Equity Equity Monday: Deliveroo, ServiceTitan, and Robinhood for everywhere
Mar 29, 2021
The podcast kicks off with a deep dive into ServiceTitan's impressive $500 million funding round, showcasing its impact on the field services sector. It discusses the challenges Deliveroo faces with its IPO, especially concerning worker governance and market conditions. The hosts also explore the rocky IPO journeys of Bilibili and Zhihu, reflecting on diminishing public market interest in tech stocks. Meanwhile, the vibrant private market shines with recent funding rounds, highlighting new opportunities for early-stage startups.
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Vertical SaaS Success
- ServiceTitan, a software company for field services, achieved $250 million in ARR.
- This impressive feat demonstrates the potential of vertical SaaS in niche markets.
IPO Market Volatility
- Deliveroo's IPO faced challenges due to market conditions, governance concerns, and worker rights issues leading to a reduced valuation.
- Bilibili and Zhihu, both Chinese companies, also experienced setbacks in their public offerings.
Ajaib's Funding and Market Opportunity
- Indonesian investing app Ajaib raised $90 million in a Series A extension led by Ribbit Capital.
- This marks Ribbit Capital's first investment in Southeast Asia, a region with low stock ownership.