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Slack announce direct Listing, Will not go for traditional IPO

29Apr By AdityaNo Comments

Market

Slack announce direct Listing, Will not go for traditional IPO

Slack Technologies, Inc. announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed public listing of its Class A common stock. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions. As per the information, Slack opt for a direct listing as opposed to a traditional IPO. This kind of listing gives other small investors to sell their shares to large investors - a strategy which follows for early trading. Slack is hoping for a valuation of more than $10 billion in the listing. However, the company did not specify the exact number of shares for the listing. Founded in 2013, Slack allows teams and ...

Pinterest offers $15-$17 per share in IPO, Values below than $12 billion

8Apr By AdityaNo Comments

Market

Pinterest offers $15-$17 per share in IPO, Values below than $12 billion

Social media platform Pinterest Inc set a price range of $15 to $17 per share for its IPO valuing it below than the $12 billion at which the company raises the last funding in 2017. Pinterest offers 75 million shares through its IPO. After this proposal, the company valuation will be at $10.6B vs previous valuation of $12.3B Earlier, Reuters had reported that Image search social media platform Pinterest list itself on the New York Stock Exchange under the symbol “PINS”. The company, which owns the image search website known for the food and fashion photos that its users post, reported annual revenue of $755.9 million in 2018, up 60 percent from a year earlier. But it remains unprofitable even though its net loss narrowed to $62.97 million in 2018 from $130 million a year earl...

Lyft valued at $24.3 billion in first ride-hailing IPO

29Mar By reutersNo Comments

Market

Lyft valued at $24.3 billion in first ride-hailing IPO

Lyft Inc was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup, raising more than it had set off to do as investors overlooked uncertainty over its path to becoming a profitable company. Lyft's IPO sets the stage for the stock market debut of larger rival Uber Technologies Inc, which Reuters has reported will kick off in April. Uber has been told by its investment bankers that it could be valued at as much as $120 billion. The success of the IPO came despite Lyft's steep losses, criticism of its dual-class share structure and some concerns over its strategy for autonomous driving, for fear of missing out on the company's strong revenue growth. "In a good market, people look beyond things. They don't see the problems as much," said Brian H...

23Mar By AdityaNo Comments

Market

Pinterest files for IPO on NYSE

Pinterest, an image sharing platform with an estimated 250 million users, filed for a public share offering Friday, the latest of the big venture-backed startups to hit Wall Street. The San Francisco-based bulletin board that connects people with interests including food, fashion, travel and lifestyle said it would trade under the symbol PINS on the New York Stock Exchange. "Pinterest is where more than 250 million people around the world go to get inspiration for their lives," the company said in its filing with the Securities and Exchange Commission, which is expected to seek a valuation of around $12 billion. "They come to discover ideas for just about anything you can imagine: daily activities like cooking dinner or deciding what to wear, major commitments like remodeling a ho...

RCom shares zoom 10% after payment to Ericsson

19Mar By PriyankaNo Comments

Market

RCom shares zoom 10% after payment to Ericsson

Shares of Reliance Communications zoomed 10 per cent Tuesday after the company cleared dues of a Swedish service provider at the eleventh hour. The scrip jumped 10 per cent to Rs 4.40, its upper circuit limit, on the BSE. At the NSE, shares rose sharply by 10 per cent to Rs 4.40. Embattled billionaire Anil Ambani Monday warded off a possible jail term as RCom cleared dues of a Swedish service provider at the eleventh hour with money received from elder brother Mukesh and his wife Nita, whom he thanked for standing by him in trying times and extending "timely support".Anil's heavily debt-laden Reliance Communications made a Rs 550 crore payment, including interest, to Ericsson just a day before the expiry of the deadline set by the Supreme Court of India to clear dues or face a thr...

Lyft beats bigger rival Uber, File for $2 billion IPO

18Mar By PriyankaNo Comments

Market

Lyft beats bigger rival Uber, File for $2 billion IPO

USA based online cab aggregator platform Lyft beat bigger rival Uber Technologies in filing for an IPO. JPMorgan Chase & Co, Credit Suisse and Jefferies managing Lyft's IPO. Founded in 2012, the San Francisco based company currently valued at about $15 billion. The cab sharing platform was founded by John Zimmer and Logan Green. However, Lyft did not specify the number of shares in a filing with the Securities and Exchange Commission. Lyft company is planning for the roadshow to fetch the interest of investors due to escalating trade tensions between the United States and China, which causes turmoil in the financial markets. Investors main concern is the recent stock market weakness that could result in reduced interest in their road shows or fail to fetch them a reaso...

Tesla Selling Shares to raise Money for Car Delivery Trailers

12Mar By PriyankaNo Comments

Market

Tesla Selling Shares to raise Money for Car Delivery Trailers

Tesla selling $13 million worth of stock to buy trucks and trailers that will transport its electric vehicles to customers. After online only order this is the second big announcement from Tesla to improve its delivery services. In new security filing on Monday, Tesla issued $13.8 million worth in stock. Tesla offers 49,967 shares at a maximum price of $277.05 a share as of February 12 to buy the trailers. Tesla’s statement within the securities filing: As part of Tesla’s ongoing logistics strategy to increase its vehicle transport capacity, reduce vehicle transportation time, and improve the timeliness of scheduled deliveries, Tesla agreed to issue shares of Tesla’s common stock in connection with its acquisition of certain car-hauling trucks and trailers from Central Valley A...

14Jan By AnkitaNo Comments

Market

India’s Supermarket Chain D-Mart shares down nearly 10% post Q3 earnings

Shares of Avenue Supermarts, which runs the D-Mart supermarket chain, slumped nearly 10 percent today after its December 2018 quarter earnings failed to cheer investors. On NSE, shares of the company tumbled 9.90 per cent to Rs 1,416. Avenue Supermarts Saturday posted 2.1 percent jump in its net profit to Rs 257 crore for the December 2018 quarter. The company had reported a net profit of Rs 252 crore in the corresponding quarter a year ago, it said in a BSE filing. While the gross margin impact of its now-known strategy of driving higher throughout its stores by lowering prices across categories has been built into forecasts, the disappointment this time round was led by a surprisingly sharp surge in other expenses' (45 per cent), it said. "DMart's other expenses have rarel...

Hong Kong based Fit Boxx Files for US IPO

29Dec By Gauri SinghNo Comments

Market

Hong Kong based Fit Boxx Files for US IPO

China's Fit Boxx Holdings, which sells beauty, fitness and health care products and devices, is looking forward to raise about $20 million in an initial public offering (IPO) on the US stock market. The company is planning to offer its IPO of 2,500,000 ordinary shares (or 2,875,000 ordinary shares if the underwriters exercise their over-allotment option in full) at a price range of $7.50 to $8.50 apiece. The company anticipates to be listed on the Nasdaq under the ticker symbol of "FBOX." WestPark Capital is the sole bookrunner on the deal. Founded in 2009, the Hong Kong-based company is specialized in the sourcing, marketing, selling and distribution of a variety of beauty device products and fitness and health care products, which are mainly for home use, under various bran...

Sports Tech Company Golflan Plans to go Public

20Dec By Gauri SinghNo Comments

Market

Sports Tech Company Golflan Plans to go Public

A sports tech company called Golflan which is focused on golf announced its plans of going public by 2020 by launching an IPO, expecting its current streak of growing at 100 per cent annually to continue. It has been stated that the company was on track to close this year with revenues of $6million as against $3million last year. “We are breaking even operationally and will look at listing the company once we hit a revenue run rate of Rs 100 crore,” said Dhruv Verma, CEO Golflan. He has also estimated that Golflan would be at a revenue run rate of Rs 50 crore by 2019, and between Rs80-100 crore by 2020. Also, he is currently in talks with merchant bankers on how they could go ahead with this. As of now, the company has been focused on the b2b side of the g...

China’s Tencent Music Secures $1.1 Billion in US IPO

12Dec By Gauri SinghNo Comments

Market

China’s Tencent Music Secures $1.1 Billion in US IPO

China’s largest streaming company, Tencent Music has raised $1.1 billion in a U.S. IPO after it priced its shares at $13 a piece ahead of a listing on the Nasdaq. This development makes it one of the largest tech listings of the year, but the pricing is at the bottom end of its $13-$15 range indicating that the much-anticipated IPO has felt the effects of an uncertain market. The company is said to have paused the listing process, which it started in early October, for a time so choppy are the waters right now — and that’s not even mentioning a shareholder-led lawsuit that was filed last week. The company operates a constellation of music streaming services in China which span orthodox Spotify-style streaming as well as karaoke and live-streaming ser...

Cab Aggregator Uber Secretly Plans an IPO

10Dec By Gauri SinghNo Comments

Market

Cab Aggregator Uber Secretly Plans an IPO

Soon after cab aggregator Lyft applied for nearly 2019 initial public offering, Uber is on the same path and the company issecretly planning to file for an IPO, marking the beginning of a race for thetwo ride-hailing giants to the stock markets. Most recently,Uber’s private market valuation was a whopping $72 billion value. Founded in2009, Uber has raised a total of nearly $20 billion in a combination of debtand equity funding. Uber’s currentchief executive officer Dara Khosrowshahi previously said he expected the company to completean IPO in mid-2019 but today’s news puts Uber on pace to debut in the firstquarter of next year. “[Uber] has allthe disadvantage of being a public company, with the spotlight on us, with none of the advantages,” Khosrowshahi said. The comp...