Plus: Wish and Upstart are reviewing their debuts
So much for a slowdown in December – this morning Airbnb and C3.ai raised their IPO price ranges and we got early pricing information from Upstart and Wish.
This gives us a good amount of ground to cover. So we're going to look at Airbnb First a new price range to understand how rich investors value the American unicorn for shared apartments. We will repeat the experiment with C3.ai, a company that extremely fascinates us. And then we calculate rating ranges for both Upstart – a consumer credit fintech – and Wish – an e-commerce giant – to see where they stand.
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There are more IPOs pending: We are still waiting for early price information from Affirm and Roblox and DoorDash increased their reach last week.
The upcoming calendar is busy. C3.ai and DoorDash should write down tomorrow and act on Wednesday. Airbnb should be trading Wednesday and Thursday. Upstart will cost next Tuesday and trade the next day.
In normal times, we would analyze each element of today's IPO news feed in a separate post. However, we only have ten fingers. So let's go over the numbers twice and find out what matters while drinking coffee. Work!
Airbnb and C3.ai
Public investors are offering shares of Airbnb and C3.ai ahead of their debut.
This morning C3.ai, a company that sells AI technology for businesses, raised its IPO price range from $ 31-34 to $ 36-38 per share. The offer has been both increased and tightened. The latter often happens as a company gets a better handle on demand, as it moves towards final pricing and eventual trading.
There are two ways to calculate the company's new valuation range. The first uses the undiluted, expected number of shares after the company's IPO of 98,655,627, a number that includes just over 2 million shares reserved for subscribers. On that stock count, C3.ai would be worth between $ 3.57 billion and $ 3.77 billion.