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Grading the final tech IPOs of 2019 – TechCrunch

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As the holiday slowdown looms, the final U.S.-listed technology IPOs have come in and begun to trade.

Three tech, tech-ish or venture-backed companies went public this week: Bill.com, Sprout Social and EHang. Let’s quickly review how each has performed thus far. These are, bear in mind, the last IPOs of the year that we care about, pending something incredible happening. 2020 will bring all sorts of fun, but, for this time ’round the sun, we’re done.

Pricing

Our three companies managed to each price differently. So, we have some variety to discuss. Here’s how each managed during their IPO run:

How do those results stack up against their final private valuations? Doing the best we can, here’s how they compare:

So EHang priced low and its IPO is hard to vet, as we’re guessing at its final private worth. We’ll give it a passing grade. Sprout Social priced mid-range, and managed a slight valuation bump. We can give that a B, or B+. Bill.com managed to price above its raised range, boosting its valuation sharply in the process. That’s worth an A.

Performance

Trading just wrapped, so how have our companies performed thus far in their nascent lives as public companies? Here’s the scorecard:

  • EHang’s Friday closing price: $12.90 (+3.2%)
  • Sprout Social’s Friday closing price: $16.60 (-2.35%)
  • Bill.com’s Friday closing price: $38.83 (+76.5%)

You can gist out the grades somewhat easily here, with one caveat. The Bill.com IPO’s massive early success has caused the usual complaints that the firm was underpriced by its bankers, and was thus robbed to some degree. This argument makes the assumption that the public market’s initial pricing of the company once it began trading is reasonable (maybe!) and that the company in question could have captured most or all of that value (maybe!).

Bill.com’s CEO’s reaction to the matter puts a new spin on it, but you should at least know that the week’s most successful IPO has attracted criticism for being too successful. So forget any chance of an A+.

Image via Getty Images / Somyot Techapuwapat / EyeEm



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Today’s Wordle Answer #413 – August 6, 2022 Solution And Hints

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The answer to today’s Wordle puzzle (#413 – August 6, 2022) is alien, which means to be strange or exotic, or to come from a foreign land (via Merriam-Webster). Unlike yesterday’s word, alien has a rich etymology. It comes from Latin “aliēnus”, which means not one’s own, foreign, or strange. It’s also derivative of “alius”, which also means “other”. It also has roots in Middle English “alienen”, which means to transfer or surrender property rights, or to exclude.

Here’s a fun fact: Scottish church minister and science teacher, Thomas Dick, set out in 1848 to calculate the number of aliens living inside the Solar System. According to his predictions, if the population density of outer space matched that of England, with 280 people per square mile, then the Solar System might be home to 22 trillion inhabitants (via BBC). Now that’s a very chilling thought.

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Domestic Car Sales Have Gone Through A Steep Decline Since COVID

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Sales statistics compiled by DataHerald for SlashGear show a strong decline in the number of vehicle sales over the last few years. Some sales traditions, like a January dip followed by a strong spring sales period as tax returns hit people’s bank accounts, are apparent in the data we received. An interesting thing to note is how the annual January drop seemed to be more severe in 2021. January 2020 saw a drop of around 60,000 sales when compared to the previous month, and sales declined by roughly the same number between December 2020 and January 2021. However, due to the lower sales volume overall, the dip appears to be more severe on the chart and is drastically larger if you look at it as a percentage of sales instead of raw sales numbers.

As you may expect, the biggest dip in sales occurred at the height of the April 2020 lockdown. During this period, sales figures dipped below 125,000. This is likely because many showrooms and dealerships were closed, which meant there were fewer locations where you could actually purchase a car. Unfortunately, despite a brief recovery throughout the second half of 2020 and the first half of 2021, sales numbers never got back to pre-pandemic figures. Since May 2021 we’ve witnessed a steep decline that threatens to drop sales figures as low as they were at the height of the pandemic. In May 2022, sales were below 180,000 again, with no signs of the downward trend reversing.

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Tesla Is Finally Adding This Common Feature To Its Steering Wheels

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“All cars made since November also have push center for horn – just waiting on firmware update,” Elon Musk confirmed on Twitter about the horn placement issue. This was after a Twitter user asked if it was possible to “remap the horn on the steering yoke.” In other words, if you drive a Tesla car with a steering yoke, you can use a regular horn after a software update. In addition, the update will allow you to activate the horn if you press your palm against the right side of the steering yoke. 

Another user on Reddit spotted a Tesla Model S with a sticker on the steering yoke that says “Airbag horn enabled in SW-352573.” The photo suggests that Tesla is testing a different type of steering yoke that features a regular horn on the airbag location.

This isn’t the first time Tesla has made a U-turn after it tried to re-write the rules of the traditional horn –- it was forced to recall about 500,000 vehicles that made fart noises and bleating goat sounds instead of the usual beeping horn sound, thanks to a feature Tesla called Boombox (according to CNN).

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