Yet another big day in public markets as Airbnb made its debut, popping 115%! The spike was so big it even left Airbnb CEO Brian Chesky speechless.
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Silver Lake's big bet on Airbnb pays off
In the wake of Airbnb going public, Dakin Campbell has a nice look at a couple of firms that are notching big gains.
Silver Lake Partners and Sixth Street Partners made a big bet on Airbnb, loaning the company $1 billion during the height of the pandemic. Part of the deal included an equity kicker, which is quite valuable now.
Get the full rundown of the deal and how the firms made out.
Click here to read the entire story.
Here's how much massive money managers like Fidelity and Principal are up from their original bets on Airbnb
Speaking of big winners from the Airbnb IPO, Bradley Saacks with a nice story on how well mutual funds did. He's got the breakdown on how managers like Fidelity, Principal, and Hartford fared. Read the whole story here.
Stash's new chief creative officer wants to build a lifestyle brand
Here's an interesting one out of Carter Johnson. Chidi Achara doesn't cut the profile of what you'd expect for someone at a fintech, having spent a career in fashion. But he's tasked with the rebrand at Stash. Read more here.
Odd lots:
The Essex Boys: How Nine Traders Hit a Gusher With Negative Oil (Bloomberg)
SPAC Costs Are 'Far Higher' Than Previously Realized, Study Finds (II)
Keeping Up Appearances: FAs Struggle with Pressure to Look Successful (Financial Advisor IQ)
M&A Bankers Won't Get Long Christmas Break, JPMorgan Says (Mergers & Acquisitions)