Spotify now 20 % below direct listing price - bad mojo for companies considering direct listings in 2019 $spot $slack $airbnb $uberpic.twitter.com/2aT8q5buwI
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Perhaps it's in line with other recent IPOs, but I still think it was far overvalued back in April to begin with. It's shed ~$3 billion in value each quarter since its debuthttps://twitter.com/adammarx13/status/1075841714278096898?s=19 …
And without the added benefit of having raised additional funding like more traditional IPOs... not necessarily a bad thing if Spotify didn't require funding, but something to keep in mind.
Will get the data been working on it.
Problem is the data set is one on Spotify. The real problem is the banks will point to it as a reason to stay with the old way.
Worked out ok for $GOOG , no?
Spotify has problems with its basic theory of business too. “Direct listing is to blame” is a premature call. Couldn’t it be worse if their initial IPO was bought by institutional vs a lot of Spotify fanatics? Just my $.02
Just re-read Howard’s tweet and actually, I can’t disagree with “bad mojo” ... whether it’s about the direct listing or not, it probably won’t help the odds of @Airbnb and the rest actually considering direct.
Yeah — folks close to Spotify generally feel good about how it went, often bringing up Dropbox as the comparison .
Exactly. No evidence this has anything to do with theirn method of listing.
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