Shares are not continuing to climb in early trading, but are holding steady above its IPO price, at around $100 at the time of writing.
Its successful debut marks the third major tech IPO in the United States this year, and is the third in a row to price well and immediately trade higher.
Investor eagerness for Ibotta indicates that “there is an increasing appetite for IPOs again” Smith said, “particularly in the tech space.”Don’t pop the champagne yet for the tech IPO market coming roaring back, however.
Classic tech IPOs tend to feature tech companies still in growth mode and deeply in the red.
Smith agrees, calling the upcoming Rubrik IPO “an even bigger test” for tech debuts “given its weaker current financial picture.”We’ll find out next week.
Chasing after other popular services in the market such as those from OpenAI, Mark Zuckerberg claimed today that Meta AI is possibly the “most intelligent AI assistant that you can freely use.”Meta first rolled out Meta AI in the U.S. last year.
Meta said that it plans to keep Meta AI in test mode in India.
New featuresUsers could already ask Meta AI for writing or recipe suggestions.
Plus, they can ask Meta AI to animate an image or turn an image into a GIF.
All AI things everywhere at onceMeta is adopting the approach of having Meta AI available in as many places as it can.
When it comes to news items that we love at TechCrunch, IPOs rank pretty darn high.
Another great newsy bit that comes along less frequently than we’d like is a startup buying another startup.
These deals are often very interesting as they either bring a gob of talent, or technology to an already growing company, potentially accelerating it.
So it was with joy that the Equity Podcast crew dug into Automattic buying Beeper for $125 million.
But certainly we are an ocean or two away from the heady days we saw back in 2021.
It’s time for Google’s annual look up to the cloud, this time with a big dose of AI.
At 9 a.m. PT, Google Cloud CEO Thomas Kurian will kick off the opening keynote for this year’s Google Cloud Next event, and you can watch it live right here.
After this week we’ll know more about Google’s attempts to help the enterprise enter the age of AI.
From a deeper dive into Gemini, the company’s AI-powered chatbot, to securing AI products and implementing generative AI into cloud applications, Google plans to cover it all.
Hello, and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.
This is our Monday show, where we dig into the weekend and take a peek at the week that is to come.
Now that we are finally past Y Combinator’s demo day — though our Friday show is worth listening if you haven’t had a chance yet — we can dive into the latest news.
So, this morning on Equity Monday we got into the chance that the United States might pass a real data privacy law.
There’s movement to report, but we’re still very, very far from anything becoming law.
Heya, folks, welcome to Week in Review (WiR), TechCrunch’s newsletter recapping the noteworthy happenings in tech over the past several days (and change).
Famed startup accelerator Y Combinator had its Demo Days, and the venture desk took it all in with an appropriately skeptical eye.
Also this week, Microsoft and Quantinuum, a quantum computing startup, made a scientific breakthrough — or so they claim.
NewsCanoo paid for its CEO’s jet: Kirsten reports that EV startup Canoo paid the rent for the CEO’s private jet — $1.7 million— in 2023.
Bonus roundNSFW on X: The social media company has confirmed that authorized users on the platform can create NSFW communities, ahead of a change that’ll see all NSFW content on X filtered by default.
What a week, everyone.
Two full days of Y Combinator demo day activity kept us busy, but the latest accelerator cohort’s launch was far from the only big story in startup-land.
Then to close out, we chatted through the impending Ibotta and Rubrik IPOs.
The latter deal could provide a fascinating heat-check for unprofitable unicorns that need to find some sort of exit, and quickly.
All told we chatted through startups from their very earliest form all the way through their most mature.
Nvidia might be clouding the funding climate for AI chip startups, but Hailo is still fightingHello, and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.
This is our Wednesday show, when we take a moment to dig into a raft of startup and venture capital news.
No big tech here!
Keep in mind that Y Combinator’s demo day kicks off today, so we’re going to be snowed-under in startup news the rest of the week.
Consider today’s show the calm before the storm.
Footage obtained by TechCrunch shows the catastrophic ending that Astra’s Rocket 3.0 suffered during prelaunch testing in March 2020.
“I can confirm we had an anomaly on the launch pad,” Alaska Aerospace CEO Mark Lester told local reporters at the time.
At the time, Astra was taking such failures in stride.
The deal is expected to close sometime this quarter, at which time Astra will cease trading on the Nasdaq.
Astra did not return a request for comment on the 2020 launch failure.
The current AI wave is a never-ending barrage of news items.
To understand what I mean, ask yourself how long you spent considering the fact that Amazon put another $2.75 billion into Anthropic AI last week.
We’ve become inured to the capital influx that is now common in AI, even as the headline numbers get even bigger.
Sure, Amazon is slinging cash at Anthropic, but single-digit billions are chump change compared to what some companies have planned.
Hell, even smaller tech companies — compared to the true giants — are spending to stay on the cutting edge.
