on February 18, 2020
“One of the big fears is we don’t know how bad the China coronavirus effects are. Is it going to be beyond China, the impact? So we don’t know that at this point. Every time it looks like it is contained, we get more news that it’s not. So I think that’s what’s causing some confusion there and that could be one of the reasons why the bond market is doing so well because people are saying we don’t want to take the risk.”
A Reuters poll of economists predicts the world’s second-biggest economy will slow to its weakest quarterly growth since the financial crisis over a decade ago.
on February 18, 2020
Coronavirus is infecting businesses.
It’s not just the wedding industry at risk. Electronics supply could be hit as well, including iPhone production.
“It’s everything: consoles, laptops, phones,” Santosh Rao, head of research at Manhattan Venture Partners, told Marketplace.
TV production could be next, Rao adds, as well as video game releases, since China supplies a significant amount of game development.
on February 13, 2020
It’s been a month since China announced the death of the first victim of the new coronavirus. The outbreak has since infected more than 44,000 people and spread far beyond China.
Federal Reserve Chairman Jay Powell told lawmakers on Capitol Hill this week that he’ll be watching for the virus’s impact on the U.S. economy.
Santosh Rao, head of research at Manhattan Venture Partners, said coronavirus has the potential to disrupt the electronics supply chain.
on February 7, 2020
Planning to list on the NYSE today under ticker “CSPR,” Casper has priced its initial public stock offering at $12 a share, down from an earlier range of $17 to $19. That values the company at around $500M, down from the $705M it valued itself at last week, and a significant hit for the mattress company that once prided itself as a unicorn. “The days of growth at any cost are over,” said Santosh Rao, who researches IPOs for Manhattan Venture Research. “You either have to be profitable, or take a haircut.”
on February 6, 2020
“The days of growth at any cost are over,” said Santosh Rao, who researches IPOs for Manhattan Venture Research. “You either have to be profitable, or take a haircut.”
on February 5, 2020
The new round of funding brings Turo’s total funding to $500 million, and adds Manhattan Venture Partners and Allen & Co as investors in the company. Through Manhattan Venture Partners, Fitzgerald, 2 Chainz, NBA players Victor Oladipo, Langston Galloway, and Thad Young, and NFL players Dee Ford, Tyrod Taylor, Malcolm Jenkins, and Clint McDonald are now shareholders in the company.
Manhattan Venture Partners is somewhat known for bringing a celebrity touch to private company funding rounds. The VC firm has an “All-Star Fund,” that helps celebrities and athletes invest in private companies.
on February 4, 2020
While the fast-growing company has repeatedly said it has no plans to seek a market listing, Santosh Rao, head of research at Manhattan, notes that the fintech space “has been buzzing with activity”, with consolidation the name of the game.
In Manhattan’s recent Venture Bytes monthly report, Mr Rao highlights a number of fintech-focused “megadeals” that have taken place over the past 12 months. These include Fis’s $43 billion (€39 billion) deal for Worldpay, Fiserv’s £22 billion (€26 billion) acquisition of First Data, and Global Payments $21.5 billion purchase of TSYS.
on January 22, 2020
When news broke in September that SoftBank-backed WeWork was pulling its doomed IPO, a chill ran across the capital markets.
Mere days before, entertainment and talent agency Endeavor had also pulled its IPO. In December, following disappointing growth, SoftBank sold back its nearly 50% stake in late-stage dog-walking startup Wag Labs to the company. And according to reports, pizza startup Zume was in talks with SoftBank to raise another funding round in late 2019, but the deal fell apart in December (the company subsequently laid off hundreds of workers in January).
on January 22, 2020
IPO watchers expect the 2020 market to be front-half loaded due to a big second-half event: the presidential elections.
“In an election year, IPO issuance is traditionally strong in the first two quarters, slow in the third quarter, then picks up in the end of the fourth quarter,” said Santosh Rao, head of research at Manhattan Venture Research.
“My best guess is the biggest names will try to come out well before the election,” he said.
on January 14, 2020
Privately held start-ups have typically not been keen to see employees enter contracts backed by their shares and options. But Andrea Walne, a partner at Manhattan Venture Partners, said with more than a dozen groups now offering financing tied to start-up stocks and options, she hoped a marketplace would develop. “Companies have been leaning far too much on their inability to provide financial and tax advice as a cop out to supporting employees with their stock options,” Mrs Walne said.
Venture Bytes is a monthly insight report highlighting topical ideas, current trends and emerging opportunities in the global technology landscape