Zoom and CrowdStrike have shown that leaving a little money on the table before going public isn’t a bad idea
By Dan Gallagher Sept. 7, 2019 9:00 am ET Uber , UBER -2.00% Lyft and WeWork are stellar examples of what can happen when investors cram too much cash into a company ahead of an initial public offering. Zoom Video and CrowdStrike are proving to be the opposite.
Uber and Lyft, meanwhile, are down 29% and 38% from their respective listing prices. The two ride-hailing companies have been among the largest of the so-called Unicorn pack to go public this year. Both raised truckloads of capital to finance ambitious expansion plans, but those fundraisings and the inevitable valuation hikes that went with them left little upside for public investors. Uber was privately valued around $76 billion ahead of its IPO in May, while Lyft was valued around $15 billion.
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