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Equity

Equity Monday: SAP’s warning, and IPO updates for both Airbnb and Databricks

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 26 October 2020

⏱️ 8 minutes

🧾️ Download transcript

Summary

This was a busy morning, with lots to talk about it. Here’s what we got into: Headlines this morning that caught our eye included falling global stock markets in the wake of rising COVID-19 cases; SAP torched tens of billions of market cap by missing earnings expectations and cutting its forecast; and Ant Group will raise a bajillion dollars in its impending IPO.

Transcript

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0:16.5

Hey everybody. This is Alex. Hey, it's Natasha. And we are here to talk just for a second about Extra Crunch, Tech Crunchy subscription product. Extra Crunch is where a lot of our best analysis and follow-up stories lives. We focus a lot on startups, building, and even poke fun here and there.

0:18.5

It's true. I also write a daily column called The Exchange that's over on Extra Crunch, and the good news is if you don't have

0:24.1

easy access yet we have a deal for you. Yes you can use I think the best code

0:29.4

there is so don't tell anyone who doesn't listen to equity because they're not invited the code is equity all caps for 50% off your extra crunch subscription

0:39.2

So head over to tech orange.com slash subscribe use that code make us look good internally we say

0:44.4

thanks across the internet and now let's do a show. Hey, this is Alex, and you are listening to Equity Monday for October 26, 2020.

1:07.0

Here's what's up this morning.

1:08.4

The recent surge in COVID-19 cases is hampering the global stock market, with most American, Asian, and European exchanges

1:14.7

trading lower for flashing red this morning.

1:17.4

Software Giant SAP lost tens of billions of dollars in market cap this morning after its

1:22.4

earnings and forecasts missed expectations.

1:25.2

The company cited renewed lockdowns and other COVID-19 related issues for its gloomy outlook.

1:30.3

Investors dumped its shares.

1:32.2

Chinese FinTech Giant Ant Group will raise $34.5 billion in a dual listing IPO, what

1:37.6

CBZ calls the biggest listing of all time.

1:40.8

That's what's running the game this morning.

1:42.4

Now, let's take a look at what happened this weekend.

1:44.4

But before we start, follow Equity at EquityPOD on Twitter for show news and other goodies.

1:49.2

And with that, let's go.

1:51.2

Despite it being nearly nove-e. Let's go.

1:58.0

Despite it being nearly November, lots of things happen this weekend that you need to know about. First, Databrix was reported to be targeting an IPO during the first half of 2021, according to Bloomberg, this is not a surprise.

2:06.6

Tech Much recently spoke to the company, digging into its growth rate, which saw the company expand

...

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