Next year, Silicon Valley’s growth-at-all-costs mentality will take a back seat. Here’s what that means for consumers.
that JPMorgan Chase will reportedly lead the financing of shares that could be offered as early as 2020.
Following the unraveling of WeWork this past fall, investors have not only become wary of upcoming IPOs but skeptical of high-priced tech stocks altogether. Motley Fool writer Jeremy Bowman SoftBank propping up companies, as it did with WeWork, will eventually cause the market to catch up with companies like DoorDash in the oversaturated food-delivery space.-like blow by avoiding an investor road show and allowing existing shareholders to sell their stock. Though unprofitable, the company has raised just over $2 billion to date, bringing its valuation to $13 billion, according to PitchBook.
Just a few weeks ago the fintech company also announced that it had reach 10 million users, which co-founder Vladimir Tenev recently told CNBC's Jim Cramer is a "testament" to their mission. "People are paying lower prices, and that's something that's gone beyond Robinhood and now is available to tens of millions of consumers across the U.S.," Tenev said a few weeks ago on CNBC's "Mad Money.
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