Twitter's Secret Weapon for IPO: Facebook When asked in a recent interview about his advice for Twitter 's possible IPO, Facebook co-founder and CEO Mark Zuckerberg joked that he would probably be the "last" person one would want to consult on "how to make a smooth IPO.
Editor’s note: Glenn Solomonis a Partner with GGV Capital . Some of his recent investments include Pandora, Successfactors, Nimble Storage, Isilon, Domo, Square, Zendesk, Quinstreet and AlienVault. His personal blog, goinglongblog.com , focuseson growth-stage entrepreneurs who are thinking big. Follow him on Twitter @glennsolomon .
Update: There has been some pushback about this post, and I think a note is in order. My financial accounting source says that the main premise checks out, but that because I only looked at the S-1 document, I could have missed the impact of potentially extant private contracts between the banks in question and the company. This could lead to caveats, price controls, and the like.
It was once a rare practice, but employees are now finding more ways to unload vested shares in their startups along the way. While employers have typically tried to control these sales, a new marketplace called Equidate is opening up that will let employees sell equity with or without the startup’s consent (although Equidate would prefer to collaborate with employers).
Facebook’s share price tanked upon IPO, scaring plenty of private companies away from the public markets. But with its eventual recovery and now the stellar performance of Twitter’s IPO out the gates, the Wall Street bell suddenly has a much nicer ring to it.Just in the last few days we’ve heard of Square, Box, and Seamless moving forward with IPO plans.Now, a soaring share price isn’t always a good thing, and a sinking one isn’t all bad depending on a company’s intentions.
Twitter has just announced via an S-1 amendment that “the Company entered into a revolving credit agreement with certain lenders which provides for a $1.0 billion revolving unsecured credit facility maturing on October 22, 2018.” Twitter also listed out financials for its acquisition MoPub, including that it brought in $6.51 million in revenue in the six months ending June 30th 2013.
Things at Google are pretty peachy these days.The company's stock outpaced Q3 earnings yesterday, shooting its stock up over $1,000 per share. And recently released data suggests that Google is the largest provider of online advertisements by an almost comically wide margin — more than 200 billion monthly ad impressions above its next rival.
"Investors often ask us about the sentiment on Apple (AAPL)," said Morgan Stanley's Katy Huberty in a recent note to clients. "The qualitative answer is that sentiment is negative as most funds question Apple's ability to grow revenue long-term.
As the real estate market regains some life after an extended dip, people are beginning to get comfortable with the idea of selling their home again and, in turn, getting comfortable with looking around for that special place.
The stock market brouhaha around cloud-based storage and collaboration is about to begin: Mark DeCambre at Quartz is reporting that Box has secretly filed for its initial public offering with the US Securities and Exchange Commission. According to Quartz's sources, the company has reached out to Morgan Stanley, Credit Suisse, and JP Morgan Chase to help underwrite its stock offering.
King.com, the maker of mobile game Candy Crush Saga, has filed for a "secret" IPO in the U.S., according to The TelegraphThe public offering of stock promises to be the biggest casual game company deal since EA bought PopCap in 2011 for $1.3 billion.Few financial details are available, but it was turning over around £300m at the start of this year and has grown rapidly since then.
Tesla took a drubbing in October and November last year, but the stock is gathering steam again. After reporting solid Q4 deliveries, the stock went on a tear on Tuesday. Morgan Stanley's Adam Jonas who has an overweight rating on the stock, cranks up the argument in favor of Tesla another notch.
A new seed-stage investment fund and ‘company creation’ startup called BrandProject launched today, with offices in Toronto and New York, and a team of founders who, between them, have a boatload of experience building, shipping and marketing consumer hardware and software for some of the biggest brands on the planet.
In the winter of 2011, Eric Frenkiel was working at Facebook as an engineer making tons of money and sitting on lots of pre-IPO stock options. Then he, along with fellow Facebook engineer Nikita Shamgunov, walked away. They left to found a startup called MemSQL, which is taking on giant Oracle with a faster, cheaper database. He was 25.
Social gaming firm Zynga today plunged 12 percent in regular trading, following a warning bySterne Agee’s Arvind Bhatia , whichindicated that the market’s fourth-quarter consensus may be too optimistic.
Report: Twitter Seeks $1 Billion Line of Credit Twitter is reportedly seeking a line of credit between $500 million and $1 billion leading up to the company's IPO, according to the New York Post . The tactic is similar to one used by Facebook during it's pre-IPO run in 2012, and the money could be used to help Twitter expand even further in the months immediately before hitting the market.
Nest, the company that makes the Web-connected thermostat, will now allow developers to integrate their apps with the device.There's a Google Talk glitch that will send your instant messages to the wrong person.You can set up your Apple TV just by tapping your iPhone against it.Pebble, the smart watch that raised millions on Kickstarter, is now available through AT&T for $150.Nokia will announce six new devices on October 22.Twitter reportedly added J.P. Morgan and Morgan Stanley as bankers for its IPO.You might have to wait until spring 2014 to get a "mini" Surface tablet from Microsoft.
Tuniu has raised over $60 million in venture funding from investors including DCM, Gobi Partners, Sequoia Capital, Highland Capital Partners, and the Tokyo-based Internet services company, Rakuten Inc.