Jan 7 (Reuters) - Online lending startup Social Finance Inc (SoFi) said on Thursday it has agreed to go public through a merger with Social Capital Hedosophia Holdings Corp V, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya. The merger with Palihapitiya’s SPAC, Social Capital Hedosophia Corp V, will value SoFi at $8.65 billion. If we look at the IPOF board of directors, it includes former Twitter CEO, Dick Costolo. Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies, from space tourism firm Virgin Galactic to home-selling platform Opendoor. Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies, from space tourism firm Virgin Galactic … Social Capital Hedosophia V is one of three so-called special purpose acquisition companies (SPACs) backed by U.S. investor Palihapitiya and London-based Ian Osborne that are currently looking for acquisitions. None other than Anthony Noto, who eventually left Twitter in 2018 to become CEO of SoFi. Popularity of SPACs . https://www.forbes.com/.../3-reasons-to-buy-sofi-stock-after-its-spac-ipo Image source: Getty Images. TechCrunch fait partie de Verizon Media. The company has also branched out into stock trading and cash management accounts. The stock made it to $33.05 by early 2018 before stalling out for roughly a year and a half.Related Link: Here's How Much Investing ,000 In JPMorgan Stock 5 … It started with refinancing student loans and expanded into mortgages and personal loans. The company has also branched out into stock trading and cash management accounts. As an investor since 2014 in San Francisco-based Social Finance (SoFi) — an online provider of student loan refinancing, mortgages, personal loans, stock and cryptocurrency trading, and wealth management services — I was pleased to learn that it is poised to go public in a deal that will value the … 1. By Chris on Monday, January 4, 2021. Author of the article: Reuters. … SoFi, a San Francisco-based personal finance company, agreed to go public via a reverse merger with a blank-check company called Social Capital Hedosophia Holdings Corp. V at an $8.65 billion valuation. Weekly SPAC Rundown 12/28/20 – 1/3/21. SoFi has been the most anticipated target for the … Continue Reading. © 2021 CNBC LLC. Financial services platform SoFi Inc. is planning to come public via a merger with a special-purpose acquisition company, or SPAC. Founded in 2011, San Francisco-based SoFi capitalized on the retrenchment of banks from large swaths of consumer lending in the aftermath of the 2008 financial crisis. Also surprised that IPOE announced merge before IPOD & IPOF but not complaining since I own all 3 Spacs. SoFi exceeded my expectations, kudos to Spac King Chamath for landing that winner racehorse! Perhaps these companies would have merely stayed private sans SPACs. In 2020, some 445 total IPOs took place in the US. Private Company: SoFi Chamath Palihapitiya made waves when he announced the fifth Social Capital Hedosophia SPAC would take SoFi public. SoFi IPO: Stock Coming in 2021 via Palihapitiya's Newest SPAC The merger values SoFi at an equity value of … Article content. 100% pure SPACulation here, but I think IPOF will merge with SoFi. All Rights Reserved. Many of the 2020 SPACs were high-risk in bubble territory, like the EV sector. Get this delivered to your inbox, and more info about our products and services. SoFi nears deal to go public with SPAC backed by venture capital investor Palihapitiya -sources. 3 Reasons To Buy SoFi Stock After Its SPAC IPO Forbes - Peter Cohan. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. Reuters reported in December that SoFi had held discussions with SPACs … SoFi is expected to go public through the SPAC route in the first quarter of 2021, according to a press release from SoFi. Social Finance Inc. is planning for takeovers after agreeing to go public in a merger with a blank-check company that values the upstart at around $8.7 billion. Data is a real-time snapshot *Data is delayed at least 15 minutes. Publishing date: Jan 07, 2021 • January 7, 2021 • 2 minute read. SoFi nears deal to go public with SPAC backed by venture investor Palihapitiya: Report. The new one, SoFi, it's been agreed upon, so it's going public under a SPAC that you can buy on the market right now. The company said in October it had received preliminary, conditional approval from the U.S. Office of the Comptroller of the Currency in its application for a national bank charter. Shares of Social Capital Hedosophia Holdings V soared 44% Thursday afternoon. SoFi is going public via a SPAC backed by billionaire investor Chamath Palihapitiya, according to an announcement made on CNBC on Thursday. SoFi and Social Capital did not immediately respond to requests for comment. The SPAC Deal: SoFI announced a SPAC merger with Social Capital Hedosophia Holdings V (NYSE: IPOE), led by Chamath Palihapitiya. BUYING NOW! The pending merger … In short, a SPAC is a blank check public company with the … The SPACs … Now that SPAC merger news has IPOD and IPOF stock soaring. A SPAC is a shell company that raises money in an initial public offering (IPO) to merge with a privately held company that then becomes publicly traded as a result. If you are not familiar with what they are, check out this article where we break them down in detail. The sources requested anonymity because the negotiations are confidential. The fintech follows in the footsteps of Virgin Galactic (late 2019), Opendoor Technologies (last month), and Clover Health (this month). The deal values SoFi at $8.65 billion, including the money being contributed as part of the SPAC merger. Sign up for free newsletters and get more CNBC delivered to your inbox. If that's true, two cheers for blank-check companies? Chamath Palihapitiya announced IPOE would take SoFi public. Vous pouvez modifier vos choix à tout moment dans vos paramètres de vie privée. EXCLUSIVE-SoFi to go public through merger with Palihapitiya-backed SPAC Jan 7, 2021 REUTERS NEXT-AirAsia Group "joined at hip" with Airbus despite cancellations Jan 11, 2021 The Spac route to an IPO is becoming increasingly popular – particularly in the US. The key investor takeaway is that SoFi is an appealing investment once the business combination with the IPOE SPAC closes in a few months. Social Capital Hedosophia Holdings Corp. V. Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies. Since SoFi has both a consumer and an enterprise play, it’s really legit and has a 15-25% chance of disrupting the financial sector. Pour autoriser Verizon Media et nos partenaires à traiter vos données personnelles, sélectionnez 'J'accepte' ou 'Gérer les paramètres' pour obtenir plus d’informations et pour gérer vos choix. Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. Social Capital Hedosophia V raised around $800 million in an IPO on the New York Stock Exchange in October. Online lending startup Social Finance (SoFi) is nearing a deal to go public through a merger with Social Capital Hedosophia Holdings Corp V, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya, people familiar with the matter said on Thursday. Who was recruited to be CFO at Twitter during Costolo’s leadership? Got a confidential news tip? The company said in … Reuters reported in December that SoFi had held discussions with SPACs about a merger. You may have seen recently that SoFi is in talks with SPACs.. Here is a look back at some of … Social Capital Hedosophia V raised around $800 million in an IPO on the New York Stock Exchange in October. SoFi will mark the fourth company taken public by one of Palihapitiya’s Spacs. Founded in 2011, San Francisco-based SoFi capitalized on the retrenchment of banks from large swaths of consumer lending in the aftermath of the 2008 financial crisis. A Division of NBCUniversal. Jan. 9, 2021, 07:45 PM . The ticker symbol is IPOE, it's one of Chamath's SPACs. Social Capital Hedosophia V is one of three so-called special purpose acquisition companies (SPACs) backed by U.S. investor Palihapitiya and … Free newsletters and get more CNBC delivered to your inbox, and Market and! At the IPOF board of directors, it 's one of Chamath 's SPACs … Continue Reading before &! 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