Wanna know how Airbnb did with their debut on the market? Yesterday, the company officially IPO-ed after pricing above its latest range and opening at $146 per share. That’s a 115% uptick for the company. Even though their worth is getting close to $100 billion, it’s on a diluted basis because that valuation includes their shares that could be awarded in the future.
If you’re shocked, don’t be because C3.ai and DoorDash had similar, successful debuts this week. On the other hand, just beware of what this could mean for the company in the next few weeks and beginning of 2021. We’ve seen plenty of IPOs this year that were all sparkles, rainbows and fireworks when initial trading began, but then saw that enthusiasm with investors die off quickly.
Remember what happened with Snowflake? They had a major debut and gained 100% in their first day, but maybe that’s because they were underpriced.
What do you think will happen with Airbnb’s stock price before the year is over? Hit reply and give us your opinion!
You Get a House, You Get a House, Everyone Gets a House
Oh, Oprah. If only you were handing out houses to everyone now. Since you’re not, Divvy Homes is taking care of business and helping lower and middle income Americans purchase homes. No… this isn’t a repeat set up for another housing crisis, but a reliable rent-to-own company that makes homeownership accessible.
Even though there are plenty of opportunities to rent, when someone’s able to build equity in their home, they can often refinance and send their kids to college, for example. It really changes the game and an entire life trajectory for a family, but it’s still hard for low to middle-income families to purchase homes. Why? Well, the median household income has increased by 14% over the last 20 years, but the median home price is up by almost 100%. Proof is in the pudding.
Adena Hefets cofounded Divvy after being in the VC world and being frustrated at the lack of innovation in this area, even after a housing-led recession. She met Brian Ma, who was building a real estate technology company, and then they brought in Nick Clark as their CTO and third cofounder.
The company lets someone pick out a home quickly they’d probably want to own, buys the house for them, puts them down as a renter, but lets them build equity in the meantime. So if they did want to move forward with home ownership, they could buy out Divvy’s portion or get a mortgage. If they want to go in the other direction they can receive their equity back in cash… simple as that. Even paying rent on time builds equity for them.
Divvy’s focused in markets like Cleveland, Cincinnati, Memphis and Atlanta right now. And, if someone has a late payment or falls behind, the company tries to be understanding and come up with a flexible, win-win solution instead of hitting them with the hammer ASAP.
Oh, Oprah. If only you were handing out houses to everyone now. Since you’re not, Divvy Homes is taking care of business and helping lower and middle income Americans purchase homes. No… this isn’t a repeat set up for another housing crisis, but a reliable rent-to-own company that makes homeownership accessible.
Even though there are plenty of opportunities to rent, when someone’s able to build equity in their home, they can often refinance and send their kids to college, for example. It really changes the game and an entire life trajectory for a family, but it’s still hard for low to middle-income families to purchase homes. Why? Well, the median household income has increased by 14% over the last 20 years, but the median home price is up by almost 100%. Proof is in the pudding.
Adena Hefets cofounded Divvy after being in the VC world and being frustrated at the lack of innovation in this area, even after a housing-led recession. She met Brian Ma, who was building a real estate technology company, and then they brought in Nick Clark as their CTO and third cofounder.
The company lets someone pick out a home quickly they’d probably want to own, buys the house for them, puts them down as a renter, but lets them build equity in the meantime. So if they did want to move forward with home ownership, they could buy out Divvy’s portion or get a mortgage. If they want to go in the other direction they can receive their equity back in cash… simple as that. Even paying rent on time builds equity for them.
Divvy’s focused in markets like Cleveland, Cincinnati, Memphis and Atlanta right now. And, if someone has a late payment or falls behind, the company tries to be understanding and come up with a flexible, win-win solution instead of hitting them with the hammer ASAP.
Manuel’s Tavern is an institutional landmark and icon in Atlanta’s political scene and is a fan favorite of President Jimmy Carter’s. The tavern isn’t anything special — it’s pretty unassuming — but it’s been THE hub for the Democratic party in Atlanta. A good ole blue collar kinda bar is Manuel’s, but they make most of their money from political parties, fundraising events, Election day…
This year would’ve been a banner year for Manuel’s as an election year is something they rely on. Unfortunately, around this year’s election the tavern was just a few weeks from closing their doors. Their sales dropped 62% during the pandemic, and even with PPP money in hand, Manuel’s consistently lost $25,000 month after month. Emergency funds were used up and the owner used his own savings, cut 15 staff members and quit taking paychecks for him and his family.
But the city loves this family-owned tavern that’s been around for over 70 years and wasn’t going to let this happen. Brian Maloof, Manuel’s owner, got over his pride, told the family the business was going under (start preparing), and called a friend who was a long-time patron and practically family to let him know the news ahead of time.
Angelo Fuster, that same family friend, set up a GoFundMe page for the amount Manuel’s needed to stay open until at least 2021, which was $75,000. Overnight the GoFundMe raised $12,000 right off the bat and has now raised over $170,000. Everyone was shocked, especially Brian, but it was a testament to how much of a cultural and societal staple Manuel’s Tavern truly is to Atlanta.
What small businesses that are staples to your city have been saved? Hit reply and share with us!
