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A Look At VC-Backed Public Companies Amid Market Roller Coaster Ride

The market has been rattled by the global coronavirus pandemic, most notably with the Dow Jones Industrial Average having the largest single-day decline since 1987.
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Stocks are down, we haven’t seen S-1 filings from startups we anticipated would go public this year and some newly …

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Evergreen Funds Equipped To Weather Market Cycles





In today’s market, there are many types of investment vehicles. Some examples include traditional venture capital firms, private equity firms and corporate venture funds. We’re also seeing more firms that provide loans or debt–some for equity and some instead of taking equity.
We could go on.
And …

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First thoughts on One Medical’s IPO pricing

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.

Today we’re digging into One Medical’s IPO pricing, especially as it relates to the company’s valuation and resulting revenue multiples. Our goal this morning is to understand how the IPO process priced One Medical last night, and what its resulting value could mean for other tech-enabled companies.

One Medical, a popular and modern medical provider, is a venture-backed company now worth $14 per share, or about $1.7 billion. Is that a lot? Or do those metrics fit well next to its fundamentals? Let’s find out.

Pricing

Source: TechCrunch

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One Medical targets IPO valuation of up to $2B as we unpack its Q4 results

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.

Today we’re digging into One Medical’s updated IPO filing released this week. The document contains directional pricing information that will help us understand where the tech-enabled medical care startup expects the market to value itself and also details its Q4 2019 Preliminary Estimated Unaudited Financial Results, which gives us a fuller picture of its financial health.

As we’ll see, One Medical’s expected valuation matches secondary-market transactions in the firm’s equity, and, at the upper-end of its proposed IPO range, represents a solid boost to its final private valuation. Afterwards, we’ll dig back through the company’s numbers, figure out its implied revenue multiple and make a bullish and bearish argument for the company’s hoped-for IPO valuation.

It’s going to be fun! (For a general dive into the company’s IPO filing, head here.)

Source:

Fundings & Exits – TechCrunch

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Alphabet-backed primary care startup One Medical files to go public

One Medical, a San Francisco-based primary care startup with tech-infused, concierge services filed for an IPO with the Securities and Exchange Commission today.

Internal medicine doctor Tom Lee founded the startup, now valued at well-over $1 billion dollars, in 2007. Lee exited his company in 2017, leaving it in the hands of former UnitedHealth group executive Amir Rubin.

The startup currently operates 72 health clinics in nine major cities throughout the U.S., with three more markets expected to open in 2020 and has raised just over $500 in venture capital from it’s biggest investor, the Carlyle Group (which owns just over a quarter of shares), Alphabet’s GV, J.P. Morgan and others. Google also incorporates One Medical into its campuses and accounts for about 10% of the company revenue, according to the SEC filing. The filing also mentions the company, which is officially incorporated as 1Life Healthcare Inc. ONEM, now plans to raise about $100 million.

Presumably, this money will help the company improve upon its technology and expand to more markets. We’ve reached out to One Medical for more and so far have only been referred to its wire statement.

According to that statement, One Medical has applied for a listing as ticker symbol, ONEM under its common stock on the Nasdaq Global Select Market. We’ll be sure to update you if and when we hear more.

Source: TechCrunch