Move over FANG! There may be another acronym on investors lips in the New Year.
Rob Cox, the global editor at Reuters Breakingviews, says Spotify, Lyft, Airbnb, and WeWork - aka SLAW - will be the next generation of disruptive companies to watch.
“We think they’re going to be a great way to play a whole bunch of different ways that we think about working, that’s WeWork; the way we think about playing, Spotify, and the way we get around the world and have fun, whether it’s Airbnb when we travel or of course Lyft,” he said.
These start-ups, all of which are candidates to tap the public markets in 2018, are shooting to change more than the way people consume products, though. Spotify, for example, is reportedly looking to bypass the traditional IPO process entirely, eschewing underwriters, and list its shares directly on the New York Stock Exchange.
Cox says that would be a big blow to bankers.
“They’re going to lose out because this deal is going to go straight to market,” he said. “They are not going to underwrite the IPO, so they’re not going to get the 7 percent [fee] on the deal.”
Lyft meanwhile, which just hired a new vice president of investor relations, would be the first time investors get an opportunity to buy into transportation as a service -- an opportunity, Cox says, is disruptive in its own right.
For full interview [click here](https://cheddar.com/videos/the-tech-ipos-to-watch-in-2018).
Google has agreed to pay $700 million to settle an anti-trust settlement.
Stocks were up after the closing bell as Wall Street continued to pin their hopes on rate cuts after last week's comments from the Fed.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Google has agreed to pay $700 million and make several other concessions to settle allegations that it had been stifling competition against its Android app store — the same issue that went to trial in another case that could result in even bigger changes.
Nicki Minaj just reached a milestone that no other woman in rap has reached.
Apple announced that starting this week, it will stop selling some versions of the Apple watch in the U.S.
Southwest Airlines will pay a $35 million fine as part of a $140 million settlement to resolve a federal investigation into a debacle in December 2022 when the airline canceled thousands of flights and stranded more than 2 million travelers over the holidays.
The House of Representatives recently passed a bill aimed at increasing transparency in healthcare.
If you have a flexible spending account, here's some short information for you so you don't leave money on the table.
With high healthcare costs, bills can quickly add up. In some cases, it is possible to negotiate your medical bills. Barak Richman, law professor at George Washington University, joined Cheddar News to discuss the easiest way to talk to medical debt companies about what's owed.
