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Ready? Let’s talk money, startups and spicy IPO rumors.
Happy Saturday everyone. Despite it being a short week I feel pretty run over from the sheer news volume that we’ve put up with in the last few days. So let’s pause, repine and talk about SPACs as a nice little treat.
No, we’re not going through a SPAC investor presentation teardown today. Though we will dig into the Babylon Health SPAC on Monday. Instead, we’re discussing the SoFi and BarkBox blank-check deals.
Both began to trade this week after announcing their public debuts some time ago. And things went just fine? Here’s CNBC on SoFi’s first minutes as a public company:
SoFi, short for Social Finance, went public by merging with Social Capital Hedosophia Corp V, a blank-check company run by venture capital investor Chamath Palihapitiya. The stock closed up more than 12% to $22.65.
That’s not only a win for SoFi, but also for the somewhat-embattled Chamath Palihapitiya, whose SPAC bets …read more
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