Morning Report: Let’s check back in on the world of IPOs.
One IPO roundup is not enough this week. News from public offerings continues to touch down daily.
We’ll begin with Xiamo, move to Domo, and then figure out what’s taking Airbnb so long to wrap up:
- Xiaomi prices IPO at the low end of its range. According to Bloomberg, Chinese hardware company Xiaomi has priced its IPO at the small end of its HK$17 to HK$22 range. Selling over 2 billion shares, the company’s IPO is staggeringly huge. Bloomberg notes that the IPO values Xiaomi at “about $54 billion,” which sounds good before the article notes that that result is “roughly half the company’s initial goal.”
- Domo raised $193 million by selling 9.2 million shares at $21 apiece. As Nasdaq.com notes, Domo’s pricing was “slightly above the midpoint” that the firm proposed. The company, everyone’s favorite money pit, is valued at just over the $500 million mark at $21 per share. That’s a dramatic downsizing.
- Airbnb will go public at some point, just not very soon. Per TechCrunch and The Information, Airbnb is paying out cash bonuses to employees irked at its failure to go public, and the company intends to be ready to go public by the start of H2 2019. It may go public in the second half of that year.
Why Airbnb needs more time is beyond comprehension. But in the Founder Friendly Era, you never get kicked out of your parents’ house.
From The Crunchbase Daily:
China-based smartphone maker Xiaomi priced its $4.7 billion IPO in Hong Kong at the bottom of the proposed range. The offering delivers an initial market value of around $54 billion, down sharply from expectations earlier this year of a $75 billion to $100 billion valuation
The scooter wars are intensifying. Bird, one of the leading players in the burgeoning American scooter scene, announced that it closed a $300 million round of capital led by Sequoia. The round comes amid rumors that arch-rival Lime is working to secure $250 million of its own.
SimpliSafe, a provider of wireless home security systems, has sold a controlling stake to private equity firm Hellman & Friedman. The deal reportedly values the 12-year-old, Boston-based company at around $1 billion.
Crunchbase News takes a look at Washington, D.C.-based PeaceTechLab, a nonprofit organization that runs an accelerator for startups focused on technology that protects and advances peace and human rights.