This was a busy morning, with lots to talk about it. Here’s what we got into:
- Headlines this morning that caught our eye included falling global stock markets in the wake of rising COVID-19 cases; SAP torched tens of billions of market cap by missing earnings expectations and cutting its forecast; and Ant Group will raise a bajillion dollars in its impending IPO.
- In unicorn news, Databricks is prepping an IPO that we already know a lot about. And Airbnb’s shares are splitting ahead of its own IPO, a deal that we are expecting any day now.
- The PrimaryBid round was super cool, with TechCrunch covering the $50 million deal. I spoke with the company’s CEO last week about the deal, sharing some of those notes on the show. And VSPN raised nearly $100 million in an esports round that was more than cool.
- On the SAP front, here’s the question: Is the earnings miss and forecast miss a one-off, or something that a number of tech companies are going to suffer from? If the former, it’s not that big of a deal. If the latter, SAP could be the harbinger of a reset in tech valuations.
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