|Bid||0.00 x 1100|
|Ask||0.00 x 1100|
|Day's Range||19.53 - 20.80|
|52 Week Range||19.53 - 42.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Dec 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||30.63|
NEW YORK, Nov. 12, 2019 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Slack Technologies, Inc. (NYSE: WORK) pursuant or.
An old investment saw goes like this: "Market tops are processes, bottoms are events." This means that in the stock market, it takes time for all the moving parts to top out and head lower. It's usually a gradual affair, unlike major bottom that are often marked with panic selling and sharp moves.The market can easily shrug off events that could hurt it, such as a wide miss on economic growth or unusually weak housing statistics. However, when major issues start to accumulate, before we realize it, we've hit a tipping point where there are too many changes for the bull market to handle.Let's be clear: We are not trying to pick a top or master market timing. But investors should take action when it becomes clear things have changed for the worse. And the sooner we recognize that change, the better.Here are five signs investors should look for to gauge the likelihood of a stock market top. They're not set in set in stone - what was effective at one peak might not be effective for the next. However, evaluating these major areas still can provide clues as to the market's health and intentions. SEE ALSO: The 15 Best Recession-Resistant Stocks to Buy
Adaptavist, a leading global Atlassian partner, today announces its partnership with Slack Technologies, Inc (NYSE: WORK), a collaboration hub that connects you to the people and tools you work with every day, making it one of Slack’s first partners in Europe. The partnership allows Adaptavist to use its expertise in the software development and IT space to help enterprises transform the way they approach communication at scale. As a result, Adaptavist now offers services to create custom automations, build innovative chatbots, and integrate Slack with any system that allows employees to collaborate and solve problems in real time.
RADNOR, PA / ACCESSWIRE / November 11, 2019 / The law firm of Kessler Topaz Meltzer & Check, LLP reminds Slack Technologies, Inc. (NYSE:WORK) ("Slack") investors that a securities fraud class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Slack's Class A common stock pursuant and/or traceable to Slack's registration statement and prospectus (collectively, the "Registration Statement") for the resale of up to 118,429,640 shares of its Class A common stock whereby Slack began trading as a public company on or around June 20, 2019. According to the complaint, on September 4, 2019, Slack reported its second-quarter fiscal 2019 results and issued guidance for the third quarter, expecting a wider loss than analysts predicted.
Slack Technologies, Inc. (NYSE:WORK) today announced that it will report its financial results for the third quarter of fiscal year 2020 ended October 31, 2019 following the close of the U.S. markets on Wednesday, December 4, 2019. A live webcast of the conference call will be available on the Slack Investor Relations website, investor.slackhq.com.
NEW YORK, NY / ACCESSWIRE / November 11, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Slack Technologies, Inc. ("Slack" or "the ...
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Slack Technologies, Inc. pursuant or traceable to Slack’s initial public offering of ordinary shares conducted in June 2019 of the important November 18, 2019 lead plaintiff deadline in the class action.
Zhang Investor Law announces a securities class action lawsuit on behalf of shareholders who bought shares of Slack Technologies, Inc. (NYSE: WORK) between pursuant or traceable to the June 2019 IPO, inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than November 18, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
Even the best-performing new stock companies from the region have been hit by a reset that appears to be happening on Wall Street.
Wedbush analyst Dan Ives argues Wall Street is too bullish on the company’s growth prospects and too dismissive of the growing competitive threat posed by Microsoft Teams.
Instant messaging and file-sharing platform Slack pinned with one-year price target more than 30% below its current level. MSFT's Teams is seen as a tough competitor.
RADNOR, PA / ACCESSWIRE / November 7, 2019 / The law firm of Kessler Topaz Meltzer & Check, LLP reminds Slack Technologies, Inc. (NYSE:WORK) ("Slack") investors that a securities fraud class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Slack's Class Class A common stock pursuant and/or traceable to Slack's registration statement and prospectus (collectively, the "Registration Statement") for the resale of up to 118,429,640 shares of its Class A common stock whereby Slack began trading as a public company on or around June 20, 2019. According to the complaint, on September 4, 2019, Slack reported its second-quarter fiscal 2019 results and issued guidance for the third quarter, expecting a wider loss than analysts predicted.
Wedbush analyst Daniel Ives began coverage of Slack Technologies Inc. with an underperform rating and $14 target price Thursday, citing competition from Microsoft Corp. . "The Slack solution is impressive and represents a strong growth opportunity; however we believe penetrating this next phase of enterprises will be incrementally more difficult as the Microsoft/Teams value proposition presents a major competitive hurdle going forward in sales cycles," Ives wrote. He expects that the threat from Microsoft's Teams product could slow growth "quicker than the Street is anticipating." Slack's stock was down 1.2% in after-hours trading Thursday. The shares have fallen 34% over the past three months, as the S&P 500 has increased 7%.
New York, New York--(Newsfile Corp. - November 6, 2019) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Slack Technologies, Inc. (NYSE: WORK) ("Slack" or the "Company") of the November 18, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi logoIf you invested in Slack stock or options pursuant and/or traceable to ...
(Bloomberg Opinion) -- SoftBank Group Corp. Chairman Masayoshi Son is in the kind of pickle that even Jamie Dimon can’t get him out of.Earnings for the September quarter show just how badly his Vision Fund is performing, and accelerate the need to raise a second incarnation just to keep the money flowing through SoftBank’s books.While its stake in the $97 billion Vision Fund accounts for less than 15% of SoftBank’s holdings, that investment vehicle made up 53% of operating income last year. Crucially, 68% of that contribution came from unrealized gains on the valuation of investments. In other words, SoftBank is heavily reliant on paper profits.As a result, the dive in shares of Uber Technologies Inc., Slack Technologies Inc. and Guardant Health Inc. during the three months to Sept. 30, combined with a 498 billion yen ($4.6 billion) write-off on WeWork, weighed not only on the Vision Fund but on the company itself, forcing SoftBank to an operating loss of 704 billion yen, its first in more than a decade. The fund alone lost 970 billion yen for the quarter, which means that it was underwater even before WeWork came along. The only thing that stopped it blowing out further was yet another paper profit: a $2.6 billion gain in the value of its stake in Alibaba Group Holding Ltd. To really understand what’s going on, however, we need a deeper dive into SoftBank and its relationship with the Vision Fund. Only a handful of the fund’s holdings are in publicly listed shares, whose value can be assessed in real time. What’s more, the biggest contributors to the fund’s gains to date come from buying and flipping two investments: Nvidia Corp. and Flipkart Online Services Pvt. Ironically, its single biggest winner to date — Nvidia — was bought and sold in public stock markets, not through venture investing.The rest of its shares are private, including marquee unicorns such as Didi Chuxing Inc., ByteDance Ltd., Grab Holdings Inc. and The We Co. — the official name of WeWork. Many got their sky-high valuations because of SoftBank-led investment rounds. Dimon, CEO of JPMorgan Chase & Co., a major backer of WeWork, already learned his lesson. He told CNBC this week, “Just because a valuation prints at a certain level by one investor doesn’t mean it’s the right valuation. That’s not price discovery.” If Son isn’t listening to Dimon, then let’s hope investors are, because the message is clear: We only know what these shares are worth after they list. Even the bailout and SoftBank’s 83% devaluation of WeWork doesn’t mean the office-rental company is truly worth its new $8 billion number; that’s merely what Son and his team think. The falling price tag on Uber, Slack, Guardant and WeWork all show us to be wary of SoftBank’s ability to correctly value a company. And how the Vision Fund and SoftBank make their money — quarter in and quarter out — is heavily dependent on how much Son thinks his stable of more than 80 companies is worth.Even if the fund doesn’t make a dime, it’s on the hook for close to $3 billion per year in coupon payments on around $40 billion of preferred shares that pay 7% per year. This cash need is probably what prompted the fund, and not SoftBank, to take out a $4.1 billion three-year loan led by Mizuho Financial Group Inc., JPMorgan, UBS Group AG and Saudi Arabia’s Samba Financial Group.A more accurate account of how much SoftBank has made from the Vision Fund might come from the money it has actually received. It plays two roles here: SoftBank the investor — just like the Saudi and Abu Dhabi governments — receiving a distribution when the fund sells an investment at a profit; and SoftBank the fund manager, earning a fee for sourcing and executing deals.All this explains why SoftBank not only wants to raise a second $100 billion fund, but truly needs to: From the fund’s inception through to June 30 this year, it earned $3.2 billion in management performance fees, twice the $1.6 billion it received in distributions as an investor. That distribution is supposed to rise over time as more investments come to market or get acquired, but the decline in publicly traded shares and the cooling mood toward unicorns doesn’t augur well for the future.With the first Vision Fund tapped out, there’s not a lot of money around to keep pushing up valuations, which in turn drive earnings of both the fund and SoftBank. And with public markets turning sour, hopes of a steady flow of distributions from cashed-out investments are also dimming. That makes fees the most reliable way to keep the machine ticking over. On Thursday, Softbank announced that “preparations for the full-scale launch of SoftBank Vision Fund 2 are underway.” So far that’s been a tough sell as would-be investors, including those who are part of the first fund, balk.Thankfully for Son, there’s a patron who owes him a favor. Having dodged questions over the murder of journalist Jamal Khashoggi at the hands of Saudi agents, and telling Crown Prince Mohammed bin Salman that SoftBank wouldn’t abandon him, now seems about the right time to expect a check in the mail. The Saudis can probably afford it. It helps when your own company is about to become the most valuable in the world. To contact the author of this story: Tim Culpan at email@example.comTo contact the editor responsible for this story: Rachel Rosenthal at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Masayoshi Son is finally disclosing the damage from SoftBank Group Corp.’s bets on WeWork and Uber Technologies Inc.The Japanese investment powerhouse on Wednesday reported its first quarterly operating loss in 14 years -- about $6.5 billion --after writing down the value of a string of marquee investments. It swallowed a charge of 497.7 billion yen ($4.6 billion) for WeWork, whose spectacular implosion turned the once high-flying shared-office startup into a Silicon Valley punchline.The losses call into question the billionaire founder Son’s deal-making approach just as he’s trying to raise an even larger successor to his $100 billion Vision Fund. The investment vehicle had been a driver of profit growth at SoftBank, contributing over $14 billion in mostly paper gains over the past two years. Now, the shrinking valuation of Uber and WeWork, once among the brightest stars in the SoftBank constellation, raises the prospects of more writedowns in the Vision Fund’s portfolio with its high exposure to businesses that prioritize growth over profitability.On Wednesday, SoftBank’s chairman took some blame for his poor decisions. “There was a problem with my own judgment, that’s something I have to reflect on,” said an unusually somber Son.But the entrepreneur then launched into a spirited defense of his track record. He began by throwing up on a giant screen several newspaper headlines, saying media reports had pegged SoftBank or WeWork -- or both -- as bound to go bankrupt. Then he launched into an exposition of how SoftBank had made money for its investors: Even Slack Technologies Inc. and Uber had proven profitable bets relative to their acquisition cost, despite subsequent nose-dives on public markets. “I’m going to explain things as they are, no excuses.”Masa Son Desperately Needs That Second $100 Billion: Tim CulpanThe operating loss was 704.4 billion yen in the three months ended Sept. 30, the Tokyo-based company said in a statement. That easily surpassed the 230.8 billion yen average of analysts’ projections, and compared with a 705.7 billion yen profit a year earlier. Its signature Vision Fund -- the world’s single largest pool of startup investments -- reported a 970.3 billion yen loss in the quarter. SoftBank said the fund’s 88 investments were worth about $77.6 billion, a 9.8% gain in value relative to the cost at which it acquired the stakes. The company reported a gain in valuation for 25 companies, the same number that saw their worth decline.SoftBank reported 537.9 billion yen of unrealized losses in a plethora of investments from Uber to WeWork. Analysts had predicted a charge to be in excess of $5 billion and as much as $7 billion. The co-working startup was valued at $7.8 billion at the end of September -- a precipitous fall from about $47 billion in January.Read more: WeWork Weighs Exiting Some Hong Kong Property in PullbackLate last month, WeWork secured a $9.5 billion rescue package from SoftBank, a deal that handed 80% of the company to the Japanese conglomerate. That’s on top of the more than $10 billion SoftBank and its Vision Fund have already invested into the co-working giant. SoftBank has said it didn’t get a majority of voting rights, meaning its troubled investee will be treated as an associate, not a subsidiary -- potentially keeping its balance sheet free of some $22 billion of debt and $47 billion in looming lease-payment obligations.The deal includes $5 billion in new financing and an acceleration of a $1.5 billion existing commitment. SoftBank will also offer to buy as much as $3 billion from existing shareholders. WeWork’s founder Adam Neumann left the company’s board as part of the package, replaced by SoftBank executive and newly appointed Executive Chairman Marcelo Claure.“Son’s handling of WeWork raises some fundamental questions about his investment strategy that need to be addressed,” Jefferies Group senior analyst Atul Goyal said ahead of the earnings release. “There will be more failed investments in the future, how does he plan to handle them?”Read more: WeWork Mess Leaves SoftBank’s Masa Son $6 Billion Poorer(Updates with Son’s comments from the fourth paragraph.)\--With assistance from Kazu Hirano.To contact the reporter on this story: Pavel Alpeyev in Tokyo at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Peter Elstrom, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Masayoshi Son is paying the price for bold bets on startups from WeWork to Uber Technologies Inc.The founder of Japan’s SoftBank Group Corp. has seen his net worth slide about $6 billion from its peak this year after his strategy of aggressively backing technology pioneers backfired. His fortune tumbled to roughly $13.8 billion as of Tuesday, according to the Bloomberg Billionaires Index, after peaking in July at about $20 billion.Son will give details of the damage on Wednesday when his Japanese conglomerate reports earnings, including likely writedowns for Uber and WeWork. The Vision Fund, its primary investment vehicle for startups, is said to be planning to swallow a charge of at least $5 billion. Some of that stems from the spectacular implosion of WeWork, the once-celebrated co-working company that SoftBank is now bailing out after systemic governance failures tanked its IPO attempt. The U.S. company, which raised money at a $47 billion valuation in January, was said to be valued at less than $8 billion in the rescue package.“Son has been through a number of ups and downs before, but it seems like these days he’s taking on more and more risk,” said Mitsushige Akino, an executive officer with Ichiyoshi Asset Management Co. in Tokyo. “What’s really spooking investors is that they don’t know if WeWork is just the tip of the iceberg for SoftBank’s trouble.”Read more: SoftBank Vision Fund Planning Writedown of Over $5 BillionUber and WeWork, once among the brightest stars in the SoftBank constellation, now number among its worst performers. Their shrinking valuations have called into question Son’s investment credibility at a time he’s trying to raise an even larger successor to his original mega fund.Analysts expect SoftBank to post a net loss of about 300 billion yen in the quarter ($2.8 billion), compared with a profit of more than 500 billion yen a year earlier. Shares of Uber tumbled 34% in the third quarter, while Slack Technologies Inc., another SoftBank investee, dropped 37%. The poor public performance of its marquee investments also raises the question of whether the Vision Fund should reassess the valuations of other growth-focused companies in its portfolio, from ride-hailing giants Didi Chuxing and Grab Holdings Inc. to hotel startup OYO Rooms and food delivery app DoorDash Inc.SoftBank may book a $3.54 billion drop in the value of its Uber stake, a $750 million decline for Guardant Health Inc., and take a $350 million hit for Slack, according to Chris Lane, an analyst at Sanford C. Bernstein. The combined writedown for WeWork may be as much as $2.82 billion, assuming a slide in the company’s valuation to $15 billion from $24 billion, but remains uncertain. He said his estimates represented a worst-case scenario and may be offset by gains from other unlisted companies.SoftBank Gives ‘Very Public Lesson’ to Founders in WeWork OusterSon has a lot at stake personally. His net worth excludes $8.3 billion worth of SoftBank shares he put up as collateral for personal loans from 19 banks, including Credit Suisse Group AG and Julius Baer Group Ltd. The billionaire has pledged 38% of his stake in the Japanese firm, according to a June regulatory filing. That’s up from 36% at the start of the year -- and triple the level in June 2013.The 62-year-old also leveraged his stake in the Vision Fund, the world’s single largest investment pool for startups. And SoftBank’s compensation plan involves a lot of debt. Son loaned himself around $3 billion to invest in the first Vision Fund, according to people with knowledge of the matter who asked not to be identified because the information isn’t public.While SoftBank’s February announcement of a record 600 billion yen buyback sent its shares to a peak in April, the stock has since lost most of the gains and were largely unchanged ahead of the results on Wednesday.“Son is desperate enough to potentially announce another big buyback to show his confidence in the business and the Vision Fund,” said Amir Anvarzadeh, a market strategist at Asymmetric Advisors Pte in Singapore who recently removed SoftBank from his short-sell list. “If they do, and stock jumps further, we’ll be shorting it again,” he told Bloomberg Television.Read more: WeWork Isn’t Worth $47 Billion Anymore, But Its Rent Bill Is(Updates with a chart and shares in the penultimate paragraph)To contact the reporters on this story: Pavel Alpeyev in Tokyo at email@example.com;Venus Feng in Hong Kong at firstname.lastname@example.org;Takahiko Hyuga in Tokyo at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Peloton Interactive Inc. tumbled after frustrating investors with a focus on growth rather than profitability.“For us, profitability is a managed outcome,” Chief Executive Officer John Foley said on a call with analysts. “I believe if we pulled back on growth, we could be profitable tomorrow, but that is not what the board and the leadership of Peloton believes we should do.”The stock sank following the call, after being up more than 7% in early trading when the earnings were published.Wall Street is increasingly looking for realistic paths to profitability over growth-at-all-costs. Investors have shunned other IPOs this year that hewed to that model, including Uber Technologies Inc., Lyft Inc. and Slack Technologies Inc., which have all dropped at least 15% since their IPOs.New York-based Peloton, which sells a stationary bike, a treadmill and a subscription-based app for live and on-demand classes, said its loss narrowed in the first quarter to $49.8 million, or $1.29 a share, from $54.5 million, or $2.18. That beat analysts’ prediction for a loss of $114 million. But earnings before interest, tax, depreciation and amortization aren’t expected to be positive until 2023.After pricing shares at $29 in September, Peloton has fallen as low as $21.08. The stock was trading at $22.78 at 10:47 a.m. in New York, down 7.4%.In an interview, Foley described the market rout after the IPO as a “perfect storm of being lopped into all kinds of buckets that were unfortunate and wrong.” While various factors, from fitness fads to an IPO hangover and the overall economic environment, conspired against them, Foley said he had no regrets on the timing of the stock listing. “We’re all playing for the long game,” he said in an interview.Sales will be $1.45 billion to $1.5 billion in the year ending in June, Peloton said Tuesday in a statement. Analysts, on average, projected $1.39 billion, according to data compiled by Bloomberg. First-quarter revenue more than doubled from a year earlier to $228 million, compared with estimates of $199.4 million.Founded in 2012, the company describes itself as the “largest interactive fitness platform” in the world. It added 52,000 connected fitness subscribers in the first quarter to almost 563,000, slower growth than what it had experienced in the previous quarters, though the three-month period ended Sept. 30 is historically slow heading into the holiday season, the company said. Peloton, in a presentation to investors, said the fiscal second and third quarters are the strongest for revenue and subscriber growth “when we benefit from holiday sales, New Year’s resolutions and colder weather.”Peloton also has an app that shares its exercise programming with users who don’t own the hardware, but are willing to pay a monthly subscription fee for classes, which include yoga, meditation and strength training.Foley said sales in Canada and the U.K. “are ahead of expectations” and also “dramatically further ahead than at the similar time in the U.S.” Peloton will launch in Germany on Nov. 20, giving it a presence in the three largest fitness markets in the world, according to the company. Germany will also mark the first non-English offering. Sales and marketing expenses for these new areas and a continued push in the U.S. is a key reason why the firm is still operating at a loss.Peloton quietly acquired a Silicon Valley engineering firm, Gossamer Engineering, earlier this year to help it ramp up in-house development of products, according to people familiar with the transaction.The company launched a 30-day in-home free trial in early September, which could help with New Year’s fitness goals looming, JPMorgan Chase analyst Doug Anmuth wrote in a recent note to investors. The company is also planning to open new studios in New York and London, which could boost the stock, according to MKM analyst Rohit Kulkarni. On the call, the firm said that this will impact member churn in the coming quarters, since users that decided to send the hardware back within the 30-days will be counted.(Updates with comments from analyst in fourth paragraph.)To contact the reporter on this story: Julie Verhage in New York at email@example.comTo contact the editors responsible for this story: Mark Milian at firstname.lastname@example.org, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Important Deadline Reminder: Investors who purchased or otherwise acquired Slack securities during the Class Period may, no later than November 18, 2019, seek to be appointed as a lead plaintiff representative of the class. On June 20, 2019, Slack filed its prospectus on a Form 424B4 with the SEC, which forms part of the Registration Statement.
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming November 18, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Slack Technologies, Inc. (“Slack” or the “Company”) (NYSE: WORK) investors who purchased Class A common stock pursuant and/or traceable to the Company’s registration statement and prospectus (collectively, the “Registration Statement”) for the resale of up to 118,429,640 shares of its Class A common stock whereby Slack began trading as a public company on or around June 20, 2019 (the “Offering”).
(Bloomberg) -- With companies like Uber Technologies, Inc., Slack Technologies Inc., and Pinterest Inc. going public this year, the question has been: How many millionaires will Silicon Valley mint? What’s not being asked is how much of that new wealth will go to women. The answer, according to a new study released Monday, is: not much. Carta, an equity management platform, crunched data from over 300,000 employees at more than 10,000 companies, and found four out of five paper millionaires are men.The jobs that land the biggest equity packages tend to be held by men in C-suite roles, said Emily Kramer, Carta’s vice president of marketing. “As wealth goes up, the percentage of millionaires who are women go down because they are not CEOs, CFOs or founders,” she said. Chief marketing officers, the most common executive role held by women, have the lowest median equity award, 39% less than that of CFOs, which tend to get the most generous packages after CEOs. Among the world’s 500 richest people, there are just two female technology billionaires, according to the Bloomberg Billionaires Index. MacKenzie Bezos, a major shareholder of Amazon.com Inc., is worth $36 billion and Zhou Qunfei, the founder of Lens Technology, is worth $5.9 billion. Sheryl Sandberg, the chief operating office of Facebook, who is not in the top 500, has a net worth of $2.1 billion.Carta last year for the first time identified an “equity gap,” finding women in Silicon Valley held 47 cents for every dollar of equity men did. Carta this year found a slight improvement: Women hold 49 cents for every dollar in stock options men do, a 2% increase from last year. Women make up more than a third of all employees, but only hold 20% of equity wealth, the study finds. While most equity ends up being worth nothing, when a startup goes public or gets acquired, stock grants can result in a big payday, creating the next class of angel investors and entrepreneurs. And even with underwhelming valuations from tech companies this year, underrepresented employees are getting the “short end of the stick” and become “collateral damage,” said Henry Ward, the chief executive of Carta.The gender equity gap exists for a variety of interconnected reasons. Early employees often get better stock options than those who join later, and younger companies tend to have smaller proportions of women. There’s also a lack of representation on founding teams. Women only make up 13% of all founders in the data pulled by Carta, and female-founded teams only got 2.2 percent of venture funding last year. Women also say they don’t know what to ask for during already opaque salary negotiations. One woman who worked for a unicorn startup, who asked not to be identified to avoid alienating her former employer, said she didn’t know to ask for refresh grants after getting promoted several times. When the company went public, she ended up getting $20,000 (before taxes); she calculates she could’ve been a millionaire.As WeWork prepared to go public, Trista Kempa, who says she was the 17th employee, said she wasn’t offered options at all. “I was 23, naive, and didn’t know what equity or options were—I certainly didn’t know how much it could impact my financial future,” she tweeted. WeWork did not immediately respond to request for comment. Carta offers educational materials that teach women how to negotiate their liquidity preferences and ask for fair equity offer up front. “It’s not a matter of getting in the door,” said Carta’s Kramer, who is also head of Table Stakes, an initiative highlighting the gender gap in equity at venture-backed companies. “It’s about advising employees on how to avoid a WeWork situation.” To contact the author of this story: Candy Cheng in San Francisco at email@example.comTo contact the editor responsible for this story: Rebecca Greenfield at firstname.lastname@example.org, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
On CNBC's "Mad Money Lightning Round," Jim Cramer said Xilinx, Inc. (NASDAQ: XLNX ) has too much exposure to China. Cramer advised a viewer with a long position in Occidental Petroleum Corporation ...
Only wealthy institutions and individuals can invest in promising young companies while they are still private. Now is the time for policy makers to modernize and democratize the private market to allow smaller investors to participate.