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HashiCorp – S1

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Re: HashiCorp – S1

#171

Earlier quoted context omitted.

Newb investor here, but huge hashi user. Do you have any insight as to when stocks become available after an IPO?

You can buy the stock on the first day of trading. If you want to try and get an allocation of shares at IPO price, various brokerages have different processes where you apply. I use E*Trade mostly, but Robinhood does have the best IPO center of any brokerage I have seen.

Based on what I have seen, Robinhood either doesnt give/doesnt have access to every IPO? Am I wrong?

Re: HashiCorp – S1

#172
post #45

Would be great if someone with knowledge on how to read an S1 could help me figure out these two basic questions: What percentage of the company gets sold in the IPO? And does that money go into the company or does it go to existing shareholders?

> What percentage of the company gets sold in the IPO? S1 does not specify the amount. > And does that money go into the company or does it go to existing shareholders? The money goes to the company.

... after commissions are paid to the investment bankers involved in the offering.

Re: HashiCorp – S1

#173

Earlier quoted context omitted.

An additional data point (read: anecdote): I applied for a job at Hashicorp in early July of this year. I have yet to receive any reply, including a "thanks but no thanks" For reference, I also have a friend who applied there in late 2019; he apparently _did_ get a "thanks but no thanks" email about a month later. Perhaps all of the company is short-staffed, rather than just engineering.

I've applied to plenty of much larger and established companies without getting a thanks but no thanks. Twitter has the audacity to email a year after my application to let me know that I was "still under consideration." Google ended my hiring loop by having my emails to my recruiter bounce. So this is not just a shaky company problem.

My Twitter experience:

Applied, rejected within a day, got an email from a hiring manager four weeks later asking me to re-apply, very sorry etc etc, bad screener he had to look over everything again.

I re-apply, two interviews, asked to do a presentation and then a video on strategic threats to the org, spent two days of my holiday doing it (tight schedule from Twitter), sent, no reply for two weeks, get an email back saying they wanted it to be more tactical.

I pointed out what they said (it needs to be strategic), they come back two weeks later, very sorry etc, they would love to move me to next stage, one week later hiring manager doesn't turn up for interview, two days later apologises, asks me to meet with his senior manager in two weeks. I agree.

Recruiter then turns around and says, sorry not what they are looking for. No other explanation. Next day emails me asking would I apply for another position. I say, "Hmmm not so sure. Perhaps. What's the comp?" He says "Great, I think you will fit well. I will go check it." Then ghosted...

Was a cool role. But still. I'm in a position were I am also interviewing the people on the other side of the table. I'd love to have helped build something they needed about that fusion and analysis.

But sorry, in that context, just not good enough. That's my first dealing with your company. Why should I trust anything else will be better?

Re: HashiCorp – S1

#174

Congratulations! The IPO is a confirmation of what many of us in this field already knew: Hashicorp makes amazing tools. I love Consul so much. I'm glad the larger world will appreciate the great work Hashicorp has done as well.

quick anecdote of your success w/consul?

Re: HashiCorp – S1

#175
post #96
post #42

Holly mother of God. Mitchell was still on HN yesterday, as he was replying something about Backblaze IPO and its business. Today it is his IPO, $259 million revenue. 2100+ Customers, 1500+ employees, $10 Billion Valuation......... I mean I felt it wasn't that long ago Vagrant was "the" tool for the job. How it all started, the submission on HN [1], quote: > This project has been the love child of myself and John Ben…

> 1500+ employees According to LinkedIn the average tenure of employees is a little over a year (likely to hit the vesting cliff and bounce). Two months ago they didn't have the staff to review pull requests: https://news.ycombinator.com/item?id=28425849 You can love the product, but investors are ultimately betting on the company - which seems shaky.

it is common for pre-ipo companies to reduce expenses they can avoid, temporarily, without hitting revenue, so numbers look better

Re: HashiCorp – S1

#176

It's fascinating to see so many IPOs happen in the past two years. Apparently there have been more IPOs in the past two years than 2014-2019 combined ( https://stockanalysis.com/ipos/statistics/ ) in spite of the pandemic. I guess it's because there's just so much money swishing around - why not?

Successful companies seem to be more likely to be started during lean times, and startups take 10+ years to mature. We were in the recession aftermath ten years ago.

Re: HashiCorp – S1

#177

Earlier quoted context omitted.

If that’s $260M pa for 1500 employees then that works out as $40k revenue per employee per quarter. Compare with APPL and FB doing [correction: over $600k] per employee per quarter. Not a value judgment. But I only recently started noticing these numbers and it really puts the big players’ spending power into perspective. Hiring engineers away from FAANG is incredibly expensive. Edit: thanks for the corrections in th…

Does this account for how much those companies offload to contractors / staffing agencies?

The economy of scale - at FAANG(MAANG?) scale you can have extremely efficient money making features that only takes a few engineer to support thousands.

For things that are completely software, it does not surprise me that millions per employee in earnings is realized - that's just what happens when you operate at that scale. And that's accounting for all of the overhead in personnel that scale entails.

Re: HashiCorp – S1

#178

Earlier quoted context omitted.

Jap, I bet it’s related to this chart https://fred.stlouisfed.org/series/M1NS

You might want to read that footnote about the definition of M1 changing at May 2020

Just odd. Why would you change a definition in the middle of an existing chart... Just call it M1a or M11 and add a new chart.

Curious what is really going on that I'm not supposed to understand.

Re: HashiCorp – S1

#179
post #74

There have been hundreds of crazy tech success stories in the last few years, but as someone who considers himself an engineer at heart, this one gives me the greatest amount of joy and optimism. Both founders are industry-wide leaders in their field and still treat writing code and solving complex technical problems as their primary job.

Agree! Here's a recent video of Mitchell at Dev Tool Time proving your statement: https://srcgr.ph/mitchell-hashimoto

Wow, that's a pretty similar setup I'm looking at making in the next couple months. Thanks for the link.

Re: HashiCorp – S1

#180

Absolute legend, rocket ship human Mitchell Hashimoto. I still remember the excitement from Vagrant back in the day (which I think started it all). Here's the 1.0 announcement in 2012. [1] The tools and vision they created after, just amazing coming from a small scrappy startup crew. Which, IMO, is totally wild given the offerings clearly tend to target bigger Enterprise who have bigger teams/apps/ops demand. Then to…

He shared his dev setup at Dev Tool Time ( https://srcgr.ph/mitchell-hashimoto ) which shows how passionate he is about engineering. Going from CEO -> CTO -> IC solidifies his genuineness.

TBH what I got out of this is that he’s got a simple solid setup that works for him. He clearly doesn’t burn time changing his setup often and that makes sense.
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