The hottest IPO Substack posts right now

And their main takeaways
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Top Finance Topics

What if the Current Tech IPO Drought isn't a Drought but the New Normal for Venture?

Venture Reflections • 18 implied HN points • 25 Feb 25
💼 Business Venture Capital Startups IPO Finance Investment
  1. The slowdown in tech IPOs might not be a temporary issue, but rather a shift to fewer, larger IPOs that happen less frequently. This could change how we view the IPO landscape.
  2. Many companies are now able to raise enough money privately, so they don't feel the need to go public. This reduces the urgency for IPOs as a source of liquidity.
  3. As companies wait longer to go public, secondary sales could become the main way smaller investors get returns. This change means that the investment landscape might focus more on private equity than on public markets.

Notes on Chapter 30

Life Since the Baby Boom • 461 implied HN points • 19 Dec 24
🕹 Technology Internet IPO Software Business Innovation
  1. Netscape going public marked a big moment, but it wasn't an instant fortune for everyone involved. There were rules that kept employees from cashing out right away.
  2. When IPOs happen, share prices can soar initially due to limited availability. But once the lockup ends, prices often drop sharply, leading to disappointment.
  3. Not everyone realized the Internet's impact back then, and many were oblivious to its potential. While some like Bill Gates recognized it as a threat, others lagged behind in understanding.

ServiceTitan S-1 Breakdown

Tanay’s Newsletter • 82 implied HN points • 05 Dec 24
💼 Business Finance SaaS IPO Growth Technology
  1. ServiceTitan is a software company that helps tradespeople like plumbers and electricians run their businesses better. They provide tools for managing customer relationships and service workflows.
  2. The company has been growing quickly, with a revenue increase of 24% in the last year. They make money from subscriptions, payment processing fees, and professional services.
  3. ServiceTitan is preparing for an IPO and plans to manage investor concerns about profitability. They have strategies in place to handle potential valuation drops and minimize shareholder dilution.

What's Next for SAS? (Again)

thomaswdinsmore • 199 implied HN points • 02 Jun 24
💼 Business Companies IPO Leadership Finance Growth
  1. SAS founder Jim Goodnight faces a transition in leadership and ownership as he's 82 with no children engaged in the business.
  2. Options for SAS's future include selling to employees, a corporate buyer, or private equity investors, all of which may lead to restructuring.
  3. Despite initial plans to go public, SAS has faced challenges with growth and profitability, leading to multiple delays in the IPO process.

Raising Heel

HIDDEN.RSRCH • 569 implied HN points • 12 Oct 23
💼 Business Fashion IPO Brand
  1. Birkenstock has filed for an IPO after being a long-standing orthopedic shoe company.
  2. The company's value is high due to consistently making quality products.
  3. The journey to success for Birkenstock has been traditional and focused on quality.
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Klarna's going public, and I'm excited as hell

Alex's Personal Blog • 65 implied HN points • 13 Nov 24
💼 Business Fintech IPO Investment Market Trends Financial Analysis
  1. Klarna is planning to go public, which is exciting news for the fintech industry. Their recent financial improvements and a strong market for BNPL companies are driving this move.
  2. Klarna's growth has been mixed, with rapid increases followed by significant losses in previous years. However, they have managed to reduce losses and improve revenue in the last year.
  3. The current market favors companies like Klarna due to rising stock prices in the fintech sector. This suggests that investors believe there will be less strict regulations on their lending practices.

Swiggy's IPO inches closer to trading, and is the stock market dangerously overvalued?

Alex's Personal Blog • 65 implied HN points • 11 Nov 24
💰 Finance Investing Markets Economics IPO Valuation
  1. Swiggy's IPO is almost finished and it's expected to have a very high valuation. Many people are excited about it, but there are some concerns too.
  2. The stock market might be overvalued right now, which could be risky for investors. It's important to stay informed about the market trends.
  3. There are various economic factors influencing the market, like changes in inflation and company performance. Keeping an eye on these factors can help investors make better decisions.

Good news, IPO edition

Alex's Personal Blog • 32 implied HN points • 12 Dec 24
💼 Business IPO Fintech Economics Market Trends Investment
  1. Coincheck, a Japanese crypto exchange, recently went public through a SPAC deal and its shares are doing well. Even though they raised less than expected, being valued above the traditional SPAC price is a positive sign.
  2. ServiceTitan's IPO priced at $71 per share, which is higher than its previous range, marking it as a success despite some concerns about its past valuation. It shows that good market conditions can help companies raise more money.
  3. The European economy is facing slow growth and has cut interest rates to help manage inflation. This situation reflects challenges in recovery and suggests that Europe may need to change its approach to improve its economic performance over time.

Reddit S-1 Breakdown

Tanay’s Newsletter • 164 implied HN points • 27 Feb 24
💼 Business Technology Finance Data AI IPO
  1. Reddit boasts a massive user base with 500M monthly active users but faces challenges in user engagement and monetization compared to platforms like Facebook and Snap.
  2. In terms of revenue, Reddit earns primarily from advertising, making $804M in 2023, but needs to address its high R&D spending to achieve profitability.
  3. Reddit holds valuable conversational data with 1 billion posts and 16 billion comments, making it attractive in the AI market; however, it must also navigate potential challenges where AI models could replace users asking questions on the platform.

Phoenix Puts UAE On Bitcoin Mining Map

Miner Weekly • 39 implied HN points • 23 Nov 23
🔮 Crypto Bitcoin Mining IPO Hardware Infrastructure Regulation
  1. Phoenix, a UAE-based bitcoin mining company, raised $370 million in an IPO on the Abu Dhabi Stock Exchange, highlighting growing interest in bitcoin mining in the region.
  2. Phoenix appears to focus more on hardware distribution rather than proprietary mining, indicating potential plans for diversification in the future.
  3. Key highlights of Phoenix's business include a sizeable team, impressive hashrate capacity, and a revenue stream primarily reliant on hardware sales.

Issue #95: X Is Getting Into P2P Payments, Circle Files For An IPO, And Revolut Gains Interest In Its HR Tech Offering

Fintech Radar • 18 implied HN points • 17 Jan 24
💰 Finance Fintech Payments IPO
  1. Twitter (X) plans to introduce peer-to-peer payments, a logical starting point given its large user base and commerce opportunities
  2. Revolut's HR platform, Revolut People, attracts over 300 companies to its waitlist, surprising with strong interest in the offering
  3. Mastercard is developing an AI tool for small businesses, showing a cautious approach amid a potential trend towards more AI-focused innovations in the market

Reddit - The Front Page of Internet

Termsheet by Attack Capital • 6 implied HN points • 27 Jun 23
💼 Business Social media Startups Revenue Market Performance IPO
  1. Reddit is a social news aggregation platform where users share content and discuss various topics.
  2. Reddit was founded in 2005 and has had a unique journey, including being sold and then becoming an independent entity again.
  3. Reddit has seen significant growth in revenue, especially from its advertising business, and has experienced fluctuations in its secondary market stock price.

Breaking down Databricks $500 Million Funding Raise

Machine Economy Press • 3 implied HN points • 19 Sep 23
💼 Business Funding Tech Companies Investments Startups IPO
  1. Databricks raised over $500 million with a valuation of $43 billion in a Series I funding round.
  2. Nvidia is backing multiple AI startups with significant investments, including Databricks, showcasing its commitment to the future of AI.
  3. Databricks, a mature and profitable startup founded in 2013, is likely to go public in 2024 or 2025, competing with Snowflake in the enterprise AI space.

From revenues to earnings: Operating, financing and capital expenses....

Musings on Markets • 0 implied HN points • 15 Jun 11
💼 Business Accounting Valuation Investment IPO Financial Analysis Finance Accounting Valuation Investment IPO
  1. Groupon reported high revenues but also significant operating losses, raising questions about their accounting practices. It's important to understand how companies measure their profits and expenses.
  2. Groupon claimed it would be profitable by using 'Adjusted CSOI,' which excludes customer acquisition costs. This approach may mislead investors about the company's true profitability.
  3. Reclassifying expenses can make a company's earnings look better, but it can also hide the real costs involved in growth. Evaluating a company's return on investment is key to understanding its value.

Vol. 4, No. 5 — r/IPO

Valuabl • 0 implied HN points • 01 Mar 24
💰 Finance Investment Market Stocks IPO Valuation
  1. Reddit is going public with an IPO, but details are vague - be cautious as expected valuation seems high
  2. Investors interested in Reddit's IPO should consider their portfolio and the offer price before deciding to buy shares
  3. Reddit has a successful platform and valuable data, but potential investors should be wary of the frothy expected valuation typical of IPOs

WebRay IPO on China STAR Market today with the stock code "688651."

CyberSecurityMew • 0 implied HN points • 26 Jul 23
💼 Business IPO Cybersecurity Network Security Technology Innovation
  1. WebRay, a leading network security firm in China, had a successful IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with a strong opening on its first day of trading.
  2. WebRay aims to bring order to cyberspace and focus on national security strategies, investing in research and development of network information security.
  3. WebRay is dedicated to offering innovative security products and solutions, aiming to be a growth-oriented and efficient digital network security provider in the new era.

Bangsun Tech terminates IPO!

CyberSecurityMew • 0 implied HN points • 06 Dec 23
💼 Business IPO Financial Services Regulations Tech industry
  1. Bangsun Tech terminated its IPO application with sponsors due to unresponsiveness and failure to update financial data as required by regulations.
  2. The company's IPO journey, from initial application to termination, lasted less than six months, highlighting the challenges faced in the process.
  3. Bangsun Tech, primarily operating in the financial sector, revealed concerning financial information in the prospectus, including significant losses and over ambitious fundraising plans.

China Securities Regulatory Commission Approves WebRay IPO!

CyberSecurityMew • 0 implied HN points • 01 Jun 23
💼 Business Cybersecurity IPO Technology Finance Regulation
  1. China Securities Regulatory Commission approved WebRay's IPO, focusing on cybersecurity technology and services.
  2. WebRay emphasizes 'Security First, Governance Foremost,' offering a range of cybersecurity products and services to users.
  3. The company emphasizes precision identification, accurate defense, and deep business integration to support national cyberspace security strategy implementation.

Stream On: An IPO Valuation of Spotify!

Musings on Markets • 0 implied HN points • 17 Mar 18
💼 Business Finance Market Analysis IPO Valuation Music Industry
  1. Spotify has experienced rapid growth, significantly increasing its user base and revenues in recent years. This growth is crucial as it shows the company's potential in the competitive music streaming industry.
  2. A large portion of Spotify's revenue comes from premium subscriptions rather than ad revenue, highlighting the importance of getting users to pay for better experiences.
  3. The company's content costs are declining as a percentage of revenue, which could help improve profit margins, but there is ongoing tension between keeping music labels and artists satisfied while managing costs.

Are you ready to value Groupon?

Musings on Markets • 0 implied HN points • 02 Nov 11
💼 Business Valuation IPO Finance Investment Market Analysis
  1. Groupon's initial estimated value dropped from $20 billion to around $12 billion due to management's credibility issues and concerns over customer acquisition costs. This shows how important a company's reputation is in the market.
  2. The company's revenue saw a huge rise of over 300% from 2010 to 2011, but sustaining that growth will be a challenge. It's crucial to be careful when predicting future growth for businesses.
  3. The valuation suggests that investing in Groupon is also a bet on the economy as it can profit from tough economic times. This makes it a unique business model that depends on different economic conditions.