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- CART.
- Listing at 30 (top of range, lots of demand), making the target IPO valuation 10B. Its peak valuation was 40B during pandemic. Maplebear Inc is the parent.
- ~3.5hrs after market opened, secondaries began. It was at $42 (+40%).
- At market close, down to 33.
- Buy IPO, sell open.
- Notice and forge didn’t have useful information, as a datapoint.
- TD.
- Account value >250k to participate in an IPO.
- IPOs are nonmarginable (first 30 days).
- Trade -> Equity IPOs.
- You’ll have to submit eligibility disclosures and conditional offers to buy, each time.
- And remember, you’re buying preallocated (to that brokerage) shares in the primary market, it’s not a direct public listing in the secondary market (eg the regular buy/sell interface lists CART as invalid).
- IPO orders must be limit, not market.
- The secondary listing usually begins a few hours after IPO / market open? And only shares, not options (those start anywhere from 3-60 days after). The ticker is searchable on quote lookup, but it’s not marked as valid. Once secondaries start, then you can trade normally.
- Stripe.
- 28.42/share. 5% fee on equityzen (so basically 29.84/share).
- 10k = 352 shares.
- Implied val 67.3B. History: seed 2011, unicorn 2014, 36B in 2020, 94B in 2021.
- Should close in <2mo.
- You have to indicate level of commitment ($), provide some basic info (already associated with your profile), sign term sheet, suitability questionnaire, investment distributions / limits / risks, subscription agreement, W9.
- Then you connect your bank account (via stripe, ironically) – you don’t pay now, they’ll notify prior to closure so you can fund this connection.
- Underneath the hood, they put the investment in an equityzen fund whose sole strat is stripe.
- Overall the process wasn’t too bad. But could be made much simpler for the layperson.
- Private work.
- UES standard bloodwork. Insurance doesn’t cover results review over video call? Must be in person.
- Qualified purchaser >5M.
- Mealprep. Oat milk, liver, smoothies, full dinners. Smoothies with 2 novelties:
- Black pepper for turmeric.
- Beeswax with the honey.
- You can now directly open google password manager in chrome’s menu (rather than settings -> autofill -> GPM, 3 clicks).
