Fri. 03/29 - We have Lyft-Off! (Sorry)
Tech Brew Ride Home
Amalgamated Internets, LLC
4.7 • 1K Ratings
🗓️ 29 March 2019
⏱️ 19 minutes
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| 0:00.0 | Welcome to the Tech Meam Ride Home for Friday, March 29th, 2019. I'm Brian McCullough. |
| 0:09.3 | Today, The Lift IPO. |
| 0:12.4 | Huawei's profits don't seem to be affected by governmental pressures. |
| 0:16.0 | Stack Overflow is looking for a new CEO. |
| 0:18.0 | Alexa Business Blueprints allow you to create custom skills for your business, |
| 0:22.0 | and the weekend long read suggestions. |
| 0:25.2 | Here's what you missed today in the world of tech. |
| 0:27.6 | Lift officially became the first of this crop of tech unicorns to IPO today. |
| 0:36.0 | And at the time of this writing it looks like it was a success. |
| 0:40.0 | Shares of Lift opened up more than 21%, which means the company is valued at around $25 billion and |
| 0:46.8 | lift itself raised $2.3 billion. |
| 0:50.6 | Quoting CNBC, Lift said Thursday it sold 32.5 million shares more than previously expected |
| 0:57.4 | at $72 a piece. That's at the high end of the stated range, which was already boosted from an initial range of 62 to |
| 1:04.5 | 68 dollars that means the company raised about 2.3 billion from the listing |
| 1:08.7 | the stock held at around 87 dollars in its first few minutes of trading before falling to around $83 per share, something |
| 1:15.7 | of a modest IPO for such a giant tech company. |
| 1:18.7 | Appetite for the stock was strong though, with more than 6 million shares traded at the open. |
| 1:23.8 | More than 19 million shares had been traded as of noon in New York about 15 minutes after the |
| 1:29.2 | debut, end quote. |
| 1:31.9 | I don't know that I agree with that tepid assessment entirely |
| 1:34.9 | especially given that lift has always been in Uber's shadow the fact that they were |
| 1:38.8 | able to come to market first and attract enough investor interest to essentially be oversubscribed and sell more shares at a higher price than anticipated is a win by some measures certainly |
... |
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