Wish, Upstart expected to price IPOs
December 15, 2020- Share:
Shopping app provider Wish and online lender Upstart are slated to price their IPOs later today, continuing a recent parade of tech stock market debuts.
Backed by DST Global, Founders Fund and Formation 8, Wish plans to raise around $1.1 billion in its initial public offering, selling 46 million shares. At the midpoint of its target price range of $22 to $24 per share, it would have a fully diluted valuation of more than $16 billion. In August 2019, Wish was valued at $11.2 billion after a funding round led by General Atlantic.
Upstart would have a fully diluted valuation of around $1.9 billion after raising around $252 million at the midpoint of its expected $20 to $22 per share price range. Its investors include Third Point Ventures, Khosla Ventures and Stone Ridge. The Bay Area-based company was worth $750 million after picking up $50 million in capital in April 2019, according to PitchBook data.
Expected IPOs before the end of the year from gaming company Roblox and buy-now, pay-later lender Affirm have reportedly been delayed. Roblox's change of timing was said to be influenced by the extreme first-day share price jumps experienced by DoorDash and Airbnb in their market debuts last week.
Backed by DST Global, Founders Fund and Formation 8, Wish plans to raise around $1.1 billion in its initial public offering, selling 46 million shares. At the midpoint of its target price range of $22 to $24 per share, it would have a fully diluted valuation of more than $16 billion. In August 2019, Wish was valued at $11.2 billion after a funding round led by General Atlantic.
Upstart would have a fully diluted valuation of around $1.9 billion after raising around $252 million at the midpoint of its expected $20 to $22 per share price range. Its investors include Third Point Ventures, Khosla Ventures and Stone Ridge. The Bay Area-based company was worth $750 million after picking up $50 million in capital in April 2019, according to PitchBook data.
Expected IPOs before the end of the year from gaming company Roblox and buy-now, pay-later lender Affirm have reportedly been delayed. Roblox's change of timing was said to be influenced by the extreme first-day share price jumps experienced by DoorDash and Airbnb in their market debuts last week.
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