Rideshare giant Lyft set its IPO price per share at $72 ahead of its NASDAQ debut this morning, raising $2.3 billion at a $24 billion valuation. This is the largest technology IPO since Snap, which was valued at $33 billion when it went public in 2017.
In cloud startup news Microsoft this week released patents to 500 startups as part of an expansion to its Azure IP Advantage program. In an effort to help prevent Azure users from experiencing patent theft, Microsoft is protecting customers qualified startups within the LOT network (whose members include Lyft, Amazon, Netflix, and other giants) who are building IoT solutions.
Elsewhere in the world of cloud computing, AWS announced that it will build a Latin American Infrastructure in Colombia. The location will be aimed at teaching 2,000 students about cloud computing as well as deliver data, videos and applications at high speeds to end users.
New in SaaS business listings this week we have a $4.1M B2B Sales and Marketing Software Portfolio, with a diversified portfolio of 12 complementary SaaS businesses, strong SaaS metrics with a vast paying customer base of over 5,000 users, firm foothold in the lucrative, high-growth digital marketing industry, well-trained team capable of running the day-to-day operations staying on post-sale and influential social media presence with thousands of members in a private Facebook Group. If you are interested in this business, please follow the link to request a prospectus.
In events news, the FE team had a great time attending MicroConf in Las Vegas this past week. Thanks to everyone who stopped to chat, grab a copy of SaaS Mag and attended Founder Thomas Smale’s roundtables on how to build a profitable business!
Next week, we are looking forward to LTV Conf kicking off in New York! 300+ SaaS Founders, Executives and Investors from private and public companies will be in attendance making this the largest SaaS event in the city and the perfect place to learn and make new connections. With several exciting speakers lined up, including Greg Smith, Chief Investment Officer at Business Development Bank Canada, YCombinator alum Einar Vollset and Chargebee’s own Germain Brion who scaled the company’s Sales Success team, this is primed to be the best LTV Conf yet. There is still a little time left for a last minute earlybird ticket as there are a few remaining. Discounts are offered to bigger groups, so make sure to bring your team, and use code FEINTERNATIONAL10 at checkout for an extra 10% off.
Continue reading below for more on Lyft’s IPO, Microsoft’s patent protection program and AWS’s new location in Colombia.
Listings
New
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- Strong SaaS metrics with a vast paying customer base of over 5,000 users
- Firm foothold in the lucrative, high-growth digital marketing industry
- Well-trained team capable of running the day-to-day operations staying on post-sale
- Influential social media presence with thousands of members in a private Facebook Group
Yearly net profit: $1,035,000
Asking price: $4,126,000
Sold
E-Commerce – 8000-Tier Amazon Merch – $1.9K gross/mo
Lead Generation – Recruitment Development Resource – $800 gross/mo
In the News…
Lyft Sets IPO Price
Lyft priced shares in its initial public offering at $72 this morning, the high end of the range, valuing the company at $24 billion.
The 32.5 million shares issued began trading today under the ticker LYFT. Over the past two years Lyft has added 17% of the total US market to its share, now capturing 39% with Uber as its biggest competitor, according to the S-1 filing. Early investors include Floodgate, K9 Ventures, Mayfield Fund, and Peter Thiel’s Founders Fund. Lyft’s President, John Zimmer, stated “Investors were excited to be part of this story because they saw there is a massive shift coming from owned vehicles to transportation as a service.”
Uber is expected to release its S-1 filing and go public next month.
Microsoft Launches Patent Protection Program
Microsoft announced a new initiative offering Azure users patent protection from trolls.
Customers using Azure to build IoT solutions have access to 10,000 patents as a resource protecting against intellectual property lawsuits. Microsoft will also be donating 500 patents to LOT Network startups, an organization which includes companies like Amazon, Facebook, Google, SAP, Lyft and Uber among the nearly 400 member businesses. This network was created to offer companies patent protection by way of access to a vast library of patents from member companies as well as additional sources.
Microsoft CVP and Deputy General Counsel Erich Andersen stated of the program, “The LOT Network is really committed to helping address the proliferation of intellectual property lawsuits, especially ones that are brought by non-practicing entities, or so-called trolls.”
AWS Opens Latin American Location
Amazon Web Services (AWS) announced this week that it will open an infrastructure location in Colombia to train 2,000 students in cloud computing.
Jeffrey Kratz, AWS’ General Public Sector Manager for Latin America, the Caribbean and Canada, stated that the company will partner with Colombia’s public technical education institute to train students in cloud technology. In addition to the public initiative, as AWS’ fourth Latin American location, the infrastructure will help deliver data, videos and applications to end-users at higher speeds. According to Kratz, Amazon is aiming to support the development of digital infrastructure to help entrepreneurs build large-scale projects.
Amazon is reportedly planning to continue to invest in Colombia.
For more updates throughout the week on the financial world of online business M&A, follow our team on Facebook, LinkedIn, Twitter, and Instagram.
Until Next Week,
The FE International Team