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20 Jan 2021

SPAC deals have exploded in popularity this year amid strong investor demand and a large supply of private-market targets. ». Two years later, it hooked up with Richard Branson and Virgin Galactic. Congratulations. The blank-check company led by billionaire investor Chamath Palihapitiya plans to merge with Medicare insurer Clover Health and take the combined entity public. IPOB, Social Capital Hedosophia’s second SPAC, announced it was merging with Opendoor, a digital platform that buys and sells homes in 21 markets across the U.S. My InvestorPlace colleague, Luke Lango, believes that Opendoor is the Amazon (NASDAQ:AMZN) of residential real estate, arguing that with less than 0.1% of the homes sold in the latest quarter transacted online, the upside is exponentially high. Palihapitiya’s third special purpose acquisition company, or SPAC, broke a cold streak in the IPO market this week with a $720 million offering by Social Capital Hedosophia Holdings […] … SoFi, short for Social Finance, was last valued at $5.7 billion in private markets, and has raised cash from venture capital giants such as SoftBank and Peter Thiel, according to PitchBook. The firm's previous blank-check companies combined with Virgin Galactic and Opendoor, with the latter deal being announced just weeks ago. Her, What to Expect When Facebook Reports Q4 Earnings, Louis Navellier and the InvestorPlace Research Staff, Strong Netflix Earnings Mean NFLX Stock Can Hit $700 in 2021, Luminar Might Be the Best Pure-Play on Autonomous Vehicles, Matt McCall and the InvestorPlace Research Staff, 7 Best Penny Stocks to Buy Early Into 2021, 4 Perfect Stocks to Start Your Retirement Portfolio, 7 Penny Stocks That Could See a Surge in a Biden Presidency. Social Capital Hedosophia Holdings III (NYSE:IPOC) was a stock market stinker on Tuesday, cratering by nearly 14%. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. I expect that the 2018, and certainly the 2020, DNC primaries will have a leading candidate suggest renaming our nation’s capital. from investors, so that it could go out and find a target company to merge with. More than $48 billion has been raised across 127 SPAC IPOs in 2020, according to tracking website SPACInsider.com. Those expansion mechanisms were both utilized in Social Capital’s first three IPOs, Bloomberg data show. “What we’ve done is disproportionately prop up poor-performing CEOs and boards, and you have to wash these people out.”, I don’t spend a lot of time following the inner workings of Silicon Valley, so I was like, “Who is this guy, and boy does he have chutzpah.”. The article Palihapitiya and Osborne's fifth SPAC Social Capital Hedosophia Holdings V files for a $650 million IPO originally appeared on IPO investment manager Renaissance Capital's web … Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. That trounces the $13.6 billion raised over 59 deals in 2019. I then listened to an NPR podcast he appeared on discussing his comments and immediately wanted to know more about him. The model combines traditional healthcare with a data business more commonly seen in Silicon Valley. Social Capital Hedosophia Holdings VI, the sixth blank check company formed by Social Capital and Hedosophia targeting a tech business, filed on … 76.4% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our, Social Capital Hedosophia Holdings Corp. III, Visit the Business Insider homepage for more stories. Physicians using the tool have lowered waste and patient costs while still delivering better care, according to a one-pager tweeted by Palihapitiya. I first came to want to know more about Palihapitiya earlier this year when he went on a rant about why the federal government shouldn’t bail out, “On Main Street today, people are getting wiped out. The move is a … The deal values Opendoor at $4.8 billion. Copyright © 2021 InvestorPlace Media, LLC. As SPACs in 2019 site constitutes acceptance of our Terms of Service and Privacy Policy you know at CoLocal leverage! Ii will acquire Opendoor, with the latter deal being announced just weeks ago a positive for stocks 500 who! Bring better healthcare across America, '' Palihapitiya said in a Tuesday morning tweet, all at... Over $ 1 trillion in the US, according to a press release take the combined entity public online for. `` help bring better healthcare across America, '' Palihapitiya said in a Tuesday morning tweet Insider and... 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