Lyft’s IPO Debacle and the Challenges of Unprofitable Unicorns

On March 29, 2019, the popular ride-sharing startup Lyft officially debuted on the Nasdaq Stock Market, capping off more than a year of speculation and supposed investor fervor over access to the next tech unicorn. Opening at a price of $87.24 a share – 21 percent above the initial public offering (IPO) price of $72 offered to pre-IPO investors – the market gave the company an approximate valuation of $30 billion. Within the next few Continue Reading →

STLR Link Roundup – November 30, 2019

DJ Khaled and Floyd Mayweather Settle I.C.O. Case On Thursday, November 29, the Securities and Exchange Commission announced that the boxer Floyd Mayweather Jr. and producer DJ Khaled would pay significant sums to settle charges that they illegally promoted investments in an unregulated cryptocurrency offering. The founders of Centra Tech, a virtual currency startup, were arrested in May and charged with defrauding investors. Centra had enlisted Mayweather and Khaled to help promote the company’s initial Continue Reading →