The excitement around Robinhood's IPO and its clever pricing strategy steals the spotlight. Major tech players like Alphabet and Microsoft reveal impressive earnings, particularly in cloud services. Tesla's bold move towards iron-based batteries suggests innovation in the EV sector. The rise of fintech in barbershop technology showcases rapid growth potential. Additionally, advancements in hormonal health and support for music startups hint at a wave of innovation reshaping industries.
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Robinhood's IPO
Robinhood priced its IPO at $38 per share, the low end of its range, and had a weak first trading day.
This was a surprise to some who expected a bigger pop, especially given the hype around the company.
insights INSIGHT
Robinhood's User-IPO Strategy
Selling IPO shares to Robinhood users might have reduced retail demand and the first-day pop.
However, it increases user investment and platform loyalty, setting them apart from competitors.
insights INSIGHT
Alphabet's Q2 Performance
Alphabet (Google) had huge revenue growth (62%) due to a rebound in the ad market.
YouTube's revenue grew 84% to $7B, while Google Cloud revenue increased 54% with decreased losses.
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Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
We were a smaller team this week, with Natasha and Alex together with Grace and Chris to sort through a week that brought together both this quarter's earnings cycle, and the Q3 IPO rush. So, it was just a little busy!
Before we get to topics, however, a note that we are having a lot of fun recording these live on Twitter Spaces. We've found a hacky way to capture local audio and also share the chats live. So, hit us up on Twitter so you can hang out with us. It's fun - and we may even bring you up on stage to play guest host.
Ok, now, to the Great List of Subjects:
Robinhood went public! Yep, at long last, it is done. The company priced at $38 per share, the low end of its range, and had a medium-weak day of trading once it started to float. In short, Robinhood seems to have deftly priced its IPO, leaving zero fat on the table. So, it is now richer than ever, and public. More here.
Earnings! We took a moment to chat about earnings reports from Alphabet, and Microsoft, and Shopify. Why? Because we care lots about the cloud and platform companies. So, we took a minute to chat about public cloud results, and what Shopify got up to.
Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.
Equity