...is there a reason a ton of tech startups are dropping their IPOs today?
The market is the highest it’s ever been. A lot of unicorns have waited for years to IPO and it there’s never been a better time to do it.
Asana S-1
11–20 of 251 posts
Re: Asana S-1
#12Earlier quoted context omitted.
last chance to exit scam before the bubble pops
I totally get the feeling behind this, but you can't blame market participants for taking actions that are rational, regardless if the overall market fundamentals are/seem to be irrational. If the market is desperate for returns, and tech equities are one of the few remaining avenues for such returns, and you are the owner of those equities, what else would you expect to occur? "No no no, don't buy these valuable sha…
Most undesirable actions by the powerful have a rational character. It's bizzare to me that this is so commonly used as a defense. It says to me that the problems are seen to be individuals, not systems of power.
Note: I'm not commenting on the specific case here, just this argument in general.
Re: Asana S-1
#13I'm not a fan of the product but at least this isn't a company built on labor exploitation or fucking up some existing ecosystem.
Re: Asana S-1
#145 IPOs (S-1 filings) from Silicon Valley today:
- Unity (San Francisco) - Jfrog (Sunnyvale) - Snowflake (San Mateo) - SumoLogic (Redwood City) - Asana (San Francisco)
Re: Asana S-1
#15I'm not a fan of the product but at least this isn't a company built on labor exploitation or fucking up some existing ecosystem.
Guessing you don't use said labor exploiting services?
Re: Asana S-1
#16Wow, this is a torrent of IPOs today. Investors / boards are wanting to get money out before things turn south I feel.
Aside from that, I'm surprised how much it costs Asana on engineering R&D, for essentially a ticket management system. How does a team grow to ~300+ developers ($89M R&D) to figure out how to attach PDFs and videos to tickets, and email people when there's a change in status? (ok yes I'm oversimplifying a bit, but not that much)
And (as with all such companies) how much they need to pour into Marketing/Sales to sell this thing. These above costs basically wipe out the gross profits by 2x.
Re: Asana S-1
#17Re: Asana S-1
#18I've found Asana to be a much, much nicer product to work with than Jira (at least as a developer, not sure about from the management side.) I genuinely wish them success and hope they're able to grow their marketshare.
Re: Asana S-1
#19Am I reading this correctly in that they had a net loss in 2019 of $50.1 (42.4 adjusted) million dollars, and then in 2020 a net loss of $118.6 (68.2 adjusted) million dollars? (bottom of page 58)
And that their plan is to just continue trying to upsell and acquire new customers?
Hmmmm
Re: Asana S-1
#20...is there a reason a ton of tech startups are dropping their IPOs today?
With the sole exception of Aug 1999 - Feb 2000, public technology companies have never before commanded such high earnings multiples as we have now.
It would be a dereliction of fiduciary duty for executives and boards NOT to fleece the public for cash right now.