IPO – The Musings of the Big Red Car

The Next WeWork

Big Red Car — Sun, 26 Sep 2021 16:25:06 +0000

In looking at “things” I am always surprised that nobody seems to be able to find the “worst” companies out there. It seems like that should be an easy task. I am not talking about companies that fail quickly in their infancy because the market spits the bit on their idea, but companies who fail […]

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2020 Big IPOs — How Did They Do?

Big Red Car — Thu, 17 Jun 2021 15:23:40 +0000

How did the biggest IPOs of 2020 fare as they rounded the corner into 2021, the change of administrations, the diminishment of COVID, and the burn off of any lock out periods for the original investors? This “post lock out expiration” period is always an interesting bellwether. Here are the 2020 IPO biggies: DoorDash — […]

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The Economic Splendor of Love — Bumble IPO

Big Red Car — Thu, 11 Feb 2021 23:31:58 +0000

There is no more powerful force on planet Earth (Mars is supposed to be the same) than love. To fall in love, one needs a target of that affection which brings us to Austin By God Texas based Bumble. Bumble (and sister company Badoo) is a “dating app” but, dear reader, it is so much […]

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DoorDash Dashing To A Crash?

Big Red Car — Thu, 10 Dec 2020 18:21:47 +0000

This is the week that was as it relates to Initial Public Offerings. Well, last week also. Amongst the IPO royalty is a company called “DoorDash” (DASH) that hit the IPO switch on Wednesday and was up almost 90% on its first day of public trading. DD had already re-priced its IPO price based on […]

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The Pricing of IPOs

Big Red Car — Fri, 07 Aug 2020 18:07:47 +0000

Comes now the triumphant case of Austin, Texas based BigCommerce who IPOed at $24/share on Tuesday. It was cause for local pride and a bit of celebration. But, was it really? Absorb these facts: 1. Company comes public at $24/share and nets $216,000,000. Well played. Bravo! Years of hard work come together. The American Dream […]

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Casper — CSPR — The Unfriendly Mattress Company

Big Red Car — Tue, 11 Feb 2020 02:19:59 +0000

So, Casper — CSPR NYSE — got public at a value that is a meaningful discount to the last venture money valuation. Still, they got public. The IPO went through some birth canal stress, exiting as a skinnier version of its most recent $1.2B private value. It is currently showing a public market cap of […]

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Casper, The Non-Unicorn Mattress Company

Big Red Car — Wed, 29 Jan 2020 15:40:17 +0000

Comes once again our dear friends from Casper the mattress company. You will recall we wrote about them here: The Casper IPO IQ Test wherein we cast some shade on the impending unicorn — $1B market cap post IPO — value of Casper. Now, it appears that the market is smarter than we thought at […]

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The Casper IPO IQ Test

Big Red Car — Tue, 14 Jan 2020 00:33:51 +0000

After a blood bath with the failed WeWork, the IPO market is coming back for another IQ test — how stupid are you? This is not a drill. Comes hither our sleepy friends Casper, the mattress folks. Casper isn’t spooked by IPO woes Could investors ghost the Casper IPO? Spooky. Basic facts, please, Big Red […]

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Smile Direct Club — No Smiling Allowed

Big Red Car — Tue, 15 Oct 2019 14:53:53 +0000

Comes now the curious story of Smile Direct Club — the worst Initial Public Offering of 2019. IPO prices at $23 and rests comfortably this morning at a bit above $9. Ouch. We are talking a huge loss of value, down 60%. Here are the Smile Direct Club founders, Jordan Katzman and Alex Fenkel. Does […]

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We IPO — An Obscenity Or Just Offensive?

Big Red Car — Fri, 13 Sep 2019 13:38:54 +0000

If you have been off the ‘net, you may not have heard, but We (We Work) is trying to float a public issuance of its stock. Your Big Red Car wrote about it here. We IPO — You Work, I Work, WeWork Back in the middle of August when that was written, several pithy criticisms […]

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