Editor's Morning Note: The Wall Street Journal says that the " Anemic IPO Market Is Poised for a Rebound." But what about tech? If you have kept hope for a dramatic rebound in the pace of US-market technology IPOs, I am here to break your heart all over again.
It was announced this morning that Apollo Group will buy Rackspace for $32 per share in cash, or $4.3 billion net of cash. According to the official verbiage, the per-share value of the agreement represents a 38 percent bump from Rackspace's "unaffected closing stock price on August 3, 2016, the last trading day prior to news reports speculating about a potential transaction."
Later today, Mattermark will publish a look at historical venture capital patterns in the United States, answering the questions where in the country have most dollars been invested, and where in the country have the most checks been written going back a full decade. Before, however, I want to rewind even further.
Today social commerce website SneakPeeq announced that it has passed the 1 million registered user mark, and has released its new iPad application to the market. Origins SneakPeeq serves two niches at once, the fashion conscious and shopping oriented consumer, and the up and coming brand that wishes to reach them.
Tragically, Uber's UberLEGO push failed to final market traction. Earlier this year, reports surfaced that Uber, the popular on-demand car service, had reached a form of profitability in a growing number of American cities. In contrast to its Chinese operations that were known to be non cash-accretive, it appeared that Uber had turned the corner in its home market.
The 2016 US tech IPO group will likely welcome a new member to its ranks this year, as The Trade Desk filed to go public this week. Following a number of successful offerings, it will be interesting to see how the company performs given as it is largely profitable, and certainly cashflow positive.
Editor's Morning Note: 500 Startups' Dave McClure's thoughts on Unicorns vs. The World are worth a moment of our time. Happy Monday. I trust that you survived the weekend in at least decent shape. We're going slow this morning in case your coffee has yet to set in. I promise.
Editor's Morning Note: Notably, last year's IPOs are still down a material chunk from their 52 week highs. Market aren't. What's going on? Earlier this week, Mattermark published a dive by Ron Miller and myself investigating how to price IPOs. As it turns out, nailing IPO pricing to the cent is essentially impossible.
tl;dr: By one metric, public investors are raising the value of recurring revenue. That means your startup is likely now worth more than it was. Box won't report its earnings until August 31, putting the fourth real installment of our continuing conversation on the shifting value of annual recurring revenue (ARR) a few weeks in the future.
A unicorn in alpha, not an alpha unicorn. Yesterday, Mattermark dug up the percentage of private investment into unicorns and unicorn-ish companies that remains illiquid. It's about three-quarters, over our selected timeframe. Of course, every company has a unique cap table, making it all but impossible to track every dollar to its last cent.
Muck Rack makes it simple to find people, tweets, or articles that mention any name, keyword, company, hashtag etc. We've compiled this guide to help you make the most of your search.
Selecting a term
Start searching tweets, articles from media outlets, articles mentioned in tweets, journalists'
names, titles and bios with some suggested searches:
Companies or Topics (e.g. iPhone, Microsoft)
Phrases (e.g. "cloud computing") — use quotes to keep the terms together
Twitter handles (e.g. @username) — returns those who have mentioned or replied to
Names (e.g. David Pogue)
Hashtags (e.g. #sxsw, #london2012)
Bio details (e.g. vegan, Olympics, father)
Muck Rack's Advanced Search allows for many boolean operators.
Find results that mention multiple specified terms, use AND or
+. For example, ensure each result contains both politicians Barack Obama and Mitt Romney by
searching Obama AND Romney or Obama +Romney.
Use the operators OR or , to broaden your search when you'd like either of
multiple terms to appear in results. (This is the default behavior of our search when no operators
are used.) For example, search for democrat OR republican to find results that refer to
Democrats and/or Republicans.
Use NOT or - to subtract results from your search. For
example, searching Disney will yield results about the Walt Disney Company as well as Walt Disney
World Resort. To exclude mentions of Disney World, search for Disney -World or Disney
When using one of these operators with a phrase, enclose it in quotation marks. For example, you can
find results about smartphones excluding Apple's iPhone 4S by searching smartphone -"iPhone
Use parentheses to separate multiple
boolean phrases. For example, to find journalists talking about having fun in Disney World or
Disneyland, search for ("disney world" OR disneyland) AND fun.