Good morning, Time period Sheet readers. I’m glad to be again from Thanksgiving break, once I lastly gave up attempting to love turkey and opted for lasagna.
Very similar to lasagna (forgive the pun), the information layered on over the lengthy U.S. vacation as buyers continued to reap the benefits of these unusual market circumstances to IPO or merge with different companies.
Listed here are 5 issues you have to know to jumpstart your week:
(FINANCIAL) DATA IS EVERYTHING: In a mega Monday merger, S&P Global agreed to amass market knowledge supplier IHS Markit for an eye-popping $44 billion, together with $4.8 billion in debt. The transaction will likely be accomplished completely in S&P International inventory. In the meantime, the London Inventory Change is in search of clearance for its plans to amass knowledge supplier Refinitiv for $27 billion.
AIRBNB AND DOORDASH SEEK EVEN HIGHER VALUATIONS: Airbnb, which was valued at $31 billion in 2017 earlier than succumbing to the pandemic with an $18 billion tag earlier this yr, has recovered surprisingly rapidly and could also be in search of a valuation of $30 billion to $33 billion in its roadshow this week, the Wall Avenue Journal studies. And DoorDash is now in search of a valuation of $25 to $28 billion, after being final valued at $16 billion in personal markets. Read more.
OH, COINBASE: On Sunday, the New York Instances printed an article based mostly on conversations and paperwork from 23 present and former Coinbase workers alleging racism and discrimination in opposition to Black workers. Coinbase sought to get forward of the story, releasing a statement saying, “We anticipate the story will paint an inaccurate image that lacks full data and context.” However it’s price noting: About 3% of the corporate’s workers are Black—lower than half the common of the remainder of the tech trade. Read more.
SALESFORCE-SLACK TALKS: Late final week, studies emerged that Salesforce was in talks to amass Slack for over $17 billion. Salesforce shares have soared this yr—making for worthwhile M&A forex—whereas Slack’s work-from-home enhance teetered in latest months as buyers nervous about competitors from Microsoft. A deal might come as quickly as this week.
TONY HSIEH DIES AT 46: On Friday, Tony Hsieh, the previous CEO of Zappos.com, died after being injured from a house fire in Connecticut. The Harvard graduate joined the web shoe firm in 1999 and noticed it via its sale to Amazon in 2009 for $1.2 billion and solely retired as its CEO earlier this yr. He was recognized for his management experiments that have been hailed each wacky and visionary.
Lowercase Capital’s Chris Sacca wrote on Twitter, “Tony Hsieh is likely to be essentially the most unique thinker I’ve ever been mates with. He questioned each assumption and shared the whole lot he realized alongside the way in which. He genuinely delighted in making anybody and everybody blissful. The earth has misplaced a superbly bizarre and useful particular person. RIP.”
“My favourite Tony Hsieh reminiscence was watching him beat us all breezily in poker after which give our cash to the sellers and servers as ideas,” tweeted Mark Pincus, co-founder of Zynga. “I’ll miss his quiet smiling confidence.”