The IPOX® Update 8/15/23

YouGov Eyes U.S. Stock Listing; Takes On Former Meta Executive as CEO

London-listed British pollster and analytics firm YouGov is reportedly considering a stock listing in the U.S., its largest market. With a significant client base comprising tech groups and offering extensive political coverage in the U.S., YouGov seeks to tap into the potential of higher valuations and the larger capital pools available. This strategic move comes on the heels of its acquisition of German market research firm GfK's consumer panel for a sum of €315 million. Recently, YouGov has advanced its analytics capabilities by integrating artificial intelligence for insights, even though it doesn't have official partnerships with any major platforms. Notably, the company is broadening its leadership horizon by appointing former Meta executive Steve Hatch as its CEO. (Source)

Rokt Targets 2024 Nasdaq Listing Amidst Legal Controversies

Australian Marketing software firm Rokt is targeting a Nasdaq listing in 2024, with a valuation pegged at US$2.4 billion. The company made headlines by reporting a revenue of $US218.4 million in 2023, marking a turn from a loss to a US$8.45 million profit. As part of its growth strategy, Rokt has integrated former employees from tech giants like Amazon and Microsoft and has inaugurated a new office in Seattle. However, the company's "work hard, play hard" culture has come under scrutiny with allegations of drug use and harassment, with its CEO vehemently denying the claims. Currently, Rokt's CEO and his spouse are entangled in a discrimination lawsuit which is in arbitration. (Source)

CVC Capital Partners Eyes Amsterdam Stock Market Listing

Leading private equity firm CVC Capital Partners is contemplating an Amsterdam stock market listing, with the potential for a multibillion-euro IPO that could materialize by the end of 2023. This development comes after the firm had to momentarily pause its 2022 IPO ambitions due to the Russia-Ukraine conflict. Originally, CVC's objective in 2022 was to list a 10% stake on the Amsterdam bourse. The IPO proceeds are earmarked to bolster the acquisition of asset management groups, signaling the firm's intent to expand and diversify its portfolio. (Source)

VinFast Lists on Nasdaq After Merger with Black Spade Acquisition

Vietnamese EV maker VinFast, a subdivision of conglomerate Vingroup, is debuting on Nasdaq today, following its merger with Black Spade Acquisition. The merger pegs the valuation of VinFast at $23 billion, subsequently leading to Black Spade's delisting from NYSE. Founded in 2017, VinFast has entered the U.S. market with aspirations to rival leading brands like Tesla and BYD by offering products marked by quality and competitive pricing. However, its VF8 SUV, has faced its share of critiques, mainly negative, with mentions of software issues and subpar body control. In terms of pricing, the 5-seater VF 8 is tagged at $46,000, competing with Tesla's Model Y priced at $47,740. (Source)