Posts Tagged ‘ipo’
Need a Lyft?
If you’re looking for a new iPad, Apple is offering up a couple of new options.
A new 10.5” iPad Air ($499), and a 7.9” iPad mini ($399), both with retina displays, the A12 Bionic chip, and support for the first-gen Apple pencil.
For those keeping score, that mini has the same screen size as the previous generation. 9to5Mac writes that the Air is “a halfway house between the $329 iPad and $799+ iPad Pro tiers.”
On the dealmaking and moneyraising fronts, there’s also news from this Monday.
Fidelity National Information Services Inc. said it has agreed to acuire Worldpay Inc for roughly $35 billion in cash and stock, reports The Wall Street Journal.
Why do we care?
This deal would build a global payments giant and back-end financial services business in a sector “under pressure to cut costs, develop new products and add customers.”
The combined FIS and Worldpay expects to generate $500 million in additional revenue and annual cost cuts of about $400 million through combining their one-stop shop services to process online and in-store payments and manage transactions in multiple currencies. The enlarged group, which expects to have annual revenue of about $12.3 billion, also will offer services to manage fraud and advanced data analytics, the companies said.
FIS helps banks process credit-card transactions, service auto loans and handle back-office functions for money managers among a range of services that it offers. The company says its technology is used in managing transactions involving more than $9 trillion annually.
Finally, if you’re looking for a lift, ride-share company Lyft today disclosed it hopes to raise over $2 billion in its IPO, at an initial market cap that could top $19 billion.
Lyft is expecting to offer 30.77 million shares valued at between $62 and $68 per share, and its IPO road-show is expected to kick off today.
Might be cheaper to ride a scooter.
From Russia With Bailouts
Das vi dan ya.
That’s “goodbye” in Russia. So I should probably learn hello.
Answers.com explained it’s dobro pozalovat.
So, dobro pozalovat to Yandex, the Russian search engine, which followed short on the heels of LinkedIn’s IPO and went public earlier today on the Nasdaq, raising some $1.3B (dollars, not rubles).
Apparently, the issue was some 17 times oversubscribed, surprising considering that Yandex only has about 64% market share (although it is still the largest Web site in Russia).
Also a done deal: Twitter buys TweetDeck for roughly $40M. This has been rumored for some time, but apparently it’s really happened this time. Really. Seriously. #ftw
Is this the beginning of a great Twitter consolidation?
When a TweetDeck falls in the virtual Twitter forest, does it even make a sound???
Well, I’m just glad to see someone out there’s making some deals.
After watching HBO’s docudrama rendition of Aaron Ross Sorkin’s 2010 book about the financial crisis, Too Big To Fail, last evening, one might start to wonder.
I read the book.
The movie’s probably easier to consume in many ways, minus all the boring financial mumbo jumbo details, although it nearly made me ill to replay that denouement from the fall of 2008.
But, I have to say, William Hurt made for a wonderful SecTreas Henry Paulson, understated and steely, and James Woods cracked me up as vulgar Richard Fuld, the former CEO of Lehman Brothers. And Paul Giamatti as Fed Chairman Ben Bernanke…another classic performance by Giamatti.
The movie seemed to raise a central question: Was Paulson the hero who saved the day or the insider who protected the interests of his industry?
You get to watch the film (or read your history book, if you’re so inclined) and be your own judge.
But kudos to the HBO team for making a compelling film about what could have easily become a trite and boring re-enactment.
It was anything but boring…now, having seen it and completely paranoid, if I could only figure out a way to move all my retirement savings into a small bomb shelter immune from market movements if not the elements!