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China’s English Learning Platform LAIX Debuts on NYSE

28Sep By Gauri SinghNo Comments

Market

China’s English Learning Platform LAIX Debuts on NYSE

China’s AI-based English learning platform LAIX Inc has debuted on the New York Stock Exchange (NYSE) with its initial public offering (IPO), trading under the ticker symbol of "LAIX." The company priced its initial public offering of 5,750,000 American depositary shares (ADSs) at $12.50 per ADS. The total offering size was roughly $71.9 million. Along with this, LAIX has granted the underwriters an over-allotment option, exercisable within 30 days. "Listing on the NYSE will make LAIX a more international company, which can help us attract customers all over the world, as we believe our English learning platform driven by AI not only can serve Chinese English learners, but also can help English learners in other countries," said Yi Wang, chairman and chief executive officer of LAIX. ...

22Sep By Gauri SinghNo Comments

Market

All You Need to Know About US-based Eventbrite’s Much-awaited IPO

San-Francisco based online ticketing platform Eventbrite (EB) has finally launched its much-awaited IPO. The shares of the company soared as high as 70 percent in its stock market. The shares opened at $36 and climbed as high as $39.30 before ending the session 59 percent up at $36.50. Eventbrite’s stock has been listed on the New York Stock Exchange (NYSE) under the ticker EB. The firm at the initial stage priced its offering from $19 to $21 per share, but due to its high demand, it raised the final offering price to $23 per share. With this price, the company was successful in raising funds amounting to $230 million. Founded in 2006 by married couple Julia and Kevin Hartz, Eventbrite has raised a total of $373 million in equity funding as of now. The entry of Eventbrite in the stoc...

Customer Service Software Firm Zendesk Launches a New Program for Startups

21Sep By Gauri SinghNo Comments

News

Customer Service Software Firm Zendesk Launches a New Program for Startups

NYSE-listed customer service software company Zendesk has introduced a new program for startups which would offer monthly credits for free access to their suite of products. The company stated that it will provide a monthly credit of $218 for twelve months, that is equivalent to one-year free access to Zendesk Suite's professional plan for two people. "The Zendesk Suite comes with a host of tools that can power a startup towards achieving its business goals and this will free up time for promoters to focus on their core expertise of building and scaling their respective businesses" said KT Prasad, Country Sales Director, Zendesk India. On the alternative basis, it can be used across the company's individual products like Support, Chat, Guide and Talk. Also, in addition to this, partic...

Despite of Data Controversy, Facebook Stock Closes All Time High

7Jul By PriyankaNo Comments

Market

Despite of Data Controversy, Facebook Stock Closes All Time High

The social media giant Facebook stock closes at an all-time record high of USD 203.23. Despite Cambridge Analytica data scam controversy, Facebook is still fetching a good number of returns. Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 after the scam controversy hits. Facebook revenue projections for 2020 at USD 87.5 billion. The firm currently has Facebook with a buy rating and a price target of $275. "Messenger has been deploying more ads in recent weeks and should be “highly material” to profits. And Instagram has reached 1 billion monthly active users," the company said today. ALSO READ: Online Startup SaleBhai Received BSE Approval for SME IPO After grabbing attention in 2012, Facebook has seen its stock rise...

Spotify Shares Open at $165.9 after unusual debut listing on NYSE

5Apr By Lavina TolaniNo Comments

Market

Spotify Shares Open at $165.9 after unusual debut listing on NYSE

Spotify Technologies shares went high and opened at $165.9 on Monday, which was nearly 26 percent above the reference point of $132 on its first day of trading.With an overall valuation of $165.9 billion on the first day, the estimation went a slightly higher than what analysts had predicted before the listing. During the first two months of 2018, the shares of world's leading music streaming service, Spotify, were traded between $90 and $132.5.While, in 2017, the range was even wider from $37.50 to $125.00. As per sources from Wallstreet Journal, Spotify's opening has turned out to be a record on New York Stock Exchange listing before which "Alibaba had opened at 11.53 am" on Tuesday. Spotify's unconventional move to direct listing has created a lot of talks in the share market s...

Snapchat Parent Working on IPO Valuing Firm at $25 Billion or More: Report

7Oct By reutersNo Comments

News

Snapchat Parent Working on IPO Valuing Firm at $25 Billion or More: Report

Photo-sharing app Snapchat's parent is working on an initial public offering that could value the company at $25 billion or more, the Wall Street Journal reported, citing several people familiar with the matter. Snap, which operates the app that lets users send videos and messages that disappear in seconds, is looking to sell shares as early as late March, the Journal reported. An IPO valued at $25 billion would be significantly higher than Snapchat's most recent valuation of $17.81 billion, based on a $1.81 billion financing round in May. It would also represent the largest IPO by a technology company since Chinese e-commerce giant Alibaba Group went public in 2014. Snapchat had been talking to investment bankers about an IPO towards the end of this year or early in 2017, technology we...

Year’s Biggest Tech IPO- Line Launch Goes Well

18Jul By PriyankaNo Comments

BUSINESS

Year’s Biggest Tech IPO- Line Launch Goes Well

Japan's Line Corp saw its shares rocket on their Tokyo debut, extending a strong start in New York the day before, and taking the value of the messaging app firm to $8.6 billion in the year's biggest tech IPO. The operator of the world's seventh most-used messaging app listed first in New York in a move widely seen as a sign of determination to challenge global peers and eventually expand beyond strongholds of Japan and Southeast Asia. However, Line's 218 million global monthly active users pale in comparison to the 1 billion of market-leader WhatsApp and 900 million of Messenger, both owned by Facebook Inc. Tencent Holdings Ltd's WeChat, which dominates in China, has 697 million. "We're providing the same kind of services as Facebook and Google, the internet giants of the world," Chi...