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Some Quick Thoughts on Exits for Technology Startups

Both Sides of the Table

Later today I’m presenting at the annual Rincon Ventures Summit in Santa Barbara. The median VC exit price for deals is $70 million (FLAG Capital via Bryce.VC). So entry price matters a lot. Both can hurt you in an acquisition. Startup Exits: A Primer from msuster. ” That’s b t. Often it does.

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Procore Prices IPO, Starts Trading Today

socalTECH

Carpinteria-based construction management software developer Procore Technologies priced its IPO last night, saying it will sell 9,470,000 shares of its common stock at a price of $67.00 The IPO priced above the company's initial estimated IPO range, which was $60.00 Piper Sandler & Co.,

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TrueCar Buys Automotive Information Firm ALG

socalTECH

Santa Monica-based TrueCar , the online publisher of new and used vehicle pricing that is headed by Scott Painter, said Tuesday that it has acquired ALG, Inc. , Financial terms of the acquisition were not disclosed, however, TrueCar said that DealerTrack will receive an equity interest in TrueCar as part of the deal.

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Sientra Up In IPO Trading

socalTECH

Santa Barbara-based Sientra , a developer of aethetic medicine implants, rose in its IPO on Wednesday, trading as high as $17.90 The company priced last night at $15 per share, selling 5 million shares of its common stock on the NASDAQ as SIEN. The company had priced at the midpoint of its initial estimated IPO range of $14.00

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Sonos Sets Estimated IPO Pricing Range

socalTECH

Santa Barbara-based Sonos , the developer of user-friendly, Internet-connected, whole-home audio systems, set its estimated IPO pricing range on Monday morning, the next step in bringing the company to market. According to its updated S-1 filing, Sonos is looking to sell 13,888,888 shares of its common stock at between $17.00

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Sonos Sees Successful IPO

socalTECH

Santa Barbara-based Sonos saw a successful initial public offering (IPO) on Thursday, closing its first day of trading on the Nasdaq Global Select Market up nearly 33 percent. Sonos, which priced at $15.00 percent above the IPO price. Sonos had originally estimated its IPO pricing at between $17.00 on Thursday, 32.73

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Procore Now Worth More Than $11 Billion After IPO

socalTECH

Carpinteria-based Procore, the construction management software developer which went IPO this morning, is now worth more than $11 billion in market value, after pricing at $67.00 The IPO is the first in the technology sector in the Santa Barbara area since Sonos went IPO in 2018. above its debut, up 31.34%. Piper Sandler & Co.,