Hello and welcome back to Equity, TechCrunch’s mission capital-focused podcast, where we unpack the numbers behind the headlines.
This week Kate Clark and Alex Wilhelm dug into the latest, namely enormous news on the fund front from folks you know, two China-based companies going public on domestic exchanges and what’s next in the long-running sagas of getting Uber and Slack public.
First up, Kate talked us through the latest at Kleiner Perkins and Mary Meeker’s brand-new growth fund, named
Bond Capital. Alex has some more impressive context on that here, for interested parties; Kate has more here.
Next, we turned to the F-1 filings of Luckin Coffee and DouYu, two China-based companies joining the list of firms from the country that have chosen to go public here in the United States. With Luckin’s filing, we have an intriguing look into the costs of construction a hyper-growth company; as you can imagine, Luckin is running beautiful steep deficits, but is adding revenue incredibly quickly on a year-over-year basis. DouYo is intriguing for a distinct reason, namely that it only recently began generating gross profit. And in 2018, when it did start to create some margin to cover its operating costs, it didn’t make much.
Finally, we had two domestic public offerings to dig into. Slack, an exit we’ve long anticipated, is supposed to drop its S-1 today. If that’s the case Alex and Kate will be back at their mics to bring you the highlights from that filing. And then there’s Uber .
To cap off an enjoyable show, we chatted through the impending Uber debut. We expect the company to set a price range tomorrow, but if early reports are correct, the firm could be sandbagging a bit in hopes of raising its price next week. Lyft reports earnings on May 7, giving Uber a somewhat firm window to leap through if it wants to regulate its own narrative. (If Lyft’s earnings plummet short, for instance, and Uber hasn’t gone public by that point, it could be forced to lower its own pricing.)
That’s all we have for now. We’ll probably be back later today with an equity shot. Stay cool!