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NOTEBOOK – One Good Read:Can WeWork survive?

on September 25, 2019

WeWork CEO Adam Neumann is out and Fast Company asks, “Can WeWork Survive?” Neumann, who remains non-executive chairman and We’s largest individual shareholder, told employees in an all-staff memo Tuesday that “our business has never been stronger, but since the announcement of our IPO, too much of the focus has been placed on me.” Neumann’s departure was welcomed among Investors, rivals and many employees. “Enough of this ‘saving the world business,’” says Santosh Rao, who covers pre-IPO startups as head of research at Manhattan Venture Partners — making reference to Neumann’s stated ambition that We’s mission has been to elevate the world’s consciousness. “Investors are saying, ‘Show me the money.’”

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WeWork’s CEO drama has one industry insider calling it an ‘Elon Musk situation’

on September 24, 2019

“Startups deserve to have the visionary on board,” Santosh Rao, head of research at Manhattan Venture Partners, told Business Insider on Tuesday. “But this is a weird situation. He will be there but he’s not going to run the company.”

“It’s almost like an Elon Musk situation,” he continued. “The company runs on his charisma and vision, so I think this is a good middle ground.”

Earlier this month, Manhattan Venture Partners, an investment firm and research shop that focuses on later stage, Pre-IPO companies, initiated coverage on WeWork shortly after its IPO documents were filed with US regulators. In its report, Rao said WeWork was worth about $28 billion, about half of the company’s originally targeted value.

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2019 is an IPO bonanza: Investors going bananas over cloud companies going public

on September 23, 2019

“This has been the year when cloud-based companies and on-demand services came of age,” Santosh Rao, head of research at Manhattan Venture Partners, told Fortune.

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Manhattan Venture Partners speaks to TIMES NOW on Indo-US relationship.

on September 23, 2019

PM has done a great job: Santosh Rao, Partner & Head of Research, Manhattan Venture Partners tells TIMES NOW on Indo-US relationship.

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Airbnb says it will go public next year

on September 23, 2019

Airbnb is also pulling in more money from its tourism business, with more than 40,000 tours and “experiences” booked in over 1,000 cities.

All of this travel has led to over $100 billion in economic impact across 30 countries, the company said.

This growth hasn’t come without controversy, and Airbnb’s success will depend on its ability to continue to thread the needle between government regulation over the company’s impact on housing prices and the creation of vacant apartments and homes that are only investment properties that increase Airbnb’s housing stock.

The company’s imminent public offering is good news for investors like Andreessen Horowitz, Manhattan Venture Partners, Sequoia Capital, TCV, Firstmark and Altimeter Capital, which have collectively invested roughly $4.4 billion into the company, according to Crunchbase.

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Impossible Foods will make its grocery store debut in California

on September 23, 2019

Andrea Lamari Walne of Manhattan Venture Partners, which owns $15 million worth of Impossible shares, says she’s never seen such skyrocketing popularity among investors. She believes Impossible Foods has a brighter future over its rivals.

“Impossible is showing they’re clearly a stronger bet over Beyond Meat, because of consumer demand and their growth trajectory,” said Walne.

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It’s official: Airbnb to go public in 2020

on September 23, 2019

The exact size of Airbnb’s IPO is unknown, given that it has raised at least $4.4 billion coming into it and was last valued at $31 billion in 2017, a figure likely far higher today. But it’s a reasonable guess that the public offering will be a big one. It won’t be as big as that of Uber Technologies Inc., which floated on a valuation of $82.4 billion earlier this year, but it will certainly be up there.

Whatever the number, the winners will be Airbnb’s investors, which include Andreessen Horowitz, Manhattan Venture Partners, Sequoia Capital, TCV, Firstmark and Altimeter Capital.

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Why Amazon is ‘going all out’ to find new talent at its job fairs, according to one analyst

on September 18, 2019

“30,000 is a big number, but Amazon needs a lot of people,” Santosh Rao, Head of Research at Manhattan Venture Partners, told Yahoo Finance’s The Ticker this week.

Amazon has more than 650,000 employees worldwide, with the number likely to rise. This spring, Amazon posted the first job openings for its Northern Virginia location. The company aims to fill 400 positions there by the end of the year, with 25,000 people expected to be employed in the next 12 years.

“They’re going all out, being proactive, preemptive you could say, ahead of the holiday season,” Rao said. “But more than that, to establish their business in the new verticals.”

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Uber, Lyft per-driver costs in California could jump 30% under gig work law

on September 17, 2019

Santosh Rao, head of research at Manhattan Venture Partners, said if costs go up for Uber and Lyft and the ride-hailing companies have to pay for employee benefits, they will hire fewer drivers but those drivers will work longer hours.

Flexibility is key with gig economy companies, Rao added, since otherwise it might as well be a traditional job.

“It’s not about economic stability. It’s about flexibility with economic incentives,” Rao said in an interview. “People like flexibility.”

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WeWork and Saudi Aramco Pose Big Tests for JPMorgan’s Resurgent Underwriting Business

on September 13, 2019

“There is a public relations situation that needs to be managed; the last thing [JPMorgan] wants is to be called greedy and a mercenary,” says Santosh Rao, head of research at Manhattan Venture Partners, a boutique merchant bank focused on pre-IPO companies. “But they will definitely make it work, because the stakes are very high and there is the chance of repeat business.”

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