Inside Rover and MoneyLion’s SPAC-led public debuts

Inside Rover and MoneyLion’s SPAC-led public debuts

If we are not careful, each entry in this column may contain SPAC news. Special purpose companies, or blank-check companies, whatever you like to call them, are in lot business today. However, that is not all, and we will get to other things soon. Consider apologizing for writing about SPAS twice a day.

Yesterday, we considered the rise of VC-led SPAC and whether the capital groups the seed through-SPAC financing initiative will benefit the market over the firm specialists at any particular early stage. Associated with the blank-check theme, this morning we are looking for two SPAC-led deals involving Rover and Money Leone.

We are doubling down to prevent more spec-related posts. In addition, we chose Rover because another pet-themed entity, Chewy, is already a public company. Since both were enterprise-supported, we may be able to contrast their trading performance for the first time. Sadly, Chevy is focusing on pet e-commerce and Rover more focused on pet services, but they can prove enough to make some loose comparisons.

In addition, why chat about MoneyLion? Because it is a heavily enterprising-supported fintech startup, TechCrunch has extensively covered it. If its speck-assisted vault runs well in public markets, it could smooth the same path for countless other still-private fintechs sitting on top of a hill of raised capital. Therefore, this is a speck post, but since we have mostly heard of two companies over the ages and looked at financial institutions I have never seen in between, hopefully you will be joining me in the same way. We are starting with a presentation of Rover investors before Money Leone zips up on its own.

Rover

Rover Nebula Caravel Acquisition Corporation, approved with True Wind Capital. This agreement is about $1.6 to Rover. Gives expected market cap of billions of dollars with about three hundred million dollars of cash in his books.

So, how interesting is this new unicorn? You can get his investor deck here if you want to read as soon as you peek here.

First, the company emphasizes the growing use of digital services over the past year, thanks to epidemics and growing pet ownership. Both are true. We have seen accelerated digital transformation for both companies and customers. In addition, if you have been trying to get pets lately, you have seen how many people are waiting for a permanent home.

With the things behind it, you might be wondering why Rover is also heading for a SPAC-led debut. If it market is hot and it has already raised its venture capital, why not just go public through an IPO? Because 2020 tough on the organization.

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