For this morning’s column, Alex Wilhelm seemed again on the previous few months, “a busy season for technology exits” that adopted a sizzling This autumn 2020.
We’re seeing indicators of an IPO market which may be cooling, besides, “there are sufficient SPACs to take the entire recent Y Combinator class public,” he notes.
Once we consider non-public fairness corporations with pockets full of cash, it’s evident that late-stage firms have three stable selections for leveling up.
Seeking extra perception into these liquidity choices, Alex interviewed:
- DigitalOcean CEO Yancey Spruill, whose firm went public through IPO.
- Latch CFO Garth Mitchell, who mentioned his startup’s merger with actual property SPAC $TSIA.
- Brian Cruver, founder and CEO of AlertMedia, which lately offered to a personal fairness agency.
After recapping their offers, every govt explains how their firm decided which flashing crimson “EXIT” signal to observe. As Alex noticed, “choosing which option is best from a buffet’s worth of possibilities is an interesting task.”
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@yourprotagonist
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The Tonal EC-1
Image Credits: Nigel Sussman
On Tuesday, we printed a four-part sequence on Tonal, a house health startup that has raised $200 million because it launched in 2018. The firm’s patented {hardware} combines digital weights, teaching and AI in a wall-mounted system that sells for $2,995.
By any measure, it’s poised for fulfillment — gross sales elevated 800% between December 2019 and 2020, and by the top of this 12 months, the corporate may have 60 retail places. On Wednesday, Tonal reported a $250 million Series E that valued the corporate at $1.6 billion.
Our deep dive examines Tonal’s origins, product improvement timeline, its go-to-market technique and different elements that mixed to spark investor curiosity and buyer delight.
We name this format the “EC-1,” since these tales are as complete and illuminating because the S-1 kinds startups should file with the SEC earlier than going public.
Here’s how the Tonal EC-1 breaks down:
We have extra EC-1s within the works about different late-stage startups which might be doing huge issues effectively and making information within the course of.
What to make of Deliveroo’s tough IPO debut
Image Credits: Nigel Sussman (opens in a brand new window)
Why did Deliveroo battle when it started to commerce? Is it affected by cultural dissonance between its high-growth mannequin and extra conservative European buyers?
Let’s peek on the numbers and discover out.
Kaltura places debut on maintain. Is the tech IPO window closing?
Image Credits: Nigel Sussman (opens in a brand new window)
The Exchange doubts many of us anticipated the IPO local weather to get so chilly with out warning. But we might be in for a Q2 pause within the previously scorching local weather for tech debuts.
Is Substack actually price $650M?
Image Credits: Nigel Sussman (opens in a brand new window)
A $65 million Series B is exceptional, even by 2021 requirements. But the truth that a16z is pouring extra capital into the alt-media area just isn’t a shock.
Substack is a spot the place publications have bled some well-known expertise, shifting the middle of gravity in media. Let’s check out Substack’s historic development.
RPA market surges as buyers, distributors capitalize on pandemic-driven tech shift
Image Credits: Visual Generation / Getty Images
Robotic course of automation got here to the fore throughout the pandemic as firms took steps to digitally rework. When staff couldn’t be in the identical workplace collectively, it grew to become essential to cobble collectively extra automated workflows that required fewer folks within the loop.
RPA has enabled executives to offer a degree of automation that primarily buys them time to replace methods to extra trendy approaches whereas decreasing the massive variety of mundane guide duties which might be a part of each…
