IPOB Stock – Social Capital Hedosophia Holdings II (IPOB) Stock price
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Happy Saturday, everyone. It’s been a short week, but the sheer volume of news I’ve put up with in the last few days makes me feel pretty exhausted. Now let’s stop and talk about SPAC again.
No, we will not break down the SPAC investor presentation today. I will delve into about Babylon Health SPAC on Monday. Instead, we’re discussing blank-checking deals between SoFi and BarkBox.
Both started trading this week after announcing their public debut some time ago. And did things go well?It is here CNBC for the first few minutes of SoFi As a public company:
SoFi, which stands for Social Finance, was listed by merging with Social Capital Hedosophia Corp V, a blank check company run by venture capital investor Chamath Palihapitiya. Shares rose more than 12% to $ 22.65.
This is not only the victory of SoFi, but also the victory of the weakened Chamath Palihapitiya. Chamath Palihapitiya’s SPAC bets have diminished in recent months. Of course, all SPAC-led debuts are speculative, but some retail traders seem to be more indexed by Palihapitiya’s reputation than fundamentals.
BarkBox had no problems opening this week after completing its own SPAC combination. As Barron’s reported::
BarkBox’s share price subsequently gave up some of the rise, but managed to go public without falling below the original SPAC price. Given how market conditions have changed since the listing was first announced, this is a win.
Winning two in a week is good news for SPAC-land and the myriad of players on the market blank check and startup side. Obviously, the two solid results don’t create a trend, but it’s clear that for critically profitable companies, the SPAC route isn’t as perforated as we expected.
If SPAC is generally annoying, wait until the blank check boom merges with crypto. As we are trying to do!
This week, Circle, a company focused on cryptocurrencies that especially likes stable coins, Raised $ 440 MillionThis was a sea of capital for the most well-known company in USDC Stablecoin.that too Reportedly considering SPAC-led IPO..
What is a stable coin? It is a virtual currency pegged to legal tender. In the case of USDC, as you might expect, the coin is pegged to the US dollar. Stablecoin is a useful fiat currency in the world of cryptocurrencies and has proven to be very popular.
Circle’s USDC has a supply worth $ 22.8 billion in circulation, claiming billions of transactions daily, according to CoinMarketCap data. not bad! But for your humble servant, you don’t know exactly how the company will generate huge revenues with a very attractive gross margin. This is what you would expect from a company that locked down nearly $ 500 million (or perhaps USDC) of private capital at one time.
Therefore, please install SPAC once. Because, given our pure curiosity, we want to see that number.
Wrapping, Ron and I had to dig a lot. Financial reports of public companies the other dayIn essence, the proud digital transformation acceleration In fact, it is being realized in some companies.
Discussions continued in this week’s news. For example, Zoom’s earnings support our treatise.That income Increased by 191% In Q1 F2022 compared to Q1 F2021. That’s just a joke.
At the other end of the spectrum are Dropbox and Box. These are under new pressure from outside investors this week. The two beloved of the former private market have hit a growth barrier and are being attacked by it. Growth or death isn’t just about startup advice. This is what software companies should do if they want to remain responsible for their destiny.
Not every SPAC is pure garbage – TechCrunch Source link Not every SPAC is pure garbage – TechCrunch