The Lyft IPO

Acquired

Ben Gilbert and David Rosenthal

Venturecapital, Ma, Investing, Acquisitions, Startups, Vc, Investment, Business, Technology

4.8 • 2.9K Ratings

🗓️ 30 March 2019

⏱️ 140 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Call it the playoffs. Call it the Olympics. Call it March Madness. No matter which sports analogy you borrow, it falls short of capturing what Lyft's IPO yesterday kicked off in the tech world. A generational changing of the guard from the FAANG to the APLUSS (Airbnb, Pinterest, Lyft, Uber, Slack, Stripe). A breaking of the liquidity dam that's kept capital, technology and talent locked up in a small number of Silicon Valley winners for longer than ever in history. And most importantly, a public market avenue for investing in the largest single market created since the advent of the internet. Acquired is live on the scene recounting and analyzing the history of Lyft (and ridesharing broadly) in every exquisite detail!

Sponsors:
Vanta: https://bit.ly/acquiredvanta

Statsig: bit.ly/statsigacquired
Modern Treasury: https://bit.ly/acquiredmoderntreasury

Links:

Lyft’s S-1: https://www.sec.gov/Archives/edgar/data/1759509/000119312519059849/d633517ds1.htm
Donate to Homobiles: http://bit.ly/2TM40nAÂ

Carve Outs:

Ben: Bill Gurley on "Runnin' Down a Dream" https://www.youtube.com/watch?v=xmYekD6-PZ8
David: "Cricket Fever" on Netflix: https://www.netflix.com/title/80222770

Join the Acquired Limited Partner program! https://glow.fm/acquired/ (works best on mobile)

Transcript

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0:00.0	I don't know about you but I've literally like I've been like I had trouble sleeping the last couple of nights like I'm so pumped
0:06.8	I know I woke up really this morning. I woke up in yeah I woke up at 630 and like
0:11.3	went for I ran down here to the office and like I spent all last night and all today just like getting hype Welcome to Season 4, episode 4 of Acquired, the podcast about technology acquisitions and
0:37.5	IPOs.
0:38.5	I'm Ben Gilbert.
0:39.7	I'm David Rosenthal.
0:41.0	And we are your hosts.
0:43.3	Well David, as Vince Vaughn once said to Owen Wilson in Wedding Crashers, it's Wedding Season
0:48.3	Kid.
0:51.3	The IPO floodgates are open and we are here with the very first one of 2019, the LIF I P.
0:58.0	I am so excited. I know. Well obviously this is an important moment for lift and ride sharing broadly, but what it represents for the entire technology industry is possibly even greater, that the good times can continue.
1:11.0	We've had a serious drought in big tech IPOs over the last few years
1:15.0	with most of these companies opting to famously stay private longer. There was significant
1:21.4	risk that the public markets do not value these
1:24.0	unicorns as highly as the late-stage private investment market has been.
1:28.4	If LIF had not overcome its last private valuation, we'd be seeing a lot of articles right now about
1:34.5	how valuations for startups across the board would drop and times could get tough.
1:39.8	Now we've still got a lot more IPOs ahead and we've just seen one day of trading but from what we know where we sit today
1:48.6	People in the technology ecosystem everywhere can breathe easy.
1:51.8	Yeah the science are good.
1:54.0	I mean this is huge.
1:55.0	We've never seen anything like this before.
	...

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