Blog Article | Thomas Lee
Posted: April 17, 2018

Mulesoft’s original shareholders get the ultimate two-fer: an IPO and acquisition deal in record time

MuleSoft may not have had the buzz of Snap nor the $23 billion valuation of Spotify. But the San Francisco enterprise software firm recently accomplished something no other unicorn has done: a double exit in a very short period of time.

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Blog Article | Rohit Kulkarni
Posted: April 12, 2018

Pivotal Software IPO: Successful Offering May Trigger More Open Source Software IPOs

Summary: Pivotal, the cloud software company spun out of Dell-EMC and VMware, plans to go public next week. At the high-end of its price range, Pivotal’s IPO would net $700 million at a $4 billion valuation. It would be the second largest IPO of 2018 behind Dropbox. (We excluded Spotify from this analysis because its IPO did not include any primary share sales.) Pivotal’s IPO could pave the way to a public offering from other Unicorns with open source software business models such as Docker and SugarCRM. Or, it could inspire SaaS firms such Palantir to also consider a large public offering.

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Blog Article | Thomas Lee
Posted: April 11, 2018

Beyond Steel and Soybeans: A Trade War Could Also Hurt U.S. Technology Firms

When I traveled to Shanghai in 2014 to study Chinese entrepreneurialism, I met two kinds of people. The first is what I would call the pragmatic old guard: the veteran academics and business leaders who say the China is still a poor country that very much needs U.S. investment and technology.

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Blog Article | Rohit Kulkarni
Posted: April 5, 2018

Zuora IPO: A software unicorn in the making?

Summary: Zuora is hoping to raise $88.8 million by selling 10 million shares at $10 per share. Given the strength of current IPO market and Zuora’s value proposition, the company may well become the next unicorn.

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Blog Article | Thomas Lee
Posted: April 2, 2018

Urban e-commerce sales are booming. But where are we going to put this stuff?

Walmart has long established itself as the retailer of choice for people who live in rural regions and outer suburbs. So Walmart’s recent announcement that it will deliver online grocery orders to consumers in 100 metro markets, or 40 percent of the U.S. households, by the end of the year is certainly aggressive. (The company currently serves only six metro areas.)

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Blog Article | Rohit Kulkarni
Posted: March 30, 2018

Decrypting The Blockchain Revolution

Many people think Blockchain is a simply a platform to facilitate cryptocurrencies like Bitcoin. In fact, the technoogy has the potential to revolutionize markets and industries just as the Internet did at the turn of the 21st century.

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Blog Article | Rohit Kulkarni
Posted: March 30, 2018

Spotify’s Direct Listing: A Historic Event For Private Capital Markets?

Spotify’s IPO next week could mark a sea change on how late stage private growth firms go public. The company is directly selling its shares to the public vs. hiring investment bankers to plug the stock prior to the IPO.

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Blog Article | Thomas Lee
Posted: March 22, 2018

Thinking Computers Need Good Mental Health Too

The famed physicist Stephen Hawking was best known for his theories on black holes. But towards the end of his life, Hawking gained attention for a theory that had nothing do with gravity or cosmic inflation: Hawking predicted artificial intelligence would kill off the human race.

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Blog Article | Rohit Kulkarni
Posted: March 21, 2018

Dropbox IPO Drops This Week: A Hard Thud or Soft Landing?

With an estimated $750 million offering, Dropbox’s IPO might be the largest one in 2018 so far. We have published at length on Dropbox’s potential as a public company, and continue to believe that Dropbox could become a leading cloud storage and enterprise software company. Dropbox is the only unicorn to generate free cash flow. It also enjoys double digit EBITDA profitability while generating $1 billion in annual revenues.

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Rohit Kulkarni
Article Author

Rohit Kulkarni

Rohit is the Managing Director, Private Investment Research for SharesPost Research LLC. Prior to joining SharesPost, Rohit was a Vice President, Senior Analyst at RBC Capital Markets.
Greg Brogger
Article Author

Greg Brogger

Greg Brogger is the CEO and Founder of SharesPost, Inc. He founded SharesPost in early 2009 to bring transparency, efficiency and scale to private securities transactions.
Sven Weber
Article Author

Sven Weber

Sven Weber is a managing director of SharesPost’s SEC-registered investment advisor, SP Investments Management, LLC and responsible for the management of SharesPost investment vehicles. Sven is also the president and a trustee of the SharesPost 100 Fund.
Thomas Lee
Article Author

Thomas Lee

Thomas Lee is the Senior Writer at SharesPost. He was previously a business columnist at the San Francisco Chronicle. Lee has written for the Star Tribune in Minneapolis, St. Louis Post-Dispatch, and Seattle Times. He is author of “Rebuilding Empires” (St. Martin's Press), his book on the future of big box retail in the digital age.
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