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IPO Market Fires Up 4 New Offerings This Week

on February 6, 2017

The big IPO news last week was Snap Inc.’s initial filing for an IPO of some $3 billion at a market value of $18.3 billion according to a note from Manhattan Venture Research. The company said it estimates 2017 sales of around $1 billion and is hoping for a valuation nearer $25 billion. It’s early days yet on this one.

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Snapchat Owner Snap Smacked On $25 Billion Valuation Target

on February 6, 2017

A report by Manhattan Venture Partners noted that Snap has a highly coveted user base but loyalty is a major concern. Snap’s users are predominantly in the highly coveted 18-34 age group, but current trends drawn from the S-1 prospectus suggest enthusiasm is currently waning.

“The company’s mobile native and visual format is appealing to a user base that is young and on the move, and tired of the filtered viral feeds of most online sites,” wrote Manhattan Ventures analyst Santosh Rao, in a research report on Snap. “The biggest challenge for Snap is to maintain its differentiated appeal, broaden the platform to other ‘sticky’ services and features, and keep refining its monetization engines. More important, it has to show a clear path to operating profitability following a honeymoon of 2 or 3 quarters which it will enjoy as a public company.”

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How Snap stacks up against Facebook and Twitter

on February 6, 2017

The initial-public-offering filing by Snap Inc. has generated a lot of attention, as one of the largest technology IPOs in years and an offering that could value the company at up to $25 billion.

Because of its social messaging app, Snapchat, and large valuation, the company SNAP, +0.00% has drawn comparisons to the IPOs of Facebook and Twitter. And during its road show, Snap reportedly said it was the next Facebook, not Twitter, according to the Wall Street Journal, but after it revealed large net losses, investors and analysts are not so sure. “It is concerning, because people got burned with Twitter,” said Santosh Rao, head of research at Manhattan Venture Partners.

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Athletes and entertainers to get easier access to shares of hot start-ups shortly before IPOs

on February 1, 2017

A Los Angeles financial adviser who says he works with sports stars, hip-hop and other celebrities has teamed with an investment firm to help clients get stakes in giant start-ups destined for blockbuster initial public offerings.

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Tapping Nas’ former fund manager, Manhattan Venture Partners launches MVP All-Star fund

on January 31, 2017

A former fund manager at QueensBridge Venture Partners, the venture capital firm made famous by the hip-hop legend Nas, has joined boutique merchant bank Manhattan Venture Partners.

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How Facebook is taking on the responsibilities of a news organization

on December 19, 2016

On today’s show, we’ll talk about Facebook‘s fight against fake news articles; reports that Japan has overtaken China as the biggest holder of U.S. debt; and one organization’s effort to get consumers to buy real Christmas trees.

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Airbnb trying to get along with regulators ahead of IPO

on December 13, 2016

Analysts who follow Airbnb aren’t so sure. “Revenue will be affected — you can’t get around that,” said Santosh Rao, head of research at Manhattan Venture Partners. But Rao says that while the exact regulatory concessions that Airbnb would make have been unclear, it was obvious to anyone that the company’s game of putting off accepting new rules couldn’t last forever. The events of the past week don’t change how he values the company. “I factored that in,” he said. “It’s not going to be a straight walk.”

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Mutual Funds Sell Airbnb, DocuSign Shares

on December 12, 2016

DocuSign shares traded higher about a year ago, said Jared Carmel, managing partner at secondary markets firm Manhattan Venture Partners, in part because the company was reluctant to approve secondary stock sales that were below roughly $16 per share. The company has since loosened those restrictions, allowing trades to happen at lower prices, which has made it easier for employees to cash out some of their stock holdings, Mr. Carmel said. DocuSign did not respond to requests for comment.

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Airbnb Turns the Volume Down on Its Fights With Regulators Everywhere

on December 8, 2016

Santosh Rao comments in “Airbnb Turns the Volume Down on Its Fights With Regulators Everywhere”. Airbnb has always operated under a cloud of legal uncertainty as it battled city governments over how to regulate its network of short-term rental properties. The company has been kicking it into high gear to clear the situation up in recent days. On Wednesday, it released a report laying out its approach to local regulations, trying to capitalize on a weeklong stretch in which it agreed to enforce limits on rentals in London and Amsterdam, dropped a lawsuit against New York City, and praised new rules in New Orleans as a potential nationwide model.

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Snapping up Snap Ahead of IPO Proves Tough

on December 1, 2016

Jared Carmel, managing partner at Manhattan Venture Partners, another firm that works with investors in secondary private tech shares, said he has spoken to buyers, mostly hedge funds and so-called “family offices” that represent groups of wealthy individuals, which currently want to invest around $200 million in Snap. But he hasn’t been able to find shares to buy.

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