Slack’s Direct Public Offering on Thursday: Don’t Expect a Zoom-Like Ascent

Slack is set to go public, and its listing is turning heads — and not just because it’s a rare direct listing, either.  The enterprise tech firm is planning a direct public offering (DPO) — a listing that bypasses the traditional underwriting process — on Thursday, June 20, and it’ll be the latest unicorn to launch into the public markets. On Wednesday, the NYSE set a reference price of $26 per share, a figure that places Slack’s valuation at roughly $16 billion. In a season of many attention-grabbing IPOs, Slack’s financial picture draws comparisons to…

Cybersecurity Firm Crowdstrike Files for an IPO

Crowdstrike Inc., a cybersecurity firm based in Sunnyvale, Calif., is the latest unicorn to file paperwork to go public. In its S-1 filing, Crowdstrike reported approximately $249.8 million in total revenue last year and a net loss of $140 million. The majority of its revenue, equivalent to $219.4 million last year, comes from selling subscriptions with the rest derived from professional services. It also reported year-over-year growth of 137% in subscription revenue and 2,516 subscription customers as of January 31. In a competitive market for cybersecurity services, Crowdstrike specializes in endpoint security, which guards…

Uber’s Weak IPO Could Shine a Harsh Light on Other Tech Unicorns

After all that, Uber’s IPO was a dud. The ride-hailing giant, once the most valuable private tech firm in the world, limped its way into the public markets on Friday. After kicking off trading at $42 per share — below its initial offering price of $45 per share — it had fallen to $41.57 by market close on Friday. And on Monday, Uber’s (UBER) stock extended those losses even further with an 11% slide as of the late afternoon. So what does Uber’s lackluster IPO mean for the remaining unicorns expected to…

Insiders Got Rich in Uber’s IPO, But Many Retail Investors Shied Away

Plenty of stakeholders got rich in Uber’s IPO, but everyday investors seemed a tad wary in Uber’s first day of trading. The much-hyped public offering fell flat in its first day of trading. Uber’s (UBER) stock closed at $41.57, below its opening price of $42 and 7.62% lower than its initial offering price of $45 per share. Many new millionaires and billionaires were minted among Uber’s founders, major stakeholders and early employees, but activity among retail investors was somewhat muted compared to other blockbuster tech IPOs in recent history. According to TDAmeritrade, the widely-used trading platform that…

Uber Prices IPO at $45 per Share

Uber has priced its initial public offering at $45 per share.  That figure is near the bottom of the $44 to $50 range that Uber initially set in an S-1 filing. The finalized price was first reported by The Wall Street Journal.   A $45 per share price would value the company at about $82 billion, a lower valuation than earlier reports had suggested. The company will raise about $8 billion in the deal. The $82 billion valuation figure makes Uber the largest IPO since Alibaba (BABA – Get Report) went public…