you give the same presentation forty seven time oh yeah i think we i think that was it i think we give it forty seven times and you try to be fresh when you do it yeah and are all the questions the same no no front all of they're not there's there's there's by eighty percent of the cinematic though a and a and then there's some the the more people know about the space the the better questions they ask for a company like you doing something so core to businesses an international there must have been a lot of like halo effect of vip oh they helped with that absolutely how smart out of nowhere and it's just like i couldn't go check their financials all those kinds of things there's actually a set of companies that would not there would not be customers for a private company they had did know that we were there for the long run right this you make a decision for an hr finance system you're gonna limit that decision from seven to ten years you want the company to be around for a long time and once you went public it was a stamp of approval that this the company is gonna be around for a long time and what we what we we did try to get their profitability really quickly but we had a clear path and reach those goals and and that took away the some of the the risk factors that that people so this might be a naive question but does it really give you give the the the enterprise companies that sense of security because the companies can tank you know versus a private company it would it would i think it gives customers this is a transparency transparency vacancy all the numbers and they can compare to other vendors if they do business with i don't think it matters for a consumer oriented companies it'd be public consumers don't really look at that stuff but first cia or ceo betting their business on a on a new cloud platform in matters a lot.

neal bush two weeks eighty percent twenty dollars ten percent ten years
"ipo" Discussed on Zero to IPO

Zero to IPO

14:20 min | 1 year ago

"ipo" Discussed on Zero to IPO

"Well are next guest is gonna talk about this idea that see i peo doesn't just give you a new tool set it also helps you further define who you are julia hearts the co founder of a vent bright talk to us about how vip oh helped her and her co founders better defined the company's mission here's julian i went what are cfl randy mouth who spent fifteen years on the buy side at lake mason so it's like old home week for him because you know many so wonderful we are very different the end so it's great to have you know then see sort of how we work together in i n tevin joined us at the very end which was a wonderful way that to you know to ring the bell on the new york stock exchange and celebrate that that moment where you're memories of that day oh wow well at first i felt like we are wedding all over again you know except for no so it's kind of funny are a family was there we had a some of our earliest spray it links there we had are creators on the floor us and i was very proud and i'll tell you why we set out when we decided to go public we sat out with three core objectives obviously throughout the years we had been told this is a pain it's tedious it's expensive you'll hate it you know i mean literally i cannot find one person that said they enjoyed going public are being a public company ceo so i figured i would have to construction my own reality if i were going to like have any optimism around the process so when i was that it was going to be a very expensive time to time consuming fundraise if you think about private fundraising in era that we've been fundraising zona point out you know in the good days it's like looping or dating if you think about going public in that public fundraise it's like my my big fat greek wedding all of a sudden seventeen people have an opinion on the cake end you ask you know multiple pieces the stationary you're choosing from and it's just it's it's a lot and so are first score objective was to extract as much the value out of the process of going public as the time and energy and money we're going to put into it and for us that was about using the drafting of this one is a time to really put pen to paper and appreciate the fact that we're caught fire strategy we really defining this mid market for the first time for the world that for us was incredibly valuable because it helped us focus on what is most important how we got here and sending the road mapfre were were going in the future the second was that we were we would the second objective for us to be able to tell the story of a vent bright through the journey of the event creator an why that was so important was because you know experience experience economy is at its all time high we tend to think about live events is being the taylor swift concert in madison square garden we're focused on a very very different population of creators an inventory of events so we want to tell the stories that really illuminated who they are they're entrepreneurs in nature there's a guy chad call into brought a set of legos home for his daughter because he wanted her be an engineer like he was and they started making you two videos making all these really cool they go creations and they asked like twelve million followers my coaches yes f n she had a great idea when issues like when they finally get together with all these people in real life and he's like yeah yeah so a die idea was born breakfast live which is illegal enthusiasts beat up they sold twentythree tickets in their twenty three thousand tickets rather that'd be a disappointing of his twentythree twentythree three thousand tickets in their first weekend in in philadelphia he had no idea what he was doing he he searched event ticketing came across event bright signed up an off to the races right so all of a sudden he has this great idea so what did he do you think maybe he'd just do it again the next year no he he then rolled out the mind fair from minecraft cropped enthusiasts innovators festival you know thirty one events in fifteen cities over the course of of five years over a quarter of a million people i mean this is this is emblematic of the typical event creator on event bright and you can do that on ticketmaster you know none of these things and people think of already well where we excel is really looking at how we and help the chads of the world exceed an exceed their own expectations and find success and so that right at the end of the day is a business enablement platform for event creators i think going through the process and telling these stories and on earth seeing more stories change the course of the company frankly end so that was a huge value add and that what's happening as you went through this one process i mean it's happening all along but i think a really came to the forefront because we want it used the journeys of these event creators to tell her own story and that it wasn't just about event bright and that there is color and the important to the caller was that not many people understood are market before we went public we were telling this to a much broader audience of people who were going okay so how you different from ticketmaster like what's it so we needed a vehicle and we decided that event creators and their journeys and their stories would be the vehicle and in the course of that we would help amplify fi their stories the world the third objective was to raise the proceedings that we needed that we wanna add tour balance sheet not too little not too much into ad world class investors to the conversation and to welcome them in an i would give the team a lights out grade on all three and i think because of that because of that intention and because of are execution of r i p o n these in these objective it was a really positive experience for us so yes it's expensive yes it takes a lot of time but if you have intention in through are framework we used objective is but if you have a clear intention it could be a very positive moment and the mentioned builder for the company and so we come out of it a stronger company which i don't know if a lot of people feel that way once we got once they go through a process we also rang the bell on september twentieth so we had the benefit of getting through the through are i peo journey quickly and decisively in getting out before you know the wobbling us of the market and so i feel very fortunate that we're able to do that but it's you know that's just a moment in time it's like a celebration of the work that you did to raise the money into become public and now we are going to operate the business that we get to grow the business as a public company and that's obviously where the where the real work is do you feel the same shit on efficiency but you did in previous rounds no and that's very interesting so while there may be a tendency to say well we raise money let's go spend like drunken sailors on because i think that's a neat in humans we have eight structure we have an eight model in a set of defining principles that 'em you know allow us to really understand where superpower as nurse superpowers in the leverage of are business model and creating eight core business that generates free cash flow taking that free cash flow and reinvesting it in areas that are on the patch returning or returning already and continuing to compound growth sets durable and sustainable so any down and market in uncertain times event bright is not impervious nobody's impervious to macro conditions but were certainly a lot stronger than other companies and are space or even outside of her space.

co founder julia fifteen years five years
"ipo" Discussed on Zero to IPO

Zero to IPO

09:27 min | 1 year ago

"ipo" Discussed on Zero to IPO

"Fred lady is the founder of service now has been through the ringer here's fred lynn who went public just before for us facebook's what happened to face book when they went public didn't go very well no end who who on this planet would say god damn it why did i buy the shares at twentythree whatever fell down but nothing you know they called a face plant right who is horrible and in a in nonetheless we pressed ahead ruth are road show in short living was everybody on the road show would they were were they asking you about facebook's who went on the road show here's mou frank three three people a scar pal easy fo frank ceo and me 'em i drank a lot of starbucks coffee an answer and occasional question but a you know frank was very good on the road show he's done this before micro very good in rojo he'd done this before 'em there is questionable time go out and this situation you're on the road you're trying to convince people that this is a good idea yeah face plant that facebook is just face planted correct and everybody saying you're markets small small so it's not looking good no why why do you think you so they evaluation that we wanna go out i was just north of two billion dollars in there saying well why why would you be worth two billion dollars in total addressable market is only worth one six so we i did try to convince these analysts well that's that's that's that's a you're looking in the rear view mirror at the mainframe marketplace will we see is a market that's far more significant and foot in far morio open minded than mainframe people of the nineteen nineteen nineties where did you end up pricing it a we came out of two two point three okay so and added ago when when when you went live on the new york stock exchange a that was the most surreal moment of my life 'em so what happened is they they they you get to the new york stock exchange i storied they bring into one hall this is the hall where they used to put park the horse and buggies right then the next which now trading for then you go the next trading floor they walk around saying here's here's the here's the booth where you're going you're stock is going to open then they take you where you say booth what does that mean well if you watch cnbc you have like they were like kiosks right and so we're we're gonna go out in one of the see us one of the kiosk has a market maker and the kiosks are those kind of like they're more like a tower is right there like towers on the floor or what is it what do they call him at a at a mall you know it's just it's yeah i see what you mean yeah like a kiosk yeah yeah there's the kiosk it take you to that kind of power kiosk gang you're standing there and that's where the market maker is right that's the person who's decided if there's enough by cell and then they released but then they take you to it but this is early in the morning when the market area early and so you so so you have to wake up early what time we have to wake up a sign in sleep my wife and i went out to dinner yeah we lay hitter late dinner we came back and i turned on cnbc in the futures markets were up two hundred seventy five points and i thought for service now no no no you mean futures in general futures in general in the market right and you and you look at 'cause you wanna go you know you wanna go out on a big day you wanna go out on a ride on a day or night on a down market that now in so that's looking good well above all the priorities had been down right right so were selling into this you know downmarket huge downmarket storm and frankly were not gonna sit are foxholes were gonna go out were gonna be a public company in the stocks gonna go up you know according to how we perform it's that simple longview he's taking the long view is not it's not a one day deal right and so he you know he he was absolutely did make a difference really what we went public at factors we've now become a public company and by the way there's there's significant advantages of being a public company versus private and their significant negatives as well but anyway so let's go back to they feel 'cause this is fun so after they show us the kiosk in the market maker they take us up to aisha this gorgeous gorgeous room where you in thirty of your best friends have breakfast now new york stock exchange is a big customer vars in ten of ten of their guys had flown themselves from from chicago to new york that breakfast with us on their own nickel like you're customer flies make sure or gonna be there to support you were gonna help you out you know we're gonna be there round rock as we get into exchange and you know we could we could we just wanna be there with you because you know we've been which you are all these these other years like let's do this together and i was really you know ben is the guy that they'd had it at us really appreciative that we've got you know you ring the bell they show you the exact button to push by the way buttons you're not actually like hitting about you press a button you press a button and that button works the same way as a door closed button on there until there's there's no wires you know you straight here not doing anything oh there's nothing to it now it's just it's just like a love you you press this right and then the bill's gonna ring that anyway was now you press it but you feel good about pressing who press it frankly yeah yeah now saying extra franken new israeli you know who is is is very exciting but then you go down to the floor and you go to the market maker and that's when it's fun because we had sold the shares the night before for eighteen dollars right the way this works is you you you're pre sell the shares the other people want them and then what happens is the market starts getting made and so yeah these you you have a big ask right and you have a certain amount of volume and they're yelling it's just like an old fashioned hog auction right there yelling back and fourth and then finally okay we got a quarter million quarter million trey we had a quarter million trade trading at at twenty three dollars now we have a half a million is gonna traded at twenty three dollars the people who bought at eighteen were not gonna sell twentythree and people are gonna buy any twentythree right so that at that point they said the market is made the whole thing went off and bam at twentythree twentythree and we only we went up like thirty forty percent that they oftentimes stocks were excited about oh we drew honored percent you just got screwed by banks on a fifty percent of your money if you sold it eighteen we sold you sell the night before right you're done yeah so if you sold at fifty and it goes to a hundred you just got screwed out of fifty right so you want you wanna have a healthy uptick but not too much but oh we are honored percent uptick oh man those bankers they got you got you good but it wasn't very surreal day and i would say the you know the very very positive thing about becoming public versus private is when you're selling to the enterprise there's all these corporate viability question will you be here next week whether you're financial what you're doing here and there and all of a sudden you're on par with them europe publicly traded company and you have public financial and so they can they can they can assess your viability without you having now these special call there are eight by ernst and young you say go go pull my thank you yeah exactly and so you know the fcc documents the downside is it you know you have to behave differently is a publicly traded company in there's a lot of governance that goes into that and a lot of cost for the governance but overall i awas who is just surreal day with an exceptional outcome and it's a dispensary ever since you hippie i peo end from most of us we think that end of the road a friend points out that.

Fred lady founder fred lynn facebook ruth twentythree twenty three dollars two billion dollars thirty forty percent eighteen dollars million quarter fifty percent one day
"ipo" Discussed on Zero to IPO

Zero to IPO

11:11 min | 1 year ago

"ipo" Discussed on Zero to IPO

"Cannot <Speech_Music_Female> buy one <Advertisement> person that <Speech_Music_Female> said they <Advertisement> enjoyed <Speech_Music_Female> going public <Advertisement> are being <Speech_Music_Female> a public <Advertisement> company ceo <Speech_Music_Female> so i figured <Speech_Music_Female> i would have to <Speech_Music_Female> construction my <Speech_Music_Female> own reality if <Speech_Music_Female> you're going to like had any <Speech_Music_Female> optimism around <Speech_Music_Female> the broad <SpeakerChange> that <Speech_Music_Male> obviously the biggest <Speech_Music_Male> doing <Advertisement> i was just <Speech_Music_Male> <Advertisement> <Speech_Music_Male> overall <Speech_Music_Male> <Advertisement> just <Speech_Music_Male> surreal <Advertisement> real day <Speech_Music_Male> <Advertisement> and exceptional <Speech_Music_Male> <Advertisement> outcome <Speech_Music_Male> in it's a <Advertisement> <Speech_Music_Male> dispensary <Advertisement> whatever <Speech_Music_Male> since <Advertisement> <Speech_Music_Male> <Advertisement> <Music> <SpeakerChange> <Advertisement> <Speech_Music_Male> welcome <Advertisement> this year <Speech_Music_Male> the ideal <Advertisement> podcast <Speech_Music_Male> about <Advertisement> what it takes <Speech_Music_Male> to go <Advertisement> great <Speech_Music_Male> idea you <Advertisement> had the shower <Speech_Music_Male> and <Advertisement> all the way <Speech_Music_Male> to a thriving <Advertisement> company <Speech_Music_Male> lifted <Advertisement> on n y <Speech_Music_Male> here now <Advertisement> that <Speech_Music_Male> i'm front <Advertisement> of cares <Speech_Male> cofounder <Advertisement> of octa <Speech_Male> and i'm <Advertisement> joshua davis <Speech_Male> cofounder <Speech_Male> of epic <Speech_Male> contributing editor <Speech_Male> at wired <Speech_Male> josh <Speech_Male> we finally <SpeakerChange> made a man <Speech_Male> who <Speech_Male> all the way to end <Speech_Male> <SpeakerChange> the idea <Speech_Male> we start out at <Speech_Male> zero now what <Speech_Male> i pay <Speech_Male> you were there <Speech_Male> we've arrived <Speech_Male> the big moment <Speech_Male> so today's episode <Speech_Male> is devoted entirely <Speech_Male> <Speech_Male> to this milestone <Speech_Male> in companies <Speech_Male> life the moment <Speech_Male> that it has its initial <Speech_Male> public offering <Speech_Male> last ten episodes <Speech_Male> we've gone from the very <Speech_Male> beginning be <Speech_Male> idea it's <Speech_Male> in your garage <Speech_Male> you're starting to build a team <Speech_Male> things are going <Speech_Male> great things going <Speech_Male> south you need <Speech_Male> to raise more money who <Speech_Male> were all these people <Speech_Male> building the culture <Speech_Male> keeping it going <Speech_Male> here we are <Speech_Male> i feel it's exciting <Speech_Male> and i think we have an outstanding <Speech_Male> roster <Speech_Male> to talk with us <Speech_Male> about this today we're <Speech_Male> gonna hear from josh <Speech_Male> james of <Speech_Male> damone fred bloody <Speech_Male> of service <Speech_Male> now julia hearts <Speech_Male> of a vent bright <Speech_Male> ben horowitz <Speech_Male> of andriessen horowitz <Speech_Male> and a bunch of other <Speech_Male> stuff antonio <Speech_Male> butchery <Speech_Male> of workday <Speech_Male> but friday <Speech_Male> before we go <Speech_Male> to are first interview <Speech_Male> <Silence> i just wanna ask a couple <Speech_Male> of questions have you because <Speech_Male> you've been through this <Speech_Male> yeah you've you've gone <Speech_Male> through in <Speech_Male> i peo <SpeakerChange> ashley <Speech_Male> i've gone through a couple <Speech_Male> i went through the salesforce <Speech_Male> dot com i peo <Speech_Male> but i was obviously <Speech_Male> much younger and my career <Speech_Male> i was a member <Speech_Male> of the executive team <Speech_Male> i didn't get to go to <Speech_Male> new york for the opening <Speech_Male> bell so you did no <Speech_Male> shit yeah <Speech_Male> i don't know anything i just <Speech_Male> really enjoyed the party <Speech_Male> good fires <Speech_Male> right but that's what you <Speech_Male> need to know about vip <Speech_Male> oh in two thousand four <Speech_Male> by the way has <Speech_Male> a while back <Speech_Male> <Speech_Male> and <Speech_Male> in addition <Speech_Male> to the <Speech_Male> party <Speech_Male> that you throw which <Speech_Male> is an important topic that <Speech_Male> we you know we don't wanna <Speech_Male> skip over <Speech_Male> two hours at eighteen <Speech_Male> t ballpark <Speech_Male> well that's a pretty <Speech_Male> big venue on its way it's <Speech_Male> a pretty big venue had the <Speech_Male> giants there <Silence> no

ceo joshua davis contributing editor two hours
"ipo" Discussed on Zero to IPO

Zero to IPO

13:07 min | 1 year ago

"ipo" Discussed on Zero to IPO

"I mean this story just blows my mind is did i blame everything that could go wrong went wrong mind blowing his wife gets sick or white collapses white collapse wild in the business week reporters on the road of them is gonna write the fluff piece embargoed and it comes out right in the middle of the field from hell i feel like there's a lot of wisdom to be gained from lifting the ban because he's been through so much darkness so many oh shit moments i mean any one of the three week period in a three week period any one of those could have been career defining dark like low points and he packed it all fall into a month yeah i i really likely singular focus that he shows and then he talks about is necessary to get through the ocean moment i think being example were banned talks about going to the meeting with one suit pants any other suit jacket and not even realizing that he was wearing completely disc coordinated outfit is pretty symbolic anna hit amies is the level of focus you have to have in these oh shit moments to get through them and it's something certainly i think a lot of entrepreneurs could identify with when all these other circumstantial stuff it just the noise goes away you get locked in your ears zone then if you were on the road show so leading up to and i peo in your wife collapses do you continue the road show or do you go home to your wife in the hospital i mean i'd probably go even though a yeah i mean i mean you know i think that that is one of the valuable parts of having the cofounder in the business you know you have someone else who could shoulders some of the burden i think to that situation the band was any didn't have anyone else which is a ceo the cfo's ever but that said what would you do i go home i feel like this is one of the things that people don't realize they're appreciate when you hear the story of massively successful people ben horowitz made a choice it probably ninety nine point nine nine nine nine percent of people would not make you have to be a special breed a person that's mainly not wine and roses mainly chewing glass enjoying the taste of your own blood yeah.

ceo cfo ben horowitz three week nine nine nine nine percent
"ipo" Discussed on Zero to IPO

Zero to IPO

01:58 min | 1 year ago

"ipo" Discussed on Zero to IPO

"Exactly what it sounds like sometimes you have to go negative you have to attack the competitors you have to point out their weaknesses it certainly hard to argue with the success he's had so whatever he's doing is working for him what i would say that you have to make sure the culture an approach that you're company takes it's something that you as an entrepreneur and leader are comfortable with for josh them i mean one thing for it might mean that same thing or it could be something else it's interesting friday were hearing different things in the show which is part of the point of of doing it we wanna hear different perspectives you heard maggie will deroga earlier talking about the importance of respect and you just heard josh james james talking about going negative an an attacking and playing a little bit dirty a you also have talked about getting comfortable with being uncomfortable and i wonder what's the right answer where's the balance i mean i think you're framing the challenge that every entrepreneur faces very very well you have to think about i need to get these short term wins i need to keep my company moving i need the first big win but i also need to do it in a way that i'm setting a standard and then example simple that employees people who work with me my company are gonna follow for a long time and i think what you're talking about is how do you do the balance between the short term win but the long term success that moment that first big win it actually sets the stage stage for what the company will become because i think what you're pointing out here josh is very interesting it's not what you do in easy times it's what you do in the tough times and so you wanna make sure that when everyone goes through all the tough efforts to get that first big win yeah yeah there's a lot of energy around that there's a lot of excitement around at weaken do it but you also want to make sure the right lessons are pulled out of that.

maggie josh james
"ipo" Discussed on Zero to IPO

Zero to IPO

16:26 min | 1 year ago

"ipo" Discussed on Zero to IPO

"Could hurt again heard to say you know what this company's gonna give you a lot of money if you just say you can do something but the truth is you're gonna overcommit end screw yourself it's a short term gain but there's a long term impact yeah i totally agree i here you're talking about transparency and having that transparency with their customers look the reality of it is you're gonna ford much better partnerships in the long run if you're honest with them when things are going well and when things aren't going well and it's okay to pick up the phone and say hey josh we made a mistake this happened we've already fixed it this is how we're gonna make sure it doesn't happen again and i'm gonna move on also by the way i'm happy the follow up with you in thirty in ninety days to let you know how we doing on that plan and making sure this never happens again guess what for five minutes the customers it'll be super upset but two weeks later they'll think themselves oh yeah that guy josh he did a good job they mess one thing up he was all over it and then he came back to me 'perfect that's the kind of partnership you really wanna build sometimes sometimes the first big win comes about unexpectedly in fact it could come as a result of a problem so here's maggie will the writer the former ceo of telco giant frontier communications.

writer ceo frontier communications ford josh five minutes ninety days two weeks
"ipo" Discussed on Zero to IPO

Zero to IPO

12:47 min | 1 year ago

"ipo" Discussed on Zero to IPO

"And i said give me that account i'll take i'll take on that account and we'll turn that around and i did and i would turn account after account around and get a hunter percent of their business and be responsive and there's a reason and yell censored the back of the zoo zoo keepers adver reason they make everyone walked through the rest of the season small animals and buy stuff then you get the price of crude learn i think it was really it was a kind of like to joke guy i think he this is the product but we all wanna do more i'm joshua davis a co founder of epic magazine in contributing editor at wired and i'm frederick harris cofounder of octa and this is zero the ideal a podcast about what it takes to grow a start up from a brilliant idea into a brilliant company told by the people who've done it today on the podcast talking about the first big win that deal that takes your start up from small fry a major player in thrust you're company into the spotlight it's the moment you're company becomes real and it could be both exciting in terrifying maybe you're almost out of money and you've got employees maybe a bunch of employees and you've signed some customers but if you're telling the truth you're gonna go bankrupt if you don't break through and then a lifeline comes through it's a league maybe a big league and you know what you need it you need the win you need the money you need the morale boost it's time to step up but how do you do it friday were in luck josh because today we have five folks we're gonna talk to us about how they've done it they've been there they made it that first big when it's it's come through for we've got sequoia capitals coal ash and back formally presentative vm ware job owns alex is silly service now's friend letty frontier communications maggie will daughter and domos josh james first up carl when it comes to startups carl has been.

co founder epic magazine octa carl joshua davis contributing editor frederick harris alex letty frontier communications josh james
"ipo" Discussed on The Twenty Minute VC

The Twenty Minute VC

01:44 min | 2 years ago

"ipo" Discussed on The Twenty Minute VC

"Because for whatever reason ipo's are down large is down and it's also the truth that the reality is a lot of the large companies are no longer really thrilled with tech and talent acquisitions and those acquisitions are turning into less and less late early investors and we could go into why for a variety of reasons so when i look at doing this i'm doing this really as a business and i'm trying to figure out how i can do this as a way that sustainable and in the end the math is very simple you have to have big exits in order to provide the kind of returns in order to be able to keep doing this it's it's i love doing this i want to keep doing it i'm focused on fighting those few companies that can provide really disruptive returns in order to be able to keep funding the business absolutely i immediately feed questions from just not talking about the axis declining now i had semo shown the show recently and he said that great early stage investors over the next decade will be determined by how well they use secondary's i'm intrigued how do you think about secondary use given the maybe lack of liquidity with public markets on with lack of access yes so this is where i'm a little more old school so i do believe there's a time and a place for a secondary but i also tell the story and i don't know which this came probably reputedly i've heard this story told about three different species but apparently there was a vcr include ac one of his portfolio company and he asked for the company how do you think i got here and the guy said you took a jet said yes how did you pay for that jet and he said i paid for this jet because i never ever sold the company to so so i tend to believe that a lot of returns are there light if you can hold onto that last bit of return it's where you see tremendous amount of return so i have a variety of reasons not depicted in secondary's so far and i believe that there.

ipo
"ipo" Discussed on What's Next! with Tiffani Bova

What's Next! with Tiffani Bova

01:44 min | 3 years ago

"ipo" Discussed on What's Next! with Tiffani Bova

"Corporate valuation i find it fascinating so let me driver space between the two extremes that that you just described there are the folks get caught in the numbers and there folks who says sometimes uh go too far with the worrying about the cause aladi and sometimes don't do enough justice to the numbers i wanna give you a habit a real specific example be though the recent uh ipo for blue apron so when they announced that they were going to go public they put out a whole bunch number some which were required as as part of an announcing ipo in some which they just to put out there almost as windowdressing to say hey look at us we have a whole lot of numbers were very quantitative or whatever what we did is we looked those numbers very very carefully and knowing the kinds of patterns that we tend to see uh about how customers to things over time how they differ from each other a kind of breaking down customer acquisition patterns from retention understanding where different costs come in that the numbers that they revealed let us get below the surface and really understand those subcomponents like retention acquisition and and and things like uh a cost for acquisition really really carefully among we kinda put humpty dumpty back together again we realized you know what companies a dog and even under the the best assumptions that you can make its valuation is not even half of what they were a expecting uh on on the ipo we said the the highest it's going to be possibly be or could be justified is eight thousand forty cents.

ipo
"ipo" Discussed on Acquired

Acquired

01:45 min | 3 years ago

"ipo" Discussed on Acquired

"From fruit welcome back to episode forty nine of acquired the podcast about technology acquisitions and ipo's i'm dan gilbert david rosenthal and we are your hosts today we are covering the stitch fix ipo a one the david i have been excited to to cover since this one came out because it's a it's a fun read it's fun to compare and contrast against other s ones coming out recently it's a ecommerce leader that is going up against amazon in amazon's absolute hay day and rise to prominence and we're going to dive into figure out you know how can they compete how can they differentiate how is there still a good business left in ecommerce in an era where amazon looms high this is one that is really tailormade for our narratives section because for the longest time the narrative wednesday's fix was a private company was this company is crushing it it oh it's all up into the rate which has we'll find out it was but then it was actually a disappointing ipo in and of itself so we'll dig into the story here what happened and for our listeners who are new to the show as we started as just acquisition since theme acquired we added ipo's we realize we needed to change up our format a little bit and there is a big part of ipo's which are narratives and that's both narrative from the company side and narrative from sort of the investor side from from the street so it's what did the what are the company want you to believe in what is the analysts team or the analysts in media community want you to believe you never hear much about that and acquisitions because they kind of happened and then you just hear about the news afterwards but with the road show when the lead up and trying to price optimally depending on your definition of optimally there's a lot.

ipo amazon dan gilbert david rosenthal
"ipo" Discussed on Equity

Equity

01:35 min | 3 years ago

"ipo" Discussed on Equity

"For feature ipo's like i mean this is probably doesn't slammed the window flow this probably doesn't slammed the window close but it's a bad sign amina investors are always looking at other investor appetite for tech ip as and they'll give you any reason any reason imaginable see you say that the ipo into is closed because bankers don't wanna bring out and i appeal at a bad time i don't think the ipo is closed out to this but it definitely doesn't help a is more or less closed for a lot of last year and then it finally kicked off a snap as you mentioned earlier this year and then we saw spurt of ideas in march and april by were really not seeing as many as we should right now and so this really doesn't help that one of the most highprofile consumer ipo's consumer tech ipo's has not done well on the first day and it could continue to do worse than the coming weeks of sutures nobody thinks it underperformed pricing to think that the amazon factor killed it so it's not that it's going to shut the window but if it trades down to four dollars from ten dollars be the sign that investors are taking you right why am i paying a marketplace multiple or some type of tech multiple when in fact it's a logistics base company and you know i've i've had multiple instances of of companies i've taken public that are amazing companies and the bankers position them in one way in the road show and we received incredible multiple and ultimately the street decided that they were to something else and that the margin structure suggested a different type of trading multiple companies performed but stock going down because people just thought.

ipo amina amazon four dollars ten dollars