Chamath Palihapitiya says that the investment tool lets ordinary people get rich off startups. It may be hype—but hype can be its own economic engine.
Despite the pullback in growth stocks and special purpose acquisition company (SPAC) holdings, that shouldn’t kill the enthusiasm for Social Capital Hedosophia Holdings (NYSE:IPOE). IPOE stock is the holding company that should eventually turn into SoFi.
SPAC mania has come to a screeching halt. Just last month, special purpose acquisition companies celebrated a head-turning milestone by breaking their 2020 issuance record in just three-month’s time.
Just as Chamath Palihapitiya was the face of the SPAC frenzy that gripped financial markets at the start of the year, he is today the face of the bust.
Latch is an enterprise SaaS provider to buildings and residents with the aim of making spaces better places to live, work and visit.
SPAC boom skeptics are betting against deals including Social Finance, Lucid and Lordstown Motors. Short sellers are coming for SPACs.
High-profile special purpose acquisition companies like Pershing Square Tontine Holdings (NYSE:PSTH) and Social Capital Hedosophia Holdings V (NYSE:IPOE) faced pressure in Friday’s session as investors grew wary of SPACs, although the sector later partly rebounded and PSTH even went positive.
The worst seems to be behind SoftBank Group Corp. Its stock price has surpassed its dot-com peak, thanks in part to aggressive share buybacks and the successful initial public offerings of its unicorns, such as food delivery startup DoorDash Inc.
The number of public listings by companies without revenues valued above $1 billion has exceeded what was seen in the dot-com era, according to data from the Wall Street Journal.
Clover Health should not be a public company, according to Hedgeye’s Health Policy Analyst Emily Evans. The insurance stock, which went public via SPAC and has been promoted by Chamath Palihapitiya.
BlackSky Holdings Inc., a satellite imagery and data company, is going public through a reverse merger with blank-check company Osprey Technology Acquisition Corp., according to people with knowledge of the matter.
We reveal how Clover Health and its Wall Street celebrity promoter, Chamath Palihapitiya, misled investors about critical aspects of Clover’s business in the run-up to the company’s SPAC go-public transaction last month.
Latch Inc said on Monday it plans to go public through a merger with blank-check company TS Innovation Acquisitions Corp, backed by U.S. property developer Tishman Speyer, in a deal that values the smart-lock maker at $1.56 billion.
When going public is a company’s ultimate goal, the method of doing so isn’t the most important factor. Consider Clover Health Investments, which provides Medicare Advantage health plans to 57,000 members.
Social Finance, Inc. (“the Company” or “SoFi”), a leading next-generation financial services platform, has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V (“SCH”) (NYSE: IPOE), a publicly traded special purpose acquisition company, to bring a major consumer-focused financial technology business to the public markets.
Social Capital Hedosophia Holdings Corp. IV (NYSE:IPOD) is the fourth of a series of SPACs that Chamath is listing. IPOD is publicly traded today, and is trading at a 10% premium to NAV.
Tishman Speyer has launched a $300 million blank check company that will invest in proptech firms, according to an S1 filed with the SEC Monday.
Three blank-check companies backed by venture investor Chamath Palihapitiya have raised a total of $2.1 billion through initial public offerings, the companies said in separate statements on Thursday.
U.S. insurance startup Clover Health will go public through a merger with blank-check firm Social Capital Hedosophia Holdings Corp III IPOC.N in a deal valued at $3.7 billion including debt, the company said on Tuesday.
Former Uber Technologies, Inc. executive Emil Michael plans to file for an initial public offering of $250 million for a blank check company whose special advisors include Dr. Eric Schmidt, the Silicon Valley billionaire who was previously CEO of Google and Executive Chairman of Alphabet Inc.