Equity Monday: IPOs are back and the Equity crew is feasting

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 28 August 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

As a small heads up, we had a bonus show over the weekend that is well worth your time! Alright, here’s what’s on the show this morning: Stocks are up around the world: A good note to start the week on, of course. In the meantime, the crypto market is still dragging. We’re back to minimal week-over-week price movements. Tech IPOs are back: After a drought that will be talked about for years, it’s raining tech IPOs again! Instacart and Klaviyo have filed their Form S-1s to go public, and we are busy digesting the numbers. On the Instacart front, read our first impressions here. In short, the company’s trailing performance is super solid, but the question is, how much it can scale total transaction volume in the future. We are still getting our boots on when it comes to Klaviyo, but the business seems strong. Is it the champion that software companies have waited for? We’ll have to see. More to come on the site later today. And Didi is selling part of its business to Xpeng. This is not the first time we’ve seen a ride-hailing company divest non-core assets. Don’t forget that Equity is opening this year’s Disrupt. 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 Runch Podcast, where we unpack the numbers and the nuance behind the headlines.
0:17.0	This is Alex, good morning.
0:19.0	Welcome to our Monday show, when I get caught up and I catch you up in the process. This is August 28th
0:25.0	2023 and on the show today we have stocks and crypto as always a couple of
0:30.9	small notes on earnings then major news brewing in the unicorn space.
0:36.0	And finally, why self-driving cars are too expensive a club for their future customers.
0:40.6	It's all on the show today. Let's go. Let's start with a look at the stock market.
0:47.0	Shares today were up in Asia across the board except for Evergrand, which finally started to trade again and tanked.
0:54.0	Stocks are also higher in Europe and are set to rise in the US ahead of the start of trading.
0:59.3	Now we are mostly done with earnings, you can say thank God, don't worry, but this week we will hear from
1:04.8	Salesforce, HP, Crowdstrike, Mongo, and VMware. So if you care about Enterprise Software,
1:11.5	good week for you. Turning the page to crypto, well we are back to the price doldrums
1:16.3	after last week's movement.
1:18.2	As you will recall, last week we saw major declines in several crypto prices. This week however,
1:23.2	Bitcoin is flat week over week at around $26,000 and
1:27.4	ether is off a very small 1.5% to 16.50. Not a lot going on there. Elsewhere in crypto, NFT trading continues to decline
1:36.6	and we are still watching the stable coins, but really that's all the news from
1:40.0	crypto land. from Cryptoland. Moving on to my favorite part of the show, big news that matters.
1:47.1	And today's biggest headline is that we are finally seeing some big names drop their
1:51.4	IPO filings. This includes Instacart, as expected, and Clavio as well.
1:56.9	These are massive IPOs that will heft multi-billion dollar valuations and potentially
2:01.4	raise quite a lot of money.
	...

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