37 Burst results for "Ipo"
Fresh update on "ipo" discussed on BTV Simulcast
"A lot of deals a lot of IPOs what do we know Yeah this is a super interesting analysis They did So I encourage everyone to go read it Essentially what they're saying is that IPOs particularly in Saudi Arabia have not been as profitable for Wall Street firms for global investment banks as they would be elsewhere in the United States or in Europe And this is really an important thing that we have to watch as Saudi Arabia is pushing so putting so much pressure on these firms to move their headquarters to the kingdom by 2024 or else risk losing business Essentially they look at these solutions by Saudi Telecom company That was one of those recent IPOs They say it earned banks just $12 million That's 1.3%.
Fresh update on "ipo" discussed on Bloomberg Businessweek
"Gold rallying today by one point rallying moving Laura should say gold down 1.2% 1746 ounce crude up 1.4% crude rally now at 73 25 a barrel Tycoon Richard Lee's FWD filing for a U.S. IPO seeking a New York Stock Exchange hosting that headline now on the Bloomberg professional service I'm Charlie Paul that is a Bloomberg business flash All right Charlie thank you so much Nike as Charlie mansion out with their earnings and just a quick check on the trade here in the after hours And we are seeing shares of Nike down about.
International Poker Open Will Return to Dublin Come What May
"Just six weeks time. He will be bringing live poker back to our land. He is nick o'hara nick. Welcome the creator of times for having me along. Always phones josh. It's great to have nick. Let you start right there the it. Oh this is great news of the week. The international poker open is happening and it will be the first life fokker in ireland. Wanna say like twenty months or like eighty ninety definitely in that region for the fourth time the vet will be sponsored by unique poker. The festival is one of europe's longest running and most popular events. It's been held annually since two thousand and seven including an online version. Played on you bet last year. This year's live event will take place at dublin's burlington hotel as it has been for many years. We'll be on from october. Twenty fifth. Nick this is very much your baby these days. Tell us more. Yeah i mean. It's phony mentioned lockdown. The last major live events in ireland was to uni beto In february of twenty nine dame so we were last two now. It looks like prefer stand and on the twenty second of october government or to to move all remaining restrictions which lay the patch for live events to recommence has to wear before. Knock down so. I mean we're very excited about our and the government announced yesterday ten days ago so there's been a lot of our background over the last five days or so to gather websites updated schedule updated contacting staff finalizing details at the venue and and we finally yesterday morning. At eleven o'clock we announced the ipo online which was spread and we had a huge response on social media and the hotel Announced about eleven o'clock in the morning on the hotel called What's happened forgotten destroyed hair before imposing is bought does not mean is said what we sold about a hundred bedrooms in the last hour wowed. That's an incredible
Understanding Bitcoin and Blockchains With Nic Carter
"Bitcoin right. Now is very interesting. Place you i was telling my brothers. Were like the voice of reason throughout all of the es g mining china ban of mining premium. Anytime that somebody in the mainstream media said something stupid it was like i gotta go right another rebuttal and you're just cranking them out. How do you evaluate where we are right. Now with mining specifically honestly. I think we're in an extremely good place okay. As far as money is concerned a lot of people were upset with. Musk myself included for what he had to say about. Bitcoin mining but for better for worse his comments catalyzed reaction among the mining community specifically in bitcoin. And we've seen this enormous reaction to create nonprofits associations just groups of individuals that are engaging in disclosure regarding what kind of energy they're using. We've also seen the shock. Which was the chinese hash rate migration. We couldn't plan for that. But that just so happen to have enormously positive effects for the mining space and i think the in the space of year bitcoin mining industry has gone from this completely opaque sort of unaccountable largely chinese industry mind with significant amounts of coal to almost a you know a strongly north american american industry. I mean not not exclusively but by the end of the. I wouldn't be surprised to see fifty percent hash rate in the us or canada. That wouldn't shock me at all right now. It's probably forty percent and hash. Rate is much more transparent about its operations not only that these miners increasingly publicly traded. We're seeing new listings all the time. We're seeing spikes. Ipo's all the time for these miners. The has made it clear they consider yes g. to be an important part of us capital markets again for better for worse the miners responding to that. And they're seeking out these renewable sources of
Robinhood Goes Meta, Becomes the Ultimate Meme Stock
"Robinhood taking investors on a joyride the stock surging as much as eighty one percent for triggering several trading halts early in the session. Robin had closing out the day with a gain of just fifty percent. It's now up. Eighty five percent since going public on thursday. So what's driving. The wild action shares. A robin hood. Let's kick things off with kate. Rooney's got the story kate. Tamerlane's yeah quite a turnaround for robin hood. The stock touched eighty five dollars earlier. That is well above where it last week robin hood. Stunk ended the day around. Seventy dollars per share was the second. Most traded name on the nasdaq. Today only behind. Amd and it was halted a few times for volatility today as far as trading volume it surpassed its ipo day with more than eight billion dollars worth of shares changing hands. The stock is still seen pretty thin trading so that thanks to some of those lock-up periods for certain investors mean fewer shares are available to trade. I'm told that brought a lot. More volatility today retail interest is another big factor. It is the most mentioned stock on read it. At least it was today. According to data from think with more mentions than both game stop and amc and momentum train is well. That is a factor. There's likely hedge funds looking to jump in on some of this action. Short interest though does not appear to be a factor at tends to be pretty expensive too short stock like robin hood so soon after nine peo- that is thanks to the lack of shares out there to borrow. I talked to s. three partners about this earlier. They say there is some short interest but it was really the long side. Driving robin hoods prices today.
China Cracks Down on Big Tech
"It was really interesting Here in the united states there's a lot of scrutiny over big tech the power that companies like google and facebook and amazon microsoft apple and twitter amassed You know i have a problem with it but You know you certainly. They certainly are powerful. He certainly are and You know maybe that's an issue the european union Thinks it's an issue so they're working on a lot a lot of different london for folks. what's interesting is of course the democracies it's a long drawn out process. Ftc investigates congress. Legislates there's a debate back and forth and nothing happens for a long time if ever that kind of thing. Meanwhile in china where the chinese communist party rules with an iron fist We don't have any of that debate discussion and they are cracking down on big tech and in some ways crack down a big tech in the ways that says some of our members of government would like to crackdown here. It's kind of interesting. It started Last year when The the company ant financial run by jack ma the founder of alibaba the amazon china cited do an initial public offering in the us in the us stock markets. China didn't like that. They cracked down the shutdown they Jack ma was a little Critical of the chinese regime saying you know they don't really allow us to be as capitalistic as we need to be the shut him down He disappeared for a while. reemerged But i don't think he's a china's richest man anymore and i don't think that and financial really is an you know they certainly didn't do their. Ipo now. They're cracking down on the uber of china. Dd actually cracking down on a lot of stuff. Ten cent why boko
Robinhood Sold IPO Shares to Over 300,000 of Its Customers
"That have the most to lose and speaking of stocks. That have a lot to lose. I want to talk about the ipo of robinhood. This was one of the more highly anticipated. Ipo's after all this really encapsulates the entire you mean stock investing theme where the public is just buying everything no regard the fundamentals pure gambling in fact a lot of people have taken their stimulus money and deposited directly to their robinhood accounts. And of course robin hood was at ground zero for the game. Stop short squeeze in fact. A lot of people were upset at robin hood when they halted the ability of people to buy a game stop or the leverage up to buy game. Stop so there was a lot of people focusing on this. Ipo they supposedly have democratized. Investing course robin hood is not about investing at all. It's about speculating. It's about gambling if anything that's all they've democratized and they're not helping the little people rob the rich right. That's the whole name of robinhood is where you're taking from the rich and you're giving from the poor will what robin hood actually does is. It helps the rich take from the poor because the people who are losing the customers or the people who have accounts at robin hood because they're not actually the customers. Those people are the product. The customers are few hedge funds that are buying all the order flow. So they can trade. Against all the robin hoods right so all the mary men who have got account robinhood are losing a bunch of money and the people who are making. The money are the rich sheriffs who own these hedge funds. The reason they're buying all these orders is because they're making a lot of money off them because the people that have robinhood
Growth Acceleration Secrets From The Private Equity POV
"Talk to me about private equity as it relates to marketing specifically marta companies. There's a lot of b2b sast companies that are out there that are thinking about the ipo. Were the big exit in reality. They don't have the scale you know. Become the next unicorn so they ended up scrambling. Where does private equity fit in. Who do you look for. So i would say this is the sweet spot. I really focused on sas based organizations. There's probably a plethora of organizations out there that really don't understand how to stabilize get on a accelerated growth track. I mean most of the founders of these organizations are more tech savvy individuals. Were they don't understand what it means to penetrate the market to build headcount to create conversion and remarketing and accelerate their growth and focus on. I like to call it. A focused on impact versus just revenue. Because most of these organizations are trying to make money versus generate impact which is a three prong approach towards scaling an organization that focuses on reach revenue en marche so when i meet by that as sast based organizations which brought up these czars software as a service based organizations and i like to focus on memberships. How many members can we get into the stock. And how quickly can we accelerate value Into these snacks and the goal is one which is reach. How do we start reaching the market and we take over. A percentage he had we penetrate penetrated market and that comes down to traditional arctic miles all the way through the advance more digital that we get into revenues. Not just reach. Now how do we convert the reach into some kind of a monetary value and in what we're converting we need to look at the organization not just from a sales sale sales because a lot of these atkins monsters out there. Only do they focus on. How do we make it sound. it's less about the sale. If you don't understand the march it's more about the operational side because sale is easy. If you have a great product sale is going to be recurring. If you have great product your organization will not stabilise thrive and grow and get to the next level of success is you don't understand the operational model so the third prompt to that impact generation is really on the margin. Saw that really encapsulates. Every functional aspect of an organization combined with the reach revenue which generates march.
Lucid Goes Public to Accelerate New Products
"It goes public on the nasdaq. Hsieh's of lucid rose. Ten percent yesterday following their debut the startup receives four point. Four billion dollars in cash from the transaction after expenses saudi arabia's public investment fund have been a controversial for some people at least about certain things that do with saudi investment. That a billion dollars into lucid over the years they now come out of this with lucid worth twenty four billion and the saudi public investment fund owning sixty percent of the company By any measure. That's a damn good deal. These reverse merger deals Can indeed provide a cash injection to accompany to go public very quickly without the usual. Ipo process and it does give them four and a half billion dollars in cash to accelerate they're all out there roadmap much just cars. Suv's but also immobility Things like electric boats and planes e. Vitale you'll hear pizza. Rowlinson call it also home energy storage as well. Not just the lucid air. That starts seventy grand off the tax credits. But it'll go up to one hundred sixty two thousand. They are on target to deliver them. I've got a clip era of peter. Rawlinson the ceo. Talking this is edited for brevity by the way just full disclosure. But you can see the full Listen to the full audio is online on social media. How listen to what he had to say. We are on track for delivery of the groundbreaking lucid this year and we're on track for production shedule in custody monday plant. We've already started ground. Leveling for incredible integration of phases. Two and three of the factory bringing two point seven million square foot of expanded factory space ready for the introduction of the gravity project in late. Twenty twenty three
NuFACE's Tera Peterson Tells Us What's On Her Face
"So tara tell us what is currently on your face or what are you upset us obsessed with right now. So i'm obsessed with a by the ratio shares. They have this. It's more like a cream. Need milk cleanser. But it's oil free on if the lay the ipo to it's amazing it hydrogen your skin. You don't feel dry. After you cleanse your skin it even takes off all of your makeup which most creepy cleansers tend to like just basically like older where the the black is the mascara in like. Suddenly down your face this completely cleanses your skin hydrate your skin. Allah one step. So i'm obsessed with this. Of course i'm obsessed with maybe face. I mean truly. It's that instant facial that. Listen to use your face and two products that i'm also like really really loving is they've been around for a long time at least the first one which is the benefit i console it. Just so good for a blonde like me like it doesn't get to brown at doesn't get to it just like a perfect achy like perfect color and and i was getting my makeup done like probably a month ago in the makeup artists. Used the makeup forever the reboot. It is so good it leaves your skin glowing so those are my obsessions right now. You use goof proof brow from benefit. That's the brow pencil right. Yes yeah okay perfect. And then that reboot foundation. What's so funny that you brought that up. Because i just saw k. Jane hughes do a video It was aware test on that particular foundation and she wore it like all day long through all of her meetings shoots and it held up so so well so i need to say or have. You tried that one. No i haven't. But i was going to say i feel like all of your recommendations. Your picks are very on bandwidth g- los angeles. So yes well. In the cool thing about the reboot is that they have. I mean they have like a million in two shades. And so you really need to go into sephora and like get shade like testing because It really like it's a perfect match for like all tomes. So 'cause that's working out his intimidated about is like. I don't know what color i am. So it was moved because the makeup artist. She's like your this color. Just go by this. I was literally in the chair. I net on sephora dot com. And when she first introduced it to me. So yeah those are my
Can a New Wave of Crypto IPOs Rekindle Wall Street Excitement?
"Anyways today. We're discussing the robin hood. Ipo and the circle ipo and whether they can get wall street. Stoked on crypto again. So first let's talk some background. In retrospect the coin base ipo as the top sort of looks super obvious right base ipo on april fourteenth and the bitcoin all time high depending on your exact source came within around twenty four hours of that event there was an extraordinary amount of hype around this which by the way is technically direct listing. Not an ipo. But either way there was a ton of hype and it's because in many ways it wasn't just a single event. He was the culmination of an entire narrative which had been driving the industry for upwards of a year that point. Bitcoin had surprising resilience post black thursday crash in march twenty twenty hedge funds. Particularly paul tudor jones start to notice and explicitly identify it as a good trade in the context of massive global money printing. And this wasn't hard to understand right. It was an incredible moment to c- bitcoin supply issuance pro grammatically have had the exact same moment as central banks were getting comfortable with bigger balance-sheets than ever and by the way paul tudor. Jones wasn't even close to the only hedge fund who bought into this narrative by late summer. Early fall some others like stand druckenmiller. We're going on cnbc to say so as well and turn michael sailor and the bitcoin treasury bat and all of a sudden there's an additional dimension to this institutional by narrative other companies like square follow. Suit some really unexpected players. Come in as well like mass mutual's one hundred million dollar bitcoin. By which is where many of you probably. I heard of a breakdown sponsor night dig all of this creates an incredibly strong clear narrative picture going into the holiday in the new year. And then we get alon tesla's one point five billion dollar. Bitcoin treasury by dwarfs at least the initial by of micro strategy and we really off to the races and then coin bases listing is announced and it seems like the combination of things a major truly legitimising company from the crypto space moving into public markets
Analyst: Didi's IPO Was a Disaster. Here's Why
"Calls the DD IPO a disaster with more on that and what China's crackdown means for more tech companies in his Edith Yeung of Race Capital is a China expert. And we're so glad to have you here because Once again dd feeling the pain share price. I mean, now, like 11 bucks well below where the IPO price was. And the question marks surrounding who knew? And when? Why was it such a disaster in your own minds? I Is such a disaster because there's a lot of rumors, speculation that maybe the founder and CEO both ignore about the request and the change and make sure that they need to comply with the data security and compliance before they go public. Regardless and there's a lot. This costs a lot of action lawsuit going on now, and there's a lot of hatred for the founders and also for the for the president, and it's just really unfortunate to see what's going on. Which in my mind, I think you know, companies send of really chilling effect for many, many Chinese companies that with the goal to get listed in In the U. S recently, including companies like Kid Keep, and Himalayas recently wanted to go IPO in the U. S. I heard that both call it off because of what's going on with the D. Link Doc as well, postponing its IPO. The ramifications there that is this to your mind's eye, Edith. What China wants. Does it want to prevent make it harder, more difficult for companies to go to the capital source that is the United States? I think you know what's really, really interesting to me is that in the past, a lot of people say data is the new oil data now really is the most important things in terms of infrastructure. I think China the most. Some of the most important Internet company of China, including Alibaba, Baidu, Tencent music are all listed in the U. S. Says over 248. Companies from China is listening to US. U. S stock market is really, really important to China and Chinese company. But having
Marilyn Monroe Is Still a Counterfeiter's Best Friend
"Nearly six decades after her death, Marilyn Monroe is still a popular choice from mugs, T shirts, jewelry and other products using her name even illegally. Joining me is Bloomberg News Patent reporter Susan Decker. Marilyn Monroe is still popular. Just how popular issue she's so popular that counterfeiters loved put her name on T shirts and the owner of her trademarks loves to file suit to stop them. So who owns the right to her picture who owns the right to her name? Well, Authentic Brands Group, which is possibly going for an IPO late this year, owns her name and the phrase diamonds are a girl's best friend. Which, of course, is the famous song from Gentlemen prefer blondes. But her image is actually public record. There was a rather famous case back in 2012, where it was decided that she Did not have any right of publicity. Um, this is one of those Make sure you pay your taxes situations when she passed in 1962. They argued that she lived in New York because they didn't want to pay California inheritance taxes. It was a rather modest Mild, but still they didn't want to pay taxes. So they said she was she was a resident of New York. And they said, Oh, no, she was. She was domiciled in California when she passed and and the court said No. You can't say she lived in New York for purposes of taxes and then say she lived in New York, California for right of publicity. We stick with the first one, which was New York, so there is no right of publicity for Marilyn Monroe. The trademarks of her name are still
"ipo" Discussed on MarketFoolery
"It's wednesday june thirtieth. Welcome to market hillary. I'm chris with me today. From the financial capital of the united states of america. It's marine gallagher. Thanks for being here. Thanks so much for having me apologies in advance to the dozens of listeners for the degrading quality of my voice. This keeps up. There's there's probably if there's no episode of market fully tomorrow that's why because this cold is just getting worse today we're gonna talk allocation strategy. We're definitely going to talk about tumbles new business initiative. But let's start with ipo's because we have already had more ipo's in the first half of this year than we did. In all of twenty twenty there are eighteen. Ipo's this week. That is the most ipo's in a single week since two thousand four before we get into one of the companies going public today when you step back and look at the state of ipo's what stands out to you. Yes oh what's really interesting as you know a couple years ago people said this was the hottest ipo market and then twenty twenty kind of cool things off. But then we're seeing this kind of pent up demand in this twenty twenty one ipo market. So i mean. in general. The global equity index index has rose to new highs in twenty twenty one and the ipo activity has reached its highest level in over twenty years. I think it's a lot of po..
IPL Therapy for a Flawless Complexion
"Into summer now and i think that you know coming out of kobe. We all wanna be gorgeous. Glory like yourself. And i do feel like there is such a focus on getting clear. Perfect skin you know. Want to get rid of the redness we want to get rid of the discoloration And i know to popular treatments. Both i p l and v being so. Let's talk about how we can sort of get our you know sort of perfectly clear. Summer skin And let's start with ipo. Can you tell people at home. Might not know what exactly i l is. Yeah of course. So i think the goal right is for all of us especially in the summer. It's not after any right. You wanna win our sons screen on hot. So i i am tense. Host light at stands for so. There's different wavelengths there's different size of him. He says that all vary makes them at your local filed. But then there's more advanced systems may be editor doggy. So armee machine empty tube company women at the bakery the first type yelich twenty five twenty seven years ago so they really perfected the craft. The idea was an ipo. Get ramp anything discolored. Don't on your skin so it's round. It's red bull leftover acne marv's labs modest so they really find soon. I think i have eleven wavelengths on machines you can go after every individual issues. That are to see
Robinhood Will Give Retail Investors Access to IPO Shares
"The stock trading app. Robin began rolling out. A new feature called ipo excess which lets users by initial public offering shares typically reserved for institutional investors. There are no account minimums to use ipo access and the medical scrubs company. Figs will be the first company to sell. Its ipo shares on
Robinhood Will Give Retail Investors Access to IPO Shares
"This is pretty remarkable statement. Being made by robin hood in reap ravenous saying it will give retail investors access to those shares they will not be an underwriter for companies hitting the public market but the stock trading company will get an allocation of shares by partnering with investment banks. So the question is how much and who's actually robinhood going to get them. And i could share historically been aside for you know the rich and famous high net worth people this big so this is fantastic that they're starting Access and This would sway me a back to their app especially even participate with no account minimums. Now let me say that again. You can participate in that coming with no account minimums now. of course there's gonna be limited number shares. You're going to get but this move is probably going to be antagonized while street quite a bit and we know that. Ipo stocks hop on first day average is thirty six percent in two thousand twenty so individual best author. Somebody's popular names. That you can't get access to is exciting i will i will. I will double down this. If we're actually can get in on some aikido doesn't matter how many shares you get long as you get a few to worthy worthy investment. Most of the time. If you've done your due diligence on picking a stop that you wanna purchase but a biggs is going to be the first ipo. A medical scrubs company bigs which filed its. Excuse me if i were to go. People go public and thursday will be the first company and they anticipate that up to one percent of the shares of class. A common stock offered will be at will be available for robinhood investors. So that's fantastic news. It really really is
From Twitter to Palantir, Losses in Technology Stocks Stack Up
"On the one side. The reason highflyers crashing back to earth. They just check out. These moves fastly. Fc twilla draftkings all plunging. Those names now down at least thirty percent from their all-time highs on the other side the old school value name cisco ibm dow oracle not just today but many are trading at or near all time highs so in this tech tug o war. What side do you bet on dan. Well right now. It seems pretty clear. I mean the pandemic winners right some of these high valuation high growth names that were really well situated during just the unique situation during the pandemic they pulled forward a lot of demand here and now they're faced with decelerating metrics forward on all sorts of occasions. You have fastly down there. Facet was down twenty five percent today. It's still trades at about ten times next year sales so the demand and the pace in which these companies were growing in last year into this year are just not sustainable at these valuations. I throw a whole nother group though in their mail. We've seen some huge. Ipo's over the last six months or so airbnb. Door dash snowflake pailin tear and those stocks are down thirty forty percent from their recent highs. And they'd be more comparable to the oracle the dell the ibm and the cisco and i do think that as a really interesting relationship here that you're seeing rotation out of these high valuation names into cheap names that are more stable that don't have the growth just a bit more defensive here.
Discord jilts Microsoft
"According to the wall street journal. Discord is ending talks to sell itself to microsoft or any other company at this time in march. There were rumors that microsoft was attempting to buy the gaming chat firm for about ten billion bloomberg says discord reportedly rejected a twelve billion dollar offer from microsoft according to the publication sources. That are close to the matter. No surprise that these talks broke down in the context of recent gaming. Ipo's discord surely new worth a lot more than twelve billion dollars. It was my view that if microsoft got discord for ten billion or twelve billion it would go down as one of the best acquisitions of all time for them. I suspect dischord. We'll go the ipo route and likely command a twenty billion dollar plus valuation.
Coinbase IPO: Here's What You Need to Know
"Today's most important story obviously is coin. Based going public and direct listening potentially valuing the company at sixty five billion dollars or more as it becomes the first major crypto business to go public in the united states investors hailing it as a bit of watershed moment for crypto attracting investors encouraging institutions to play in the crypto space and some recent private trades have valued the company at almost one hundred billion dollars. Of course this morning on squawk box co founder and ceo. Brian armstrong talked about the company's connection to crypto. Here's what he said. We're also might follow an index to bat or eleven bet on the crypto space. More broadly. Because we're kind of selling picks shovels. We're helping people access and use this new technology. So i think we're gonna grow along with the crypto space but if we keep growing share then we'll sort of be an addition of of that on top of the price of crypto hopefully
What did the pandemic do to our social media use?
"I begin with a confession. I love social media especially twitter. I spend a ton of time on it. It has brought me great joy and new friendships and all of the stuff that goes into funding requests. And ipo's when these companies are trying to make some cash and during the pandemic. I've spent even more time on twitter. Obviously a now. I kind of hate it. I love and respect the doctors and reporters who tweet out. Vital information on cove nineteen everyday. I hate that. I know exactly when every day they'll do that and that i will see it and i will feel a little bit worse. I love our listeners. Who respond to us. Thoughtfully to talk about our episodes. Were our guests or why. My delivery is so slow but also i just cannot deal anymore with the people in our mentions who don't even believe the pandemic exists. All of that is a long way to say that today. I hate twitter. But ask me tomorrow and i am sure there is a social media platform that you feel not exact way about over the last year for obvious reasons spending the past thirteen months and counting without real in-person friends. Social media has been a lifeline for millions of us being where we go to commiserate to mourn to be scared but also to celebrate every little victory and that experience has put a magnifying glass on social media the benefits greater than we might have thought the annoyances the hate even more so so what has our time on social media this year done to us. How has the past year changed our experience with these platforms. Is it now a more vital tool and even more racist hellscape is it a virtual community or is it where we go to stand in judgment on one another. And why is tick tock the only one of these platforms. Everybody enjoys
"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.
"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?
"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.
"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
"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.
"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.
"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.
"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.
"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
"ipo" Discussed on Zero to IPO
"This sense that sales is a dirty word how do you learn to be how do you become a better salesperson how could people practice this how could you get better as a salesperson yeah so i i b m i don't know if i mentioned this stupid i did go to this entrepreneurship conference at the stanford business school put on about ten years ago and there was just one session oversubscribed on sales and everybody in their head started company and they're like why did you teach us about sales when we were in business school and they said 'cause he wouldn't take the courses you thought it was for the dump trucks in high school and everybody's sort of sat a little bit and said yeah that's kind of how i mean it's like i'm i'm mortified to say that now that's kinda how i thought about it why is that because it was you had the sense it oh this is like door to door sales is that is that where the connotation came from think so i think you know like 'em i mean how many people do you know from you're undergraduate years who have gone into south it's strange because this is one of the core competencies it you need as as an entrepreneur it seems to me and yet there's it's it's almost like you have to just be born able to do it i love selling i was not in the girl scouts i was not in the campfire girls but i love selling campfire can defer my friends i mean i love selling the magazine string high school and we had a fundraising drive i mean i just really liked doing that and i was actually junior achievement in high school you know that organization how you sort of start a little company when you're in high school so there was something in there always 'em i think 'em but really starting when a company i honestly starting a company is a huge sales job right you're selling i mean you're selling customers on products you don't yet have when you're getting started telling investors you're selling people come work with you there's there's a it's it's just nonstop sale so i think are time it's just a real development of appreciation and as i learned more about specifically enterprise software sales and really start talking to some of the people in the valley i mean i just got tremendous respect for how difficult unimportant that chop is and i think that start my senses that's percolating in trickling into business schools and things like that i think there are more sales courses now than there were when i was there but yeah that class like this course you were talking about this just a you know a session at a at a conference but yeah i that's my son still very underrepresented though i think they're still just a handful of classes when i was in graduate school a there's a class called technology sales and sales management anna ashley teed eightyeight it put the word technology technology on the get people to take it a you probably raider fan i t eight it a two times in a you know it taught like the the very basics of sales right yeah but the basics of sales are 'em like you said it's a lot of the things you have to do any way to start company but it's about communication storytelling can't tell the story giants understanding who the person is because it's not what you wanna sell its what someone else wants to buy right right and so you don't just sell something an interesting to what you were saying earlier about being able to listen carefully i always suggest to people they behave more like a finnick fox when an alligator defending fox fox you know what i'm saying i don't know when he's talking well you know you attribute to and alligator they buy big mouse yeah small areas are us has a very small mouth in very big ears and that's what i always tell people you wanna be you know there's a lot of things in in sales but generally don't be an alligator salesperson big mouse molitor sprint do you feel like you've become a better salesperson overtime i think i have learned and i also think that the job gets harder as the you know things get larger so i i feel like i haven't plateaued but there's still so much marta learn josh where i think is really interesting here is you know certainly nonstop sales is something that we talked about that everyone can identify with but i think the more interesting thing is she says it gets harder as it gets.
"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.
"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.
"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.
"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.
"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" 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.