Author: Katie Roof

Will Spotify go public without an IPO?

The Wall Street Journal wrote a story that Spotify is “seriously considering” joining the stock market without an IPO. The news was also reported by Mergermarket. The idea would be to go public without the fundraising event, where employees and venture capitalists would sell their shares to investors directly. We are hearing that the plans have not yet been finalized, but that they are open to taking an unusual approach. If they opt to do the “direct listing” described by the WSJ, they would avoid paying fees to the underwriting banks and prevent further share dilution. They could also avoid the classic “leave money on the...

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Elevate Credit pulls off lending IPO

After postponing its IPO last year, Elevate Credit, the venture-backed lending company, went public on the New York Stock Exchange today. Elevate priced at $6.50 per share, closing the day up over 19% at $7.76, but this was still well below the expected range of $12 to $14. They decided to go through with the offering to take advantage of an open “IPO window,” with a strong investor appetite for newly public tech companies. “We started this IPO process a year ago in a really terrible market and it’s great to get it done,” said CEO Ken Rees. He was so excited...

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MasterClass raises $35 million for celebrity taught classes

If you want to learn something new, learn it from the master. That’s the thesis behind MasterClass, which offers tennis tips from Serena Williams, cooking advice from Gordon Ramsay and vocal training from Christina Aguilera. The startup offers online courses from leaders in their field, charging about $90 for the hours long sessions. Students also have access to the community and instructor Q&As. Venture capitalists are betting that this will become a big business, with IVP leading a $35 million Series C round. New investors Sam Lessin and GSV Acceleration joined, with NEA, Bloomberg Beta and others participating again. MasterClass is “building a modern...

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Alteryx rises 11% in data analytics IPO

Alteryx, the data analytics company, went public on the New York Stock Exchange today, marking the third IPO of the year. The company priced its IPO yesterday at $14 per share, and closed Friday at $15.50, or 10.7% higher. Alteryx works with clients like Amazon, Ford and Coca-Cola to help them better assess what products are selling and where there are market inefficiencies. CEO Dean Stoecker touted a high customer retention rate, which makes it easier to predict revenue. Stoeckher tells us that Alteryx prides itself with a “platform that’s easy to install and learn.” They work with a variety of industries...

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WayUp gets $18.5 million more to help college grads find jobs

Recent college grads need a better way to search for jobs. Or at least, that’s the thesis of New York-based WayUp, which recently raised $18.5 million in Series B funding to execute on this vision. Trinity Ventures, which led the investment, is also gaining a board seat via partner Karan Mehandru. Existing investors, including General Catalyst, Lerer-Hippeau Ventures and SV Angel also participated in the funding round. Originally an internship and job board for college students, WayUp now additionally targets the entry level workforce, a market that they believe is underrepresented. LinkedIn’s job search platform and sites like Indeed are geared towards every career stage....

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MuleSoft soars 46% on first day of trading

It’s the first enterprise tech IPO of the year and it’s off to the races. MuleSoft, which helps businesses like Netflix and Spotify with their APIs, closed at $24.75, a 46% premium to its IPO price of $17. This was after pricing above the expected range of $14 to $16. The company was able to raise $221 million in the IPO, but they could have raised a lot more if they priced it at $20. Bankers usually aim for 20-30% “pop” on the first day to start off on good terms with the stock market. If the company prices it too low that means they leave “money on the table.” This sounds a lot like Snap, which also priced above the range at $17 and went up almost as much on the first day of trading. But just two weeks later, Snap has already fallen beneath $20. It’s mainly institutional investors and high net-worth individuals with friendly relationships with the underwriting banks who got access at $17, as is the standard with IPOs. MuleSoft opened today at $24.25, so the $24.75 close means that ordinary investors saw pretty small gains. MuleSoft went public on the New York Stock Exchange on Friday under the ticker “MULE.” This is another win for the NYSE, after getting Snap’s listing. MuleSoft had $187.7 million in revenue last year, which is up from $110.3 million in 2015 and $57.6...

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Equity podcast: The return of IPOs and Tesla’s billion-dollar bet

One down, many more to go! The first episode of TechCrunch’s latest podcast, Equity, our venture capital-focused podcast is out. This week, TechCrunch’s Matthew Lynley, CrunchBase editor-in-chief Alex Wilhelm and I sat down with investor and SaaStr founder Jason Lemkin to talk about Tesla’s $1 billion raise, the return of IPOs and recent acquisitions in the technology space. Equity drops every Friday at 6:00am PT, so subscribe to us on iTunes, Overcast, Pocketcast, Downcast and all the...

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Equity podcast: The return of IPOs and Tesla’s billion-dollar bet

One down, many more to go! The first episode of TechCrunch’s latest podcast, Equity, our venture capital-focused podcast is out. This week, TechCrunch’s Matthew Lynley, CrunchBase editor-in-chief Alex Wilhelm and I sat down with investor and SaaStr founder Jason Lemkin to talk about Tesla’s $1 billion raise, the return of IPOs and recent acquisitions in the technology space. Equity drops every Friday at 6:00am PT, so subscribe to us on iTunes, Overcast, Pocketcast, Downcast and all the...

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