Easy. But smart? That's another question entirely.
A few days ago, CrowdStrike revealed a new IPO filing that sparked comparisons to two other VC-backed unicorns whose stars are on the rise in the aftermath of recent listings. And that's one of 12 things you need to know from the past week:
1. Running with the bulls
CrowdStrike filed an updated prospectus with the SEC this week revealing a major change in its IPO plans. After initially estimating it would offer 18 million shares for between $19 and $23 apiece, the company elevated that range to between $28 and $30 per share, one of the larger leaps you'll see for a VC-backed startup planning to go public. The new range means CrowdStrike could raise more than $520 million with a midpoint pricing and reach a valuation of some $5.7 billion.
The changing range guarantees absolutely nothing about how CrowdStrike will perform once the company's stock does begin trading on the NASDAQ. But it's certainly a sign that investors are interested. And it echoes the chain of events that led up to IPOs in recent weeks from Zoom Video Communications and Beyond Meat, two businesses that have seen runaway success in the wake of their listings.
Zoom originally planned to offer shares for between $28 and $32 each in its April premier, only to lift that range to between $33 and $35 and ultimately price the debut at $36 per share. Stock in Zoom soared to above $60 per share on its first day trading and has since increased even more: It closed Friday at $94.05, up over 18% on the day after Zoom posted sterling results in its first earnings report as a public company.
Beyond Meat, meanwhile, set an initial IPO range of $19 to $21, then raised those figures to between $23 and $25. It priced at the top end, at $25 per share, and then, like Zoom, experienced a stunning first-day bump, closing above $65 per share. Beyond Meat's stock has been unstoppable since its early May offering. And, again like Zoom, Beyond Meat had a memorable Friday, closing up more than 39% at $138.65 per share after releasing impressive earnings of its own, for a market cap above $8 billion.
Again, simply looking at price range alone is of course a poor way to predict post-IPO success. After all, Lyft also raised its initial range before it went public in March, and the ridehailing company's stock has certainly had its struggles—although it's been bouncing back for several weeks now.
But it's one indication that investors like Warburg Pincus and Accel, which together own more than 50% of CrowdStrike's pre-IPO shares, might be in for an exciting next few weeks.