|Bid||62.70 x 900|
|Ask||64.00 x 1300|
|Day's Range||62.86 - 64.27|
|52 Week Range||47.17 - 88.60|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||70.52|
Police in Salt Lake City say there still is no sign of missing University of Utah senior Mackenzie Lueck since she was dropped off by a Lyft driver early June 17. A police official says the investigation into her disappearance continues. (June 24)
McKenzie Lueck, 23, was not in distress when she was met at Hatch Park by an individual in a vehicle, according to authorities.
Mackenzie Lueck, a 23-year-old college student, was heading back to Salt Lake City from her grandmother's funeral, and was last heard from after arriving at the airport.
Bitcoin futures are flirting with $10K, hitting a 15-month high, despite concerns over Facebook's push into the cryptocurrency space. Yahoo Finance's Zack Guzman and Melody Hahm are joined by Kathryn Tuggle, HerMoney Editor-in-Chief, to discuss.
Which big tech stocks are looking good in 2019 as they approach new highs, and which ones look like they may be falling behind?
NEW YORK, NY / ACCESSWIRE / June 24, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have ...
LOS ANGELES, CA / ACCESSWIRE / June 24, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Lyft, Inc. ("Lyft" or "the Company") (NASDAQ: LYFT) for violations of the federal securities laws. Investors who purchased the Company's shares pursuant to and/or traceable to the Company's Initial Public Offering in March 2019 (the "IPO") are encouraged to contact the firm before July 16, 2019.
NEW YORK, NY / ACCESSWIRE / June 24, 2019 / Pomerantz LLP announces that a class action lawsuit has been filed against Lyft, Inc. ("Lyft" or the "Company") (LYFT) and certain of its officers. The class action, filed in United States District Court, for the Northern District of California, and indexed under 19-cv-03003, is on behalf of a class consisting of all persons and entities who purchased or otherwise acquired Lyft common stock pursuant or traceable to the Form S-1 Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with Lyft's March 2019 initial public stock offering (the "IPO" or "Offering"). This action asserts non-fraud strict liability claims under Sections 11 and 15 of the Securities Act of 1933 ("Securities Act") against Lyft and certain Lyft's officers and directors (collectively, the "Defendants").
NEW YORK, NY / ACCESSWIRE / June 24, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders ...
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Lyft, Inc. (“Lyft” or “the Company”) (NASDAQ: LYFT) for violations of the federal securities laws. Investors who purchased the Company’s shares pursuant to and/or traceable to the Company’s Initial Public Offering in March 2019 (the “IPO”) are encouraged to contact the firm before July 16, 2019.
NEW YORK, NY / ACCESSWIRE / June 24, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a loss you have ...
NEW YORK, NY / ACCESSWIRE / June 24, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.
NEW YORK, NY / ACCESSWIRE / June 21, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders ...
LOS ANGELES, CA / ACCESSWIRE / June 21, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Lyft, Inc. ("Lyft" or "the Company") (NASDAQ: LYFT) for violations of the federal securities laws. Investors who purchased the Company's shares pursuant to and/or traceable to the Company's Initial Public Offering in March 2019 (the "IPO") are encouraged to contact the firm before July 16, 2019.
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NEW YORK, NY / ACCESSWIRE / June 21, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have ...
While there are three more months left of the pilot program, both Lyft and Lime said their companies are talks with the city government
NEW YORK, NY / ACCESSWIRE / June 21, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.
Slack Technologies Inc (NYSE: WORK ) hit the ground running on Thursday following its highly anticipated IPO. Tech companies have had mixed returns when it comes to big-name IPOs in 2019. Here’s a look ...
(Bloomberg) -- Stewart Butterfield loved the game, but not enough people agreed with him. He spent two years and raised roughly $11 million to build an online adventure game called Glitch that featured garrulous, blue-headed creatures and milk-drunk butterflies.Once people had a chance to play it and Butterfield could track the numbers, the verdict was clear: Glitch was a flop. “There was this night where I just lost faith,” Butterfield said in a podcast interview. He decided in 2012 that it was game over. Butterfield made plans to shut down the company and give the remaining money back to his investors.Andrew Braccia, a partner at venture capital firm Accel, wouldn’t accept the refund. He and other investors urged Butterfield to keep the remaining $5 million and try something else. That turned into Slack Technologies Inc., the maker of corporate chat software that went public Thursday. At the close of trading, Slack’s market value was $19 billion.Accel invested about $200 million in Slack over seven years, largely driven by Braccia’s unwavering faith in Butterfield. As of the stock debut, Accel held 24% of the company, the biggest VC stake in a newly public unicorn in recent history. Those shares are worth $4.6 billion today.Owning such a large chunk of a company is unusual in venture investing for a couple reasons. If a startup appears to be succeeding, founders and other investors compete fiercely for shares. And when things are uncertain, overexposing a fund to one company can be a foolish gamble. “They don’t all look like winners right away,” said Trae Vassallo, managing director of early-stage venture firm Defy.The startup failure rate is 67%, according to research firm CB Insights. Just 1% of those achieve a unicorn valuation of at least $1 billion. “You have to have a clear conviction when making a concentrated bet,” said Byron Deeter, a partner at Bessemer Venture Partners. “If you’re right, you’ll be disproportionately rewarded. But if it goes bad, there’s a real risk.”Slack is what happens when a risky bet pays off. The value of Accel’s stake is greater than that of any private financier of Lyft Inc., Snap Inc., Spotify Technology SA or Twitter Inc., each of which went public at higher market values.In an interview Thursday, Butterfield said Accel was eager to buy into every funding round for Slack—of which there were many—and offered to invest more than expected almost every time. The company had raised more than $1.2 billion in private capital, according to CB Insights data. “Our whole board, the VC members of the board, have worked incredibly hard,” Butterfield said. “I feel incredibly well supported.”In the windup to Slack’s listing, Accel converted about a quarter of its Slack holdings to common stock, allowing it to sell that portion of its shares. Such a transaction could return more than $1 billion for the VC firm, earning back the total sum of several funds. And that doesn’t account for two other Accel companies that have gone public since April, Crowdstrike Holdings Inc. and Pagerduty Inc.In 2012, when Butterfield was convinced he’d failed, Braccia was steadfast, said Bradley Horowitz, who put some of his own money in the game company. That’s probably because Braccia recalled what happened the last time Butterfield made a bad game. It morphed into a popular photo-sharing site called Flickr, which Yahoo! bought for around $25 million in 2005. Braccia, Butterfield and Horowitz all worked together at Yahoo.Horowitz, now a vice president of product at Google, said Braccia “was the one who said ‘keep going.’ He had the determination.” Horowitz joined Braccia in refusing to take his money back when Butterfield was ready to give up. “Stewart could have told me he was building a new coat hanger,” Horowitz said. “I would be all in.”Braccia declined to be interviewed, citing the regulatory quiet period. Bloomberg Beta, the venture capital arm of Bloomberg LP, is also an investor in Slack.In 2015, just as Slack was beginning to gain traction, Braccia explained why he was making such a big bet on the company. Butterfield has an uncanny ability to recover from failure and then rally people around his next idea, Braccia told a crowd at the time: “He’s resilient. He’s been knocked down multiple times, and he’s picked himself back up.”\--With assistance from Ellen Huet.To contact the author of this story: Lizette Chapman in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Milian at email@example.com, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- A parade of initial public offerings from Silicon Valley this year has garnered a mixed reception from investors. Slack Technologies Inc. took a different route on Thursday, and saw its shares soar as it went public without an IPO.Slack opened at $38.50 on the New York Stock Exchange Thursday, well above the reference price of $26 that was set for the shares in the direct listing. The stock closed at $38.62, giving the company a market value of $19.5 billion.That’s a huge increase from Slack’s last private funding round in August, which valued the company at $7.1 billion. Thursday’s debut makes Slack the second-most valuable technology company to reach U.S. markets this year, topped only by Uber Technologies Inc. $75 billion value and bypassing Lyft Inc. at $18 billion.What a ‘Direct Listing’ Is, and Why Banks Are Nervous: QuickTakeSlack, which makes software for workers to chat and collaborate on projects, directly listed its shares on the New York Stock Exchange, bypassing the usual fundraising process of an IPO and allowing shareholders to sell right away without a lockup period.A parallel for this unusual type of stock listing is Spotify Technology SA. The music-streaming provider went public using a similar maneuver last year, the last high-profile company to do so. Spotify’s stock is up 13% from its reference price since then.Goldman Sachs Group Inc., Morgan Stanley and Allen & Co. advised Slack on the listing, the same trio of banks that lined up when Spotify went public.Slack Chief Executive Officer Stewart Butterfield said Thursday that the company chose not to have a traditional IPO for a pragmatic reason: It didn’t need the cash. “We’re not ideological crusaders on this stuff,” he said. The direct listing process is a more efficient way to price a stock, he said, “but I don’t think anything comes close to not having to dilute existing shareholders by 10%.”Butterfield said he also wanted to avoid the lockup period. “Especially in a period when you’re locked up, when the supply is so constrained, the psychological impact of that can be a big negative,” he said. “Giving employees the option early is more important.”Raised in a Log Cabin, Slack Chairman Is Now Worth $1.3 BillionButterfield was at the New York Stock Exchange, which was festooned with a Slack banner that read “Your work is our work,” and where a band outside played jazz for the occasion. Earlier that morning, he rang the opening bell, and posted photos on social media, writing, “Got a little cold, but everything is allll right.”This year is on track to be the busiest for public listings in more than a decade. Some have been warmly received. Pinterest Inc. has risen 45% since its March listing, and Zoom Video Communications Inc. has nearly tripled in value. But the two biggest, Uber and Lyft, are trading below their IPO prices.Investors -- and private companies considering a similar path to the public markets -- will have been closely watching the reception to the debut. Slack had been hoping to avoid the first-day pop that often accompanies IPOs and the price swings that can follow, and it largely got its wish: Shares closed less than 1% above their opening price, and traded within 10% of that benchmark all day.Citadel Securities and the banks worked behind the scenes to help kick things off Thursday morning, gathering buy and sell orders to assess a first-trade price.In Slack’s dual-class share structure, super-voting Class B shares must be converted to Class A common shares before they can be sold. The total trading volume on the first day was about 140 million shares, according to data compiled by Bloomberg. That was about 30 million more than expected, according to a person familiar with the banks’ expectations.On Wednesday, Slack said 194 million shares had been converted to common stock, which signals the number that could be sold.Slack going public ends a long journey that started with Tiny Speck, a small video game maker. The company, led by Butterfield, was making a game called Glitch, but it didn’t take off. The team, however, had built an internal tool to chat and share files with each other. They had an inkling that the software could be useful to other teams. In 2014, they launched Slack. Now Butterfield, its co-founder and chief executive officer, is worth more than $1 billion.One of Slack’s earliest believers was Accel, a venture firm that now owns about 24% of the company. Andrew Braccia, an Accel partner and Slack board member, had worked with Butterfield at Yahoo! Bloomberg Beta, the venture capital arm of Bloomberg LP, is also a Slack investor.The service has spread from Silicon Valley into offices around the world, and it does much more than chat. Users can share files, build automated workflows, host video calls, poll colleagues and keep a to-do list. Those who use it tend to adapt quickly, but it has struggled to convey exactly what it is to most of the world, Butterfield said in a recent conference call. “We have to work hard to explain Slack to all the people who have never used it before,” he said. Butterfield called it “one of our biggest challenges and greatest opportunities.”Slack faces competition from some of the world’s most valuable companies, including Microsoft Corp., Alphabet Inc. and Facebook Inc. Slack did prevail, however, over another rival: HipChat, a product from Atlassian Corp. Last year, Slack and Atlassian struck a deal in which Slack bought the assets for HipChat, which was eventually wound down, and Atlassian took a stake in Slack.Ten million people use Slack every day, according to the company. Many workers rely on a free version of the software, but as of April, 645 companies paid more than $100,000 a year for the service. Those big customers make up about 43% of Slack’s revenue, the company said. Like other big-name public debuts this year, Slack is not profitable. It lost $139 million on $401 million of revenue in the fiscal year that ended in January.In contrast to the flagrant cash burning of companies like Uber or Lyft, Slack’s losses have been fairly consistent. But its revenue growth rate has slowed from 110% two years ago to a projected 50% for the fiscal year ending next January.Butterfield said he thinks that the practice of direct listing has the potential to catch on more widely after this week. “I think if this works out in terms of volatility and volume, I would expect anyone who doesn’t really want to raise money will follow that path of just listing,” he said.(Updates shares in second paragraph. Adds bank advisers in sixth paragraph.)\--With assistance from Eric Newcomer and Sonali Basak.To contact the reporter on this story: Ellen Huet in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Mark Milian at email@example.com, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cisco Systems Inc. (CSCO), Palo Alto Networks Inc. (PANW), FireEye Inc. (FEYE), and Imperva Inc. (IMPV) have all made cybersecurity acquisitions in recent weeks as they scoop up smaller companies in the burgeoning enterprise software industry tied to cybersecurity. “There is a bit of a scramble to get premium assets,” said Sarah Guo, an investor at Greylock Partners.