Didi targeted $67 billion IPO, Conan’s farewell show, Panasonic sells Tesla stake
Julie Hyman breaks down Thursday’s business headlines, including: Didi Global Inc, a Beijing based ride-hailing company seeking a valuation of $62-$67 billion in an IPO, Panasonic selling its stake in Tesla for $3.6 billion, and Conan O’Brien ending his TBS late-night show ahead of his transition to HBO Max.
Video Transcript
JULIE HYMAN: Let's get a check on some other headlines we're watching at this hour. Chinese ride hailing giant DiDi targeting a $62 to $67 billion valuation for its initial public offering. The company plans to sell 288 million American depository shares at a range of $13 to $14 each. It would raise $3.9 million at those levels. Uber, which does not operate in China, owns a stake in DiDi, as do SoftBank and Tencent.
Panasonic is taking profits on its early investment in Tesla, taking profits and then some. The Japanese conglomerate bought 1.4 million Tesla shares in 2010 for $21.15 each. That's about $30 million in total cost. It sold them for about $3.61 billion. Panasonic is going to continue to provide batteries to Tesla.
And Conan O'Brien last night wrapped up nearly 11 years of hosting his TBS show. It's his third late night hosting gig over a 28-year span, second only to Carson with 30 years. He's working on a weekly variety series now for HBO Max set to air in 2022. O'Brien has also kept busy with his podcast, "Conan O'Brien Needs a Friend." And Brian Sozzi, this is kind of reflective of the continuing streaming wars, right, the moving from TBS to HBO Max. And we'll see what that does for them.
BRIAN SOZZI: Julie, I'm still thinking about Panasonic. We need to have their head trader on. That's a hell of a trade there for the folks at Panasonic on Tesla. But no, ultimately, Conan O'Brien is going to be on HBO Max. Who will that eventually benefit? The new owner, Discovery, if the deal gets closed with AT&T.
JULIE HYMAN: Right, exactly. Well, we'll keep watching it.
