Equity Monday: Instacart, Klaviyo and the art of the unicorn haircut

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 11 September 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Here's what we got into on the show today: Instacart IPO: We have a first price range for Instacart! And the company is going to take a roughly $30 billion haircut on the valuation it raised at back in 2021. Still worth north of $7 billion by our math , Instacart is set to raise a lot of money at a multi-billion price. Hard to get too worried about that. (Even more, the company's fully-diluted valuation range is, if we are doing our sums correctly, $8.6 billion to $9.3 billion.) Klaviyo IPO: Also taking a price cut is Klaviyo, which also dropped its first IPO price range this morning. It is taking a smaller cut in both absolute and percentage terms, but in aggregate the two companies show just how much room there is for 2021 prices to come down. What we worry about is what less-strong startups will have to endure, as Instacart and Klaviyo are both very healthy. Coinbase and India: Coinbase is not leaving India, contrary to reports. What it is doing is shuttering some accounts in the country. Crypto and regulation continue their long, and twisty path. Cheap, shared satellites: What raised $50 million and wants you to share a LEO satellite? This startup! Disrupt is literally around the corner and by that we mean next week! We'll see you there. For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello and welcome back to Equity, the Tech Ranch Podcast where we unpacked the numbers and the nuance behind the headlines.
0:18.0	This is Alex, good morning and welcome to our Monday show where we take a look back at the weekend and a look at the week ahead.
0:24.8	Essentially, we're getting caught up and we're catching you up.
0:27.6	Today is September 11th, 2023 and on the podcast today we have global markets, big IPO news, an iPhone event and a couple of very key startup updates.
0:38.5	Let's go.
0:39.5	Kicking off with my own personal passion project, it's the stock market.
0:45.8	Today shares are mixed in Asia and they are up in Europe as of this morning and stocks are
0:51.3	set to rise here in the US at the open though of course by the time you hear this that may have changed
0:56.4	This week we are waiting on inflation data from India and a host of information from China regarding its own economic performance.
1:04.3	On the earnings front this week, very few names.
1:07.3	On Monday we shall hear from Oracle, on Tuesday, Too Simple, and then Thursday, Adobe, and the Lovesack company which I believe is that like big
1:15.6	poofy chair company apparently they're public I had no idea anyways that's it
1:20.4	congrats everybody this earning cycle really is finally, mostly pretty much over.
1:25.9	On the stock market front, though, keep an eye on Apple's big iPhone event because investors
1:29.6	will of course care at least somewhat what the company announces.
1:33.0	Flipping the coin from heads to tails, let's move from stocks to crypto.
1:38.0	Now in the last week there has been limited price movement amongst major tokens,
1:42.0	but there is still news.
1:44.4	The current issue of the day in crypto land appears to be the remains of FTX trying to take
1:48.7	money back from other companies, including Layer Zero.
1:52.7	Now, the latter is pushing back against FTX's claims, of course,
1:56.4	but the situation does tell us once again
	...

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