Didi to Debut During IPO Rush, Slack CEO on the Future of Work & Facebook Takes on Newsletters
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 30 June 2021
⏱️ 42 minutes
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| 0:00.0 | I'm John Fort. You're listening to CNBC's TechChack. Our show is live weekdays at 11 a.m. Eastern. |
| 0:05.9 | Listen in. Happy Wednesday. Welcome to Tech Check. I'm John Fort with Deirdre Bosa and Carl Keentania. |
| 0:11.1 | Ahead this hour, D.D.'s dramatic debut this year's biggest IPO and how it impacts the likes of |
| 0:16.3 | Uber and Lyft. And then Slack CEO Stuart Butterfield, as the debate in Silicon Valley over hybrid work |
| 0:22.1 | and remote work rages on. And later, some bulletin board material for substack as Facebook introduces |
| 0:27.9 | its own competing product. |
| 0:30.8 | John, several tech movers to get to this morning as Wall Street gets bullish on Micron |
| 0:35.1 | and bearish on Virgin Galactic. Those calls and more on the last day of the month coming up. |
| 0:42.5 | Guys, meantime, Didi, as you know by now, making its NYSC debut. |
| 0:46.9 | IPO prices at 14, raising $4.4 billion for the Chinese ride-sharing giant. |
| 0:52.8 | The upsized offering gives D.D. a market cap of more than $67 billion. $4.4 billion for the Chinese ride-sharing giant. The upsized offering gives D.D.D. a market cap of more |
| 0:55.5 | than $67 billion. 17 listings today, including SPACs and traditional IPOs. Renaissance capital says |
| 1:03.4 | the market's already on track for a record year with 213 traditional IPOs, raising more than |
| 1:09.4 | $70 billion year to date. |
| 1:11.2 | One of the biggest backers of today's Diti debut. |
| 1:14.1 | As you know, Deirdre is SoftBank, which finds itself backing multiple fronts of the ride-sharing |
| 1:18.2 | and delivery wars. |
| 1:19.6 | The Vision Fund holding a 21.5% stake in Diti, but it comes after it sold $2 billion worth |
| 1:25.1 | of stock in its competitor Uber earlier this year. |
| 1:28.2 | And of course, Dee, its claim to fame is managing to push Uber out of China overall. |
| 1:34.9 | Yeah, but don't forget Uber, one of the winners as well, because in return for leaving China, |
| 1:39.2 | it got a stake in Diti, which is now worth much more. |
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