LOL, this has all the makings of a disaster. It appears the poor guy just wanted a way to send dick pics to women without them being able to keep a copy of it. Next thing you know, he’s raising tons of money and the company is worth billions.
Someone (investors or underwriters) is loosing money,billions, that reflects negative in APRN and YOGA… Investors do not believe in IPOs
YOGA is an example.
YOGA bringing down IPO price from 12-14 to 5:50 to 6:50 is a big blow for that company and Underwriters, it will reflect on future IPO companies, VC funding etc.
That’s why I wonder when it will hurt the ability of pre-IPO companies to hire. There has to be recent hires that are under water on their options. Hopefully, they were lucky and the company switch to RSU, but it still makes you wonder about alleged pre-IPO comp. A big portion is the stock and if the stock ends up worth half as much by the time you can sell, then the comp isn’t nearly as good as people thought.