Airbnb just filed for an IPO. What are your thoughts - good move, bad move?
I am curious to see the price ranges, number of shares and who will be involved. Any guesses?
https://www.cnbc.com/2020/08/19/airbnb-has-filed-confidential-ipo-paperwork.html
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Personally, without digging to far into them. This seems like a cash grab to try and stay ahead of what might be a "forecasted" bad times. Granted they have been a big name and they were probably on track to IPO at any point in time. I will not be touching them as I think they will follow a similar trend to the Uber IPO (AKA downward from day one). Maybe in the future I will hold them in my portfolio, but we'll see.
Definitely a fire extinguisher IPO. They’re strapped on cash and trying to raise capital and keep the faith alive. Probably one of the worst missed opportunities not going public last year lmao.
I also thought I read somewhere that GS/MS would be involved in the underwriting. No details beyond that but it seems typical.
Whatever happens:
1. This is a long term short, but that short term jump (first week) in price is going to be Chad-tier
2. Generally speaking, a dangerous investment granted the current environment
3. Probably Goldman or Qatalyst
That's it for my speculation on it.
Q does IPOs??
No they don't, prob a mistake
Clearly an intern in Industrials intern that obviously doesn’t know what he’s talking about here. Qatalyst doesn’t do IPOs
True but you do realize Ind means Industry/Coverage, not industrials
They screwed up not going public already. This is more reactive than anything in my mind. A ton of their employees have options expiring.
Eh, seems like piss poor timing and I don’t seem them reversing the losses from the pandemic’s initial hit anytime soon.
Personally, I’m far more excited for Palantir’s IPO
Palantir isn't doing an IPO. It's a direct listing
Correct, sentiment still stands but yes I mean DPO.
Reminder to all that while they're certainly facing pressure due to COVID a big reason they are going public now is because many employee's stock options are expiring by EOY. Internal pressure to cash out for the employees that have been there from the start
Wonder why didn't go for the SPAC deal, it was rumored to be happening a month ago
The company wants/needs cash in the coffers.
IMO, a prime example of a company that should merge with a SPAC. The problem was probably that it would've been too big of a discount to the $32b or whatever the valuation was a few months ago...tough pill for investors to swallow.
Hmm I dunno, one of the problems with SPACs is that there's no public filings and due diligence that the public can do. These pre-revenue unicorns are kinda suspicious in my opinion. For example, what if AirBnB ends up being the next WeWork after the reverse merger>
Air BnB was profitable afaik. Pretty dumb to compare to wework
SPACs file investor presentations and hold conference calls / management meetings with public investors. People who support the deal via PIPE also get dataroom access, so not sure what you're talking about.
Ah you must be one of the Robinhood traders with no idea how SPACs work. Once the deal is announced publicly they file the proxy before the vote...
Do we know what valuation they filed at?
bump on this question
You don't file confidentially with a valuation
MS and GS are lead bookrunners
MS beat out GS to be the lead bookrunner
Agree with above sentiment - think it has become apparent that they will not return to pre-COVID levels for some 2-3 years (maybe longer) and might as well strike the iron whilst it is hot (albeit not as hot as twelve months ago).
It is a lot easier to speak to instos about one bad year today vs. 3 consecutive bad years in 2 years time...
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