Axios Pro Rata: Lyftapalooza — Dressbarn sale — Global M&A declines
Presented by Sentient Jet: View in browser Presented By Sentient Jet Pro Rata By Dan Primack · Mar 29, 2019 Top of the Morning Source: Giphy Lyft last night raised around $2.34 billion in its IPO, selling more shares than expected and pricing at the top of its upwardly-revised range, sparking all sorts of concerns that we're at a market peak. It's entirely possible that we're at or near the top , and that it's all downhill from here. But we don't actually know, and certainly shouldn't extrapolate from the rush of unicorn tech companies going public. The best of the past six years for VC-backed IPOs was 2012, in terms of offering proceeds, and that clearly wasn't a top. If venture capitalists and crossover investors know this is a top, why are they still investing tons of cash into high-priced, growth-stage private c...