ipo – The Musings of the Big Red Car

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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Beyond Meat — Don’t Burn That Fake Burger

Big Red Car — Mon, 20 May 2019 17:55:52 +0000

If you have a hankering for a burger, then Beyond Meat may be for you, especially if you like plant protein burgers. Into the conversation, comes recently IPOed Beyond Meat. BYND came public on 2 May 2019 at $25/share. Since then, the chart looks like the following. Hello, America! From an Initial Public Offering price […]

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UBER Surge Pricing

Big Red Car — Mon, 13 May 2019 16:06:59 +0000

Hail, Uber! Uber went public last week with great fanfare befitting the third largest Initial Public Offering in US history. Hoorah, Uber! All hail Uber! Then, they ran into reality and reality drowned them with surge pricing. Uber came public at the low end of the proposed range (already a huge disappointment when compared to […]

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Blue Apron and the Meal Kit Delivery Genie

Big Red Car — Wed, 03 Apr 2019 17:02:14 +0000

Blue Apron — APRN NYSE — is a meal recipe/delivery company (OK, meal-kit delivery is the right buzz word, shoot me) that went public back in 2017. It was once upon a time a Unicorn. Here is what the stock has done since coming out at $10/share in July 2017 and thereby earning it a […]

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Anchors Aweigh, Tech IPOs

Big Red Car — Wed, 27 Mar 2019 18:55:26 +0000

First quarter of 2019 was a bust for tech Initial Public Offerings. Some blame it on the government shutdown and the inability to get the United States Securities and Exchange Commission to respond to preliminary S-1s (registration document). Fair play to that sentiment. A company files an S-1, the US SEC reviews it, the SEC […]

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