Autonomous trucking startup TuSimple’s public stock debut turned sour on Thursday, as the stock quickly fell below its IPO price. TuSimple shares were trading in mid afternoon at $37.90, below the $40 level at which it priced the IPO, although it rallied to close at exactly $40. At the IPO price, TuSimple is worth $8.5 billion, compared to its $1 billion valuation as recently as last fall. ...
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The Briefing markets startups
A Boring—but Important—IPO
We tend to lionize founders who start companies with the splashiest, most far-reaching consumer products. So Andrew Bialecki of $10 billion marketing tech startup Klaviyo—a name few people even know how to pronounce (it’s “clay-vee-oh”)—isn’t exactly a favorite to headline the next Code Conference.But Bialecki—a Boston-based, 37-year-old engineer who rarely gives interviews anyway—should be...
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