IPOs

Anaplan hits the ground running with strong stock market debut up over 42 percent

You might think that Anaplan CEO, Frank Calderoni would have had a few sleepless nights this week. His company picked a bad week to go public as market instability rocked tech stocks. Still he wasn’t worried, and today the company had by any measure a successful debut with the stock soaring up over 42 percent. As of 4 pm ET, it hit $24.18, up from the IPO price of $17. Not a bad way to launch your company. Stock Chart: Yahoo Finance “I feel good because it really shows the quality of the company, the business model that we have and how we’ve been able to build a growing successful business, and I think it provides us with a tremendous amount of opportunity going forward,” Calderoni told TechCrunch. Calderoni joined the company a couple of years ago, and seemed to emerge from Silicon Valley...

Trump Piles Pressure on Saudis Flummoxed by Oil-Price Increase

LISTEN TO ARTICLE SHARE THIS ARTICLE If the world’s biggest crude exporter says it’s going to ramp up production, prices usually drop. But as Saudi Arabia adds barrels before its customers get burned, prices have jumped. And Donald Trump isn’t happy. The U.S. president tweeted on Saturday that the Saudi king had agreed to raise production to cut the cost of oil for consumers. While the White House later backpedaled from his assertion, Trump on Sunday compounded the pressure, demanding that OPEC stop what he called its manipulation of the oil market and insisting the group pump more. Saudi Arabia last month led the Organization of Petroleum Exporting Countries and allies including Russia into a deal aimed at cooling prices. While sticking to a 2016 agreement limiting output, they decided to...

Lessons from cybersecurity exits

Dear F0und3r: What a month this has been for cybersecurity! One unicorn IPO and two nice acquisitions – Zscaler’s great debut on wall street,  a $300 million acquisition of Evident.io by Palo Alto Networks and a $350 million acquisition of Phantom Cyber by Splunk has gotten all of us excited. Word on the street is that in each of those exits, the founders took home ~30% to 40% of the proceeds. Which is not bad for ~ 4 /5 years of work. They can finally afford to buy two bedroom homes in Silicon Valley. Evident.IO Investment Rounds and Return estimates Date Select Investors Round Size Pre Post Dilution Estimated Returns / Multiple of Invested Capital Sep 2013 True Ventures $1.5m $5.25m $6.75 m 22% 44X Nov 2014 Bain Capital $9.8 m $18.1m $28.0 m 35% 10.7X Apr 2016 Venrock $15.7 m $35.0 m $50...

IPOs are back, but for how long?

The first quarter is almost over, and despite Dropbox’s splashy debut on the public market earlier today, it was preceded by just two other U.S. tech companies to IPO in 2018: Cardlytics and Zscaler.  Will Dropbox turn things around? Will the fact that Spotify is readying its debut get the momentum going at long last? It all depends on how Dropbox and Spotify perform and how they impact what’s known as the IPO window. When new issuers perform well, it typically swings wide open. When they don’t, well, it gets slammed shut. At this point, it’s been four years since we had an IPO window big enough for a stream of companies to pass through. In 2013, 50 tech companies went public. In 2014, the number was 62. Things grew chillier after that, with just 31, 26 and 27 companies getting out the win...

Enterprise subscription services provider Zuora has filed for an IPO

Zuora, which helps businesses handle subscription billing and forecasting, filed for an initial public offering this afternoon following on the heels of Dropbox’s filing earlier this month. Zuora’s IPO may signal that Dropbox going public, and seeing a price range that while under its previous valuation seems relatively reasonable, may open the door for coming enterprise initial public offerings. Cloud security company Zscaler also made its debut earlier this week, with the stock doubling once it began trading on the Nasdaq. Zuora will list on the New York Stock Exchange under the ticker “ZUO.” Zuora CEO Tien Tzuo told The Information in October last year that it expected to go public this year. Zuora’s numbers show some revenue growth, with its subscriptions services continue to grow. But...

Saudi Arabia Blocks Some German Business Over Rift

Saudi Arabia is cutting back on its dealings with some German companies amid a diplomatic spat with its top European trading partner, according to people with knowledge of the matter. Government agencies have been told not to renew some non-essential contracts with German firms following comments made in November by Germany’s then-foreign minister, Sigmar Gabriel, two of the people said, asking not to be identified because the matter is private. Essential business is continuing as normal, they said. Crown Prince Mohammed bin Salman. Photographer: Luke MacGregor/Bloomberg Saudi Arabia’s tensions with Germany mark its first open spat with a European ally since 2015, when it briefly recalled its ambassador to Sweden. The kingdom has been adopting a more assertive foreign policy with the rise ...

Russian Oligarchs on U.S. Treasury List Facing Added Scrutiny

Russia’s billionaire oligarchs are beginning to face additional scrutiny on at least some financial transactions following U.S. publication of a list of wealthy Russians identified as allies of President Vladimir Putin. One wealthy Russian on the list who spoke on condition of anonymity said he’s worried a deal with foreign partners expected to close in the next few months may collapse. Another said his reputation has been seriously damaged since the Treasury Department released a congressionally mandated report last week naming 210 Russian billionaires and top government officials. The Financial Integrity Network, a Washington-based firm that advises banks and other businesses on illicit finance threats, urged clients to scrutinize transactions involving anyone on the list. The firm sugge...

Trump’s SEC Mulls Big Gift to Companies: Blocking Investor Suits

In its determination to reverse a two-decade slump in U.S. stock listings, a regulator might offer companies an extreme incentive to go public: the ability to bar aggrieved shareholders from suing. The Securities and Exchange Commission in its long history has never allowed companies to sell shares in public markets while also letting them ban investors from seeking big financial damages through class-action lawsuits. That’s because the agency has considered the right to sue a crucial shareholder protection against fraud and other securities violations. But as President Donald Trump’s pro-business agenda sweeps through Washington, the SEC is laying the groundwork for a possible policy shift, said three people familiar with the matter. The agency, according to two of the people, has private...

Xi Jinping’s Debt Clampdown Has Left a Trail of Dead Projects

A pile of rusty pipes and materials are all that remain of Lanzhou New Area’s tram project. Only a year ago it was a flagship public-private partnership for the planned city in Central China, before it fell victim to President Xi Jinping’s debt clampdown. “The project is dead,” said a guard at the office, who gave only his surname, Le. Nearby, the tram tracks are paved over, the mismatched lines of asphalt scarring a six-lane road that leads to a dead end on the edge of one of China’s most ambitious urban developments. A truck unloads earth as residential towers stand in the distance in Lanzhou New Area. Photographer: Jeff Kearns/Bloomberg The size of New York City, the zone is a satellite of Lanzhou, capital of China’s poorest province, Gansu, and a place where Xi’s efforts to...

Equity podcast: 2017 IPO recap and who will go public in 2018?

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week the crew — Katie Roof, Matthew Lynley, Alex Wilhelm — were joined by Barrett Daniels, the CEO of Nextstep Advisory, an IPO shop that helps companies go public. Guess what we talked about? Yes, we went back through the biggest debuts of 2017, several of the quiet hits and the laggards. We also answered critical questions like “what was the worst IPO of 2017?” (For more results, check the spreadsheet here.) And, it being our holiday episode, we played a bit of what if. Or what may be, looking into 2018. After all, some IPOs that we expected to see have yet to appear (Vice, Pinterest, Dropbox), while some have cropped up before we thought that they were pr...

Watch These People in 2018

Bloomberg Businessweek November 30, 2017, 5:00 AM EST It’s hard to say what the Bloomberg 50 will look like in December 2018. But the people below—nominated, in some cases, by our Bloomberg 50 honorees—are all burnishing their credentials. Clockwise from top left: James Jebbia; Kamala Harris; Kyunghyun Cho; Carolyn McCall; Hannah Alper; Melina Matsoukas.   Kyunghyun ChoAssistant professor, NYU; research scientist, Facebook AI ResearchNominated by Geoffrey Hinton Cho works in a subfield of artificial intelligence called natural language processing, designing processes to make translation algorithms faster and more accurate. “He’s had a huge impact on machine translation,” Hinton says. Carolyn McCallCEO, ITV McCall, who takes charge of Britain’s biggest commercial broadcaster in January, com...

May Vies With Trump for Aramco Listing

U.K. Prime Minister Theresa May said London is “extremely well-placed’’ to win a planned stock exchange listing by Saudi Arabia Oil Co., as she competes against U.S. President Donald Trump for the coveted initial share sale by the world’s largest crude producer. The company, known as Aramco, is mulling an international sale in addition to a listing on the Saudi exchange. Trump earlier this month tweeted his hope that the Saudis would use a U.S. exchange, before lobbying Saudi King Salman personally on a phone call. “I think London is extremely well-placed’’ to secure the listing, May told reporters on the plane when asked how confident she was that London would secure the share sale. That’s “not only for its importance as an international financial center, it’s also technically well-placed...

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