Spotify Technology S.A. (NYSE:SPOT),
Slack Technologies Inc (NYSE:WORK),
Asana Inc (NYSE:ASAN), and
Palantir Technologies Inc (NYSE:PLTR), all having taken place on the
Intercontinental Exchange Inc (NYSE:ICE)-run New York Stock Exchange.
Why It Matters: Earlier this month, the largest cryptocurrency exchange in the United States, Coinbase, disclosed an average share price of $343.58 in a private market auction in a filing with the U.S. Securities and Exchange Commission.
The auction implied a valuation of $89.8 billion for Coinbase, given the 261.3 million outstanding shares reported by the company. The Nasdaq reference price values Coinbase at about $65.3 billion. It s worth noting that such estimates are often conservative and the first day of trading gives a better idea of the market valuation of companies in direct listings.
Coinbase sets reference price of $250 per share ahead of its direct listing
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Cryptocurrency exchange provider Coinbase Global Inc. today set a reference price of $250 a share ahead of its direct stock listing April 14.
The price would value the company at $65.3 billion on a fully diluted basis, presuming 266.2 million shares outstanding but it would be valued at least at $49.19 billion, according to Reuters. Coinbase announced its decision to go public via a direct listing in January before announcing the planned date earlier this month.
Founded in 2012, Coinbase has grown to become the largest U.S. registered cryptocurrency exchange, although it offers more services than simple cryptocurrency buying, selling and wallet functions.
Coinbase reference price for listing is set at US$250 by Nasdaq
Crystal Tse and Katie Roof, Bloomberg News The Coinbase application on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Monday, Jan. 4, 2021. Coinbase Inc. knew cryptocurrency XRP was a security rather than a commodity and illegally sold Ripple Labs Inc. s tokens anyway, a customer argues in a proposed class-action lawsuit over the commissions the crypto exchange collected. Photographer: Tiffany Hagler-Geard/Bloomberg , Bloomberg
The Nasdaq set a reference price of US$250 for the direct listing of Coinbase Global Inc., the cryptocurrency exchange that will start trading Wednesday via a direct listing.
14 Best Cloud Computing Stocks To Invest In
Cloud computing is one of the most in-demand and fastest-growing tech sectors boosted by digitalization, especially during the pandemic. The COVID-19 pandemic further highlighted the demand for cloud computing services given their flexible costs, scalability, and efficiency. According to a PWC study, in the first quarter of 2020, spending on cloud computing was already at $29 billion, up 38% compared to the same quarter of 2019.
Cloud computing is the fastest-growing tech segment in the market, with over 3.6 billion users in 2018 and a global market size that reached $266 billion in 2019. Many investors believe that the cloud computing industry will continue to grow as more companies adapt to the work-from-home era. For instance, during the enforced lockdown, companies relied solely on the adaption of Software-As-A-Service (SaaS) based solutions to safeguard their employees. According to a study published in Insivia, in 2021, SaaS s
10
Microsoft Corp. has agreed to buy artificial intelligence company Nuance Communications Inc. for $16 billion, extending chief executive Satya Nadella s run of big acquisitions to accelerate growth in everything from healthcare to videogaming.
Microsoft said Monday it would pay $56 per Nuance share, a 23% premium over Friday s closing price, in a bet on the growing demand for digital tools within healthcare.
The all-cash deal is Microsoft s second largest acquisition under Mr. Nadella. The company in 2016 spent about $26 billion for professional network LinkedIn Corp.
Mr. Nadella s deal making has taken off since that landmark purchase. Microsoft has undertaken more than 100 acquisitions in the past four years, according to data provider Dealogic, committing more than $26 billion not including the Nuance deal.