Equity Monday: Zoom buys Five9 as Robinhood sets IPO price range
Equity
TechCrunch
4.2 • 372 Ratings
🗓️ 19 July 2021
⏱️ 6 minutes
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| 0:00.0 | Good morning and welcome to Equity Monday for July 19th, our weekly primer where we catch up on the news and as always explore the numbers behind the headlines. |
| 0:19.0 | This is Alex and I'm just going to say that I'm extremely hyped for this week of news. Now why? Well, because there's been |
| 0:24.4 | enough news just this Monday morning to fill a whole week's worth of blogging. Just imagine |
| 0:28.8 | how bonkers things are going to be by Friday. But before we get into what happened over the weekend a quick look at the markets. |
| 0:34.8 | Asian stocks were down today, European stocks were down even more, and American stocks are |
| 0:39.5 | set to open sharply lower this morning. So what's going on? |
| 0:43.2 | Well, according to the financial press this morning |
| 0:45.3 | that I read, it appears to be a general concern |
| 0:48.0 | that a resurgent COVID-19 could once again |
| 0:50.4 | limit economic activity. |
| 0:52.1 | Couple that with well-covered inflation concerns and |
| 0:54.4 | things are not exactly peachy in the global market. Now, turning to Bitcoin and Friends, |
| 0:59.2 | aggregate crypto market cap was off around 4% in the last 24 hours, which means that not too much is going on in the world of |
| 1:05.2 | Bitcoin. And with that, let's talk about the weekend. |
| 1:10.8 | This weekend, Zoom, the former startup darling, announced that it will buy 5-9, another public company. |
| 1:17.0 | What does 5-9 do? |
| 1:18.0 | Well, in two words, Cloud contacts. |
| 1:20.8 | And what does Zoom do? |
| 1:21.8 | Well, it connects people to one another via voice and video. |
| 1:25.0 | So it's not really that hard to see how the two companies could work together. |
| 1:29.0 | Now, the deal is worth $14.7 billion. |
| 1:32.0 | A medium healthy premium over the company's $11.9 billion market cap, |
... |
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