finance

  • Snapchat soars again on second day of trading

    Snapchat soars again on second day of trading

    Snap Inc., the parent of Snapchat, has been off to the races with its debut on the stock market. Yesterday, the stock closed at $24.48, a 44% gain from the IPO price of $17. And today it’s gone up a bit further, surpassing $29 at one point, an almost 20% increase from the close of yesterday. Shares later fell to $27, but it’s still on track for a 10% gain for day two. This… Read More

  • Did Snap leave money on the table?

    Did Snap leave money on the table?

    Snap priced its IPO at $17 per share on Wednesday, raising $3.4 billion. Then it opened Thursday at $24 per share and closed at $24.48. That’s a 44 percent gain for the select investors who bought into the IPO.  And that gain looks great… for new investors. But it also means that Snap could have sold its shares for a higher price! If Snap priced its shares just a little higher… Read More

  • Snap stock finishes up 44% on first day

    Snap stock finishes up 44% on first day

    Snap, the parent company of Snapchat, had a great day in its debut on the New York Stock Exchange. After pricing the IPO at $17 per share yesterday, the stock opened at $24. It then closed the day at $24.48, a 44 percent premium to the people who bought it yesterday. But like with all IPOs, not everybody got to access Snap’s IPO price. This is usually reserved for a smaller group… Read More

  • Snap valued above $30B as shares pop more than 40% in public trading debut

    Snap valued above $30B as shares pop more than 40% in public trading debut

    After months of hand-wringing, Snap’s IPO has now set the stage for what people will be expecting for the future of its business. Snap’s performance this morning is also setting the stage for what investors and Wall Street will be looking for at tech IPOs moving forward this year. Read More

  • Looking to sell utility billing data to lenders, Urjanet rakes in $20 million

    Looking to sell utility billing data to lenders, Urjanet rakes in $20 million

    With a pitch to provide utility payment data to lending companies, Atlanta-based Urjanet has managed to raise $20 million in new financing. Lenders are hungry for new ways to loan money to consumers but are struggling to pick up borrowers among debt-wary millennials who remember the pain of the 2008 financial crisis and are unwilling to take the perceived risk of lending to potential… Read More

  • Zenrez raises another $6 million to take on ClassPass

    Zenrez raises another $6 million to take on ClassPass

    The growing fitness boutique industry sees inefficiencies when there are empty spots in a workout class. Studios often have to pay the yoga teacher the same whether there are five people or 15 who attend a session. Several startups have tried to solve this problem, by offering discounted passes to meet demand. ClassPass gained early traction with consumers, but San Francisco-based Zenrez… Read More

  • Lyft seeks $6 billion valuation in funding round

    Lyft seeks $6 billion valuation in funding round

    Lyft is out pitching to investors while competitor Uber surrounds itself in controversy. The Wall Street Journal first reported that they are chatting about a $500 million round. We’re hearing that they are targeting a roughly $6 billion valuation, slightly above the $5.5 billion they were valued at in their last private round. The timing makes sense given the failed sale process last… Read More

  • Box’s Levie touts positive cash flow

    Box’s Levie touts positive cash flow

    Cloud content management company Box posted fourth-quarter earnings after the bell on Wednesday with shares quickly plummeting in initial after-hours trading. They mostly recovered, trading down just 1 percent by late afternoon. Box beat investor expectations with an adjusted loss of 10 cents per share versus the negative 14 cents forecast. Revenue for the quarter was also a beat at… Read More

  • Snap values itself at nearly $24B with its IPO pricing

    Snap values itself at nearly $24B with its IPO pricing

    Snap has given a final price for its IPO, setting the company’s valuation at nearly $24 billion with a price of $17 per share, according to a report by The Wall Street Journal. With that, it looks like Wall Street had plenty of appetite for Snap despite multiple major concerns about the company’s business. Slowing user growth, rising burn and a dependence on Google and Amazon for… Read More

  • Could Snapchat lead to more tech IPOs?

    Could Snapchat lead to more tech IPOs?

    When Snap prices its IPO after the closing bell today, it will be the first tech company to go public this year. It will also be the largest tech company to go public in the U.S. since Alibaba debuted in 2014. Because of the dearth of recent tech offerings, all eyes will be on the Snapchat parent to see what it means for the “IPO window.” The performance of large tech offerings… Read More