An account dedicated to promoting the superiority of direct listings.
Joined September 2019
- Tweets48
- Following57
- Followers148
- Likes74
Direct Listing retweeted
A direct listing with the chance to raise fresh capital is a new structure NYSE is developing. It may serve as an alternative to direct listings, IPOs, and SPACs, but someone must first choose to be the pioneer, Greg Rodgers of Latham & Watkins says. venturecapital.cmail20.com/t…
Direct Listing retweeted
This document also BRAGS about a 97% conversion rate of 1-1 meetings. Let me ask you this, at what price would you have to list your house for 97% of visitors to want to buy it? Answer: an absurdly low one. – at Atherton, CA
Direct Listing retweeted
The bank that "ran" the $NCNO $400mm+ one-day wealth give-away, just sent me a case-study as if this were "best practice" execution. You will see they brag about being 50x oversubscribed. Ignoring 98% of demand & filling only 2% is a specific recipe for underpricing. #insanity
Direct Listing retweeted
Assume this is a serious question. What is happening is the banks are making no effort whatsoever to discern actual demand for the shares. The "83" was determined by a true market (today's open is exact same as a DL). The "31" was picked by a biased and highly erroneous human.
Direct Listing retweeted
Very smart choice for direct listing. Current old-school IPO market is getting systematically worse. As Jay Ritter has noted, 2020 is setting record level underpricing, with a cost of capital near 80%, while real interest rates are near 0%. The process has gone from bad to worse.
Scoop with @ASenjourno & @annairrera
@coinbase starts preparations for a stock market listing in what would be the first major U.S. crypto exchange to go public. Coinbase is exploring going public via direct listing instead of an #IPO
reut.rs/2W3NcMV
Direct Listing retweeted
if you can quickly raise capital post-direct listing, you will see p much every quality company go that route instead of the trad IPO, in a win for the @bgurley viewpoint IMHO reuters.com/article/us-nyse-…
Direct Listing retweeted
This is spectacular. Congrats to the @NYSE for pushing for a more efficient pricing model. Thanks to @jrtuttle & @stacey_cunning for all they are doing here! #directlisting
This, coupled with the SEC's earlier request for comment on the integration rules (suggesting that 30 days' separation would defeat integration), means we are likely to see more capital raising with/in very close proximity to Direct Listings reut.rs/3hRhjjV
Direct Listing retweeted
Every time I see one of these spikes I think about @bgurley and feel sorry for $ZI employees, founders, and investors who got robbed by another mispriced IPO. #DirectListing
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Direct Listing retweeted
🙏 @kpooya! Even in Covid, traditional IPO is broken. If math is right, for $ZI, a free 1-day wealth transfer of $676mm to allocated funds from the hands of founders, employees, & investors. Hand allocated underpricing needs to stop. Use time/price for allocation. #directlisting
Direct Listing retweeted
I'm glad you are listening! You forgot to mention that they priced at the "low end of the range" the night before. Clearly the correct awareness of price and demand was non-existent. Low end of range and up 58%? Really?
Direct Listing retweeted
Asana, a corporate software maker started by a Facebook co-founder, said it confidentially filed to register its shares for a public listing that would avoid a traditional initial public offering trib.al/tYCVpCl
Direct Listing retweeted
Asana has confidentially filed to go public (and will beat Airbnb to a direct listing) in my favorite trend of companies just announcing this stuff now: bloomberg.com/news/articles/…
Direct Listing retweeted
Asana files to go public, says it will do so via a trendy direct listing tcrn.ch/36VsMsf by @lucasmtny
Direct Listing retweeted
Thrilled to see @stacey_cunning & the team @NYSE advance the ball on direct listings! They are already a simpler and superior form of entering the public markets. That said, adding primary capital would be a fantastic addition. @directlisting cnbc.com/2019/11/26/nyse-pro…
Direct Listing retweeted
The New York Stock Exchange files paperwork with the SEC that proposes letting companies raise fresh capital as part of their direct listing on the exchange (@kateclarktweets / TechCrunch)
techcrunch.com/2019/11/26/ny…
techmeme.com/191126/p21#a191…
Direct Listing retweeted
Exchanges pitch alternative to IPOs for fundraising ~ ft.com/content/b888570e-1094… - Nasdaq and NYSE propose allowing companies to sell new shares in a direct listing #mpi
Direct Listing retweeted
I missed this story this morning
Truly a revolutionary move for capital markets
reuters.com/article/us-nyse-…
Direct Listing retweeted
Huge news. The NYSE starting to put the wheels in motion to allow a primary raise with a direct listing. Will change IPO’s.
This was hinted at during the Direct Listing event hosted by @bgurley and @patrick_oshag when Stacey, President of NYSE presented
techcrunch.com/2019/11/26/ny…
Direct Listing retweeted
Speaking at the #Under30Summit, Sequoia investor @roelofbotha had this to say about the direct listings/IPO debate and @bgurley's personal quest: "The IPO process as we know it today is decades old. Perhaps it’s time for some scrutiny and some change.”
forbes.com/sites/alexkonrad/…