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The wait was long but the time was right this week: Airbnb finally filed its S-1 and so did Affirm, C3.ai, Roblox, and Wish. We are likely to see these five prices on the public markets before the end of an already great year for technical IPOs. The ongoing epidemic and political upheaval were not sufficiently frightening, apparently.
This coming decade, you have to think that we will see more proliferation of tech companies in public. Many of the above companies have been bottled up for years behind privately funded growth strategies. Today, however, the industry has a better understanding of SPACs and direct listings, and various funding routes. Companies have more options from their establishment on how to grow and exit one day. Public investors in 2020 also have a deep appreciation for current revenue numbers and future growth opportunities for tech companies. Why, I can still remember all the talent that bragged about shortening the Facebook IPO long ago.
Will we see a more spread of where the IPO will come from? While all of this week’s filmmakers are headquartered in San Francisco or Enviros, it now seems almost like a coincidental reference to the years when these companies were founded. Ohio-based Route Insurance has recently mined its own unicorns with more states with public and Utah-based Qualtrix heading (back). Tech startups are now global, meanwhile, and a lot of countries are working to keep their unicorn closer to home than New York.
Headlines from ClearTips and Extra Crunch:
If you have not made $ 1B this week, you are not committing VC rights (EC)
Confirm Files to be Public
Inside the Affiderm’s IPO filing: a look at its economics, profits and revenue concentration (EC)
To make Airbnb files public
5 Questions from Airbnb’s IPO Filing (EC)
Vice Chancellor and Founder Winner in Airbnb’s IPO (EC)
Roblox files to go public
What is Roblox? (EC)
I wish the files had gone public with 100 million monthly activations so far, $ 1.75B of revenue in 2020
C3.ai IPO Filing (EC) Opening
With the 2021 IPO in the cards, what do we know about Robinhood’s Q3 performance? (EC)
What does the Biden administration mean for Tech?
What does Joe Biden want to do as president around technology policy? On one hand, tech companies may not return to the White House very fast. “All told, we are seeing some familiar names in the mix, but it is not 2008 until 2020,” Taylor Hotmaker tells of possible presidential appointments from the industry. “Tech companies that emerged as golden children in the last 10 years are now radioactive. Regulation rotates on the horizon in every direction. Whatever policy priorities the Biden administration exits, Obama’s technically golden age is over and we are ready to innovate. “
However, tech industries and companies focused on shared goals may find support. In a review of Biden’s climate-change policies, John Schieber looks at key green infrastructure plans that may be under way.
Any policy that the Biden administration implements will largely focus on economic opportunity, and the majority of the proposed plan from the campaign meets this requirement. One of its key proposals was that “good in communities, unions, leaving behind middle-class jobs, making mistakes in communities that bear the brunt of pollution, and raising the best ideas from across our great country – rural, urban and tribal , “According to the Transition website. An initial emphasis on grid and utility infrastructure could create significant job creation opportunities across the US – and could be a boost for technology companies.” Our electrical energy infrastructure is outdated, aging and Not safe, “said Abe Yokel, co-founder of energy and climate-intensive venture capital firm Conservant Ventures.” From an infrastructure standpoint, transmission distribution should really be upgraded and reduced over the years Is going on. And it is in direct alignment with the deployment of renewable energy and electrification of everything across America. “
Future of manufacturing technology
At the top of the construction industry’s traditional challenges this year is a skilled labor shortage. The result is that technology adoption is making a big push into the real world, Allison Xu of Bain Capital Ventures writes in a guest column for this week’s Extra Crunch. She maps six main construction categories where technology startups are emerging, including project startup, design and engineering, pre-construction, construction execution, post construction and construction management. Here is an excerpt from the article about that last item:
- How it works today: Construction management and operations teams manage end-to-end projects with functions such as document management, data and insights, accounting, financing, HR / payroll and more.
- key challenges: The complexity of the job site changes to highly complex and cumbersome paperwork associated with each project. Managing the process requires communication and alignment between multiple stakeholders.
- How technology can address challenges: The nuances of the multistakeholder construction process are merit values in a vertical approach to project management. Construction management tools such as Procore, Hyphen Solutions and IngeniousIO have created ways for contractors to more easily coordinate and track the end-to-end process. Other players, such as LevelSet, have taken a construction-specific approach to tasks such as invoice management and payment.
Virtual headquarters after the epidemic?
Epidemic-era work solutions such as the online team meeting space are moving towards a less definitive, vaccine-based reality. Have we all gone far before that they will have a real market, yet? Natasha Mascarenhas checks with some of the top companies to see how it looks, see here:
Dozens of new startups are working to create virtual headquarters for distributed teams, with the goal of making remote work more seamless. The three that have reached the top include the branch created by Gen Z gamers; Assemble, a giant zoom created by engineers; And Huddle, who is still in stealth.
The platforms are all racing to prove that the world is ready to be a part of the virtual workspace. Drawing on the multiplayer gaming culture, startups are using spatial technology, animations, and productivity tools to create a metaware dedicated to work.
Biggest challenge ahead? Startups need to convince venture capitalists and users that they are more than sims for enterprise or on an always-zoom call. Potential success may indicate how the future of work for distributed teams will be a mix of gaming and socialization.
General John W., head of the American Space Force. ‘J’ Raymond joins us in ClearTips sessions.
Amazon’s Project Kuiper chief David Limp is coming to TC Sessions: Space
Throughout the week
Against all odds: The sheer strength of immigrant startup founders
S16 Angel Fund launches a community of founders to invest in other founders
Pre-seeded fintech firm Financial Venture Studio closes on debut fund to create a legacy of top investment
How can colleges save exports
Why are telehealth companies treating healthcare like a gig economy?
A court ruling in favor of startup UpCodes could help shape the law’s open access
Will zoom apps be the next hot startup platform?
Is Internet Advertising Fracking The Economy?
Changing domestic talents and VC fueled Italy’s technological renaissance
Why some patriarchs like to work with founders for the first time
3 development strategy that helped us surpass Nome and Weight Watchers
A report card for the SEC’s new equity crowdfunding rules
From Alex Wilhelm:
Hello and welcome back to Equity, ClearTips’s venture capital-focused podcast (Now on Twitter!), Where we unpack the numbers behind the headlines.
The wound is incredibly busy this week. What’s more, with a week that includes both AirBnB and Affirm IPO filings, hosting mega-rounds for new unicorns, some attractive small funding events and some new funds?
- An affidavit has been filed to go public The fintech unicorn is larger, grows over time and loses less money. We were quite impressed in our first look. Then, with a little more time, we dug deeper and found one or two weaknesses. Nevertheless, Affirm is going public and is not in a bad state.
- Airbnb filed, and we quickly jumped into an equity shot to get our minds around the news on Tuesday. Since then, Danny dug through the venture capital winners circle – a surprisingly small subset of firms! – And we also got into some questions about the finances of the company.
- Robinhood is said to have an IPO in the books, so we talked a little bit about what we know about its Q3 development.
- And then there was edtech as usual. This week we talked about Tencent raising Udamey, Duolingo again, and the transfer picking up a series saying that we thought it was interesting.
- Danny Trust and Will wanted to talk about Series A. We tried not to make many jokes.
- ZenBusiness raised $ 55 million, in an X-Series Series B.
- Financial Venture Studios set up a new fund to cut small checks in seed-stage fintech startups. We think this is very good. Especially given what we know is going on in the fintech enterprise world.
- And Natasha walked us through her latest deep-dive, a look into the world of virtual headquarters. This made the show’s worst joke.
what a week! After three episodes, some new records, and all the action we got very tired. More on Monday!
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