Aug 22, 2017, 11:09 am EDT
Blue Apron Holdings Inc (NYSE:APRN) is facing multiple lawsuits that claim it has been misleading investors.
The lawsuits claim that Blue Apron Holdings Inc didn’t properly make known some material information. There are several firms behind these lawsuits. This includes Bragar Eagel and Squire, Bottini & Bottini and a few others. A source at Blue Apron Holdings Inc claims that some of these firms are still seeking plaintiffs for their lawsuits.
While the wording is different between the lawsuits, they mostly focus on the same three following points. Read
Aug 8, 2017, 12:23 pm EDT
IPOs have many advantages. Just some include: much more exposure; a windfall of cash; the stock can be used as currency for acquisitions; and employees will have an opportunity to get liquidity.
But of course, there are notable risks as well. And we are seeing this with Snap Inc (NYSE:SNAP).
It seems that the shares are in free-fall. Since hitting a high of nearly $30 in early March, SNAP stock is now at a lowly $12.65. During this period, the company has lost about $16 billion of market cap. This is actually more than the value of Twitter Inc (NYSE:TWTR)! Read
Jul 31, 2017, 3:53 pm EDT
A StitchFix IPO may be happening in the near future.
The personal styling service announced that it has filed paperwork to go public in a confidential manner. Here are seven things to know about the StitchFix IPO:
The company has filed for an IPO under a special “IPO on-ramp” provision that falls under the 2012 Jumpstart Our Business Startups Act (JOBS Act). The provisions give the company the option of going through its review process with the Securities and Exchange Commission in a confidential manner.
StitchFix is reportedly looking for a valuation in the $3 billion to $ =4 billion range.
Katrina Lake is the company’s CEO, and she will be one of the few women to lead a company as it goes public. Only 3% of companies to IPO between 1996 and 2014 were led by women.
StitchFix announced revenue of $730 million in fiscal 2016.
The company has had some recent moves lately as COO Julie Bornstein left the company last month, while CFO Paul Yee joined its ranks last month.
StitchFix has been around for five years, and it consists of sending consumers boxes of clothing based on their beauty style. Subscribers then try on the clothes, keep what they like and send back what they don’t need. StitchFix recently rolled out a men’s business.
This isn’t the only company of its kind to consider going public at the moment as Rent the Runway may be making a similar move soon. Read
Jul 31, 2017, 10:55 am EDT
Today is lockup expiration for Snap Inc (NYSE:SNAP). And yes, it looks like Wall Street is not too thrilled. In early trading, Snap stock gave back 3% to $13.41, before settling at a 1% loss as of this writing.
For those unfamiliar with the treacherous world of initial public offerings, the lockup is a contract that prohibits insiders — such as founders, employees and directors — from selling their shares for a certain period of time. The main reason for this is that an IPO often needs time to get seasoned in the marketplace.
Snap stock has had an interesting public life so far — down about 20% from its IPO and 54% from its all-time high — so it’s worth reading into what the ultimate impact of the lockup expiration may be. Read
Jul 28, 2017, 1:12 pm EDT
Redfin Corp (NASDAQ:RDFN) provided the world of tech IPOs with some good news amid a pretty tough slog. Redfin’s initial public offering went live Friday with an offering of 9.2 million shares at $15 each, and RDFN stock jumped 36% in early morning trade. pulled off a standout IPO, with the shares up 36% in early trading.
Lead underwriters on the deal were Goldman Sachs Group Inc (NYSE:GS) and Allen & Company.
Today, I’ll give you an introduction to Redfin, and look at its prospects going forward following its successful IPO. Read