News Technology

Eventbrite Searches For Tech Co. to Merge With

Sponsored

Blank-check acquisition company searches for a technology firm to merge with, since it made its stock exchange debut on Tuesday after increasing $200 million. The business, whose stock price closed up 1% at $10.10 on the newest York Stock Exchange, is focusing on technology that is fast-growing valued at around $1 billion, joining the competition among special purpose acquisition companies (SPACs) looking to take so-called unicorns public.

A SPAC is a shell business which raises money in an initial public offering (IPO) to pursue an acquisition at a romantic date that is later.

As creator of Eventbrite and early investor in Airbnb, Uber Technologies Inc (N:UBER) and Pinterest Inc (N:PINS), Hartz said he sees SPACs as an extension of venture investing.

“It’s capital to simply help the company develop and expand, but additionally cross in the market that is public” Hartz stated in an meeting. “we are not searching today that is big-name. We’re seeking to buttress them as special founders and operators to help founders build really something enduring.”

Over 100 SPACs are currently deals that are chasing showed information from SPAC analysis.

Hartz believes his experience becoming an entrepreneur, as well as their administration team, including former ZeroDown Chief Operating Officer Troy Steckenrider III and Spike Lipkin, chief executive of Newfront, helps them interact with technology founders, among who he’s seen a minute that is reckoning staying private for too time that is much.

“We heard from therefore founders that are many they wish to get out to the markets that are public,” said Hartz.

SPACs accounted for 40% of IPOs in the half that is first of 12 months, PwC data showed. Merging with SPACs has seen popularity that is companies that are rising a way to boost money faster with increased certainty. Current tech companies that went public through SPACs include online vehicle seller Shift Technologies and firm that is fintech Payments.

Goldman Sachs Group Inc (N:GS) advised the one SPAC IPO and Goodwin Procter LLP served as legal consultant. Blank-check acquisition company searches for a technology firm to merge.

Sponsored

Justin N. Richards

Justin N. Richards is a Florida-based technical analyst, market researcher, educator, and trader. Justin began his career in Chicago in 2001 performing futures market analysis for floor traders at the Chicago Board of Trade and the Chicago Mercantile Exchange. He also worked for numerous brokerage firms during that time, all of which hold him in high regard, and he has been providing outstanding analysis services for traders worldwide ever since. Mr. Richards is an expert in the area of market patterns, price and time analysis as it applies to futures, Forex, and stocks. In addition to these talents, he provides educational services for investors looking to improve their analysis and trade skills. Justin has a B.A. in Business Administration from UCLA and an M.S. in Financial Markets and Trading from the Illinois Institute of Technology. Justin’s professional experience, education, and discipline, not only make him an exceptional analyst, they point him out as a reliable, hard working and intelligent business strategist who is dedicated to his craft.
Follow Me:

Related Posts

Sponsored
Sponsored