What’s the word on Thumbtack going public in 2021? It seems like they’re gearing up. Any specific plans or details? #thumbtack #ipo
We're planning to be "IPO Ready" by EO H1. Not sure when we'll actually decide to IPO. We do have a decent amount of cash in the bank. So... 🤷♂️
Is your manager “in the know”, or is it conjecture?
Any updates on IPO?
Curious too
14 years and series F funding are not positive indicators. Had a recruiter reach out and started looking into so now I wonder wtf the problem is. They have to be missing objectives.
Kinda curious as well
I am wondering if anyone has an update on this
Same here. Even if it's going to be a "down IPO" seems like it should happen soon. Especially with the IPO markets starting to open back up and them having been IPO ready for almost 2 years.
This thread started in 2021 and someone said they were ready to IPO, then in 2022 they said they would IPO soon, now it’s 2023 and more than halfway to 2024. Any update??? There is a time limit to VC funds — they need to give liquidity to their investors. If a pension retirement fund invested money in a VC firm 10 years ago, the retiring teachers and nurses don’t want IOUs from a company that says they could go public any time, the people who entrusted their life savings want something liquid to pay for their food and rent in retirement.
Bump the thread, I am curious if there is any update or new developments on this
In 2021, ANGI (Angie’s List and HomeAdvisor, combined) had a market cap of over $8B, and around that time, Thumbtack raised another $275M at a $3.2B valuation. So at that moment, Thumbtack was valued as 40% of ANGI. Assuming Thumbtack would still be worth about 40% of ANGI (I would think less because ANGI has a strong brand), ANGI now has a market cap of $1B. If Thumbtack were worth 40% of that, that’d be $400M for a company that last raised funds with a $3.2B valuation and has raised over $700M, so even if everything went to their investors, they’d lose about half of their investment, which would be a bitter pill to swallow. And that is probably what is holding things up. And with interest rates so high, home purchases are a fraction of what they usually are, so pre and post purchase renovations are a fraction of what they normally are, and no one is going to be taking out loans for home renovations at these rates, and amazingly, Thumbtack never came out with an AI story even though you would think that would have been the world’s most obvious step. My prediction is that they have been shopping this thing for scraps — dimes on the dollar for the IP, employees, brand, and customer list, and no one is buying. No one wants it. If they can become sustainably profitable — which I doubt at these interest rates — they could survive. But if they cannot become profitable, and they see no path to profitability, the ethical thing is to call it and return whatever money is left to investors. That is people’s retirement funds.
Thanks for taking time to reply, that's quite a permissitic outlook 😞 ANGI's valuation is really low right now, is it due to negative growth? How is thumbtack doing now, is the revenge growing at healthy rate?
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