Musings on Markets

OCTOBER 4, 2023

In the first half of the year, we had positive surprises on both fronts, as inflation dropped after than expected and the economy stayed resilient, allowing for a comeback on stocks, which I wrote about in a post in July 2023. Seven companies (NVIDIA, Apple, Microsoft, Alphabet, Meta, Amazon and Tesla) account for $3.7

Marketability 104

Marketability Start-ups Risk Premium Treasury 104

Lighter Capital

FEBRUARY 12, 2024

Terms can include board seats for investors, convertible notes, liquidation preferences, and preferred stock. Pre-money, they believe their company valuation is $5M, which puts their stock price at $0.50/share. They wish to retain 60% ownership (or 6M shares), leaving the remaining 20% (2M shares) for employee stock options.

Equity 52

Equity Start-ups Finance Marketability 52

Musings on Markets

APRIL 21, 2022

A few weeks later, the offering price for Twitter's shares was set at $26, by its bankers, and the stock debuted on November 7, 2013, at $45. In the weeks after, that momentum continued to carry the stock upwards, with the price reaching $73.31 Like Twitter, Snapchat had a rousing debut in the market, rising 40% to hit $24.48

Start-ups 99

Start-ups Marketability Technology Market Capitalization 99

Musings on Markets

DECEMBER 2, 2020

In this post, I will argue that there are good reasons for Airbnb's IPO timing, and make my first attempt at valuing this latest entrant into public markets. While some of that money has been spent on internal improvements, much of it has been spent acquiring more than two dozen companies, most of them small, technology businesses.

Start-ups 52

Start-ups Marketability Equity Market Capitalization 52

Musings on Markets

DECEMBER 15, 2021

Each semester, I step into a classroom wanting to teach the “best” class that I ever have, perhaps even the perfect class, knowing fully well that I will fall short, in practice, because there will be things to improve. Classes I am a dabbler, not a specialist, and my teaching reflects that predisposition.

Corporate Finance 56

Corporate Finance Finance Start-ups Technology 56

Musings on Markets

NOVEMBER 1, 2023

That attention has worked in the company's favor over much of its lifetime, as it has gone from a start-up to one of the largest market cap companies in the world, disrupting multiple businesses in the process.

Start-ups 114

Start-ups Marketability Market Capitalization Equity 114

Musings on Markets

SEPTEMBER 19, 2023

After years of rumors of an imminent IPO, Instacart has finally filed for a public offering of it’s shares, aspiring to raise about $600 million from markets, at a pricing of about $9-$10 billion for its equity. Kroger's and Albertsons, the two largest grocery story chains, have also improved their standing.

Start-ups 102

Start-ups Marketability Technology Equity 102