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Tech Brew Ride Home

Fri. 03/29 - We have Lyft-Off! (Sorry)

Tech Brew Ride Home

Amalgamated Internets, LLC

Tech News, News, Technology

4.71K Ratings

🗓️ 29 March 2019

⏱️ 19 minutes

🧾️ Download transcript

Summary

Lyft IPO’d today, Huawei’s profits don’t seem affected by governmental pressures, Stack Overflow is looking for a new CEO, Alexa Business Blueprints allow you to create custom skills for your business and the weekend longreads suggestions. Sponsors: LightStream.com/ride DataDogHQ.com/ridehome Links: Lyft pops 20% in trading debut (CNBC) In This Tech I.P.O. Wave, Big Investors Grab More of the Gains (NYTimes) Huawei tops $100 billion revenue for first time despite political headwinds (CNBC) The Next CEO of Stack Overflow (Stack Overflow Blog) Amazon’s Alexa for Business Blueprints lets employees make custom voice apps (VentureBeat) The Weekend Longreads Suggestions: Podcast Suggestion: RunAs Radio The danger of 'I already pay for Apple News+' (TechCrunch) Europe is splitting the internet into three (The Verge) ‘A battle for the top of the funnel’: Pinterest’s long road to becoming a commerce platform (Digiday) Forget Brexit and trade wars, Europe’s start-ups are thriving (Financial Times) The Enormous Numbers Behind Amazon’s Market Reach (Bloomberg) The Elaborate, Dying Art of Hustling for Money at Dave & Buster's (Vice) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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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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