Chamath Palihapitiya plans to shutter two SPACs, the $1.15B Social Capital Hedosophia VI and $460M Social Capital IV, after failing to find acquisition targets
Chamath Palihapitiya said he is winding down two special purpose acquisition companies, including his largest ever …
Bloomberg Divya Balji
Related Coverage
- View article Silicon Valley Business …
- ‘SPAC King’ Chamath Palihapitiya Shuttering Two SPACs After Failing to Find Deals Wall Street Journal
- IPO 2.0 update — Today, we started the process of winding down IPOD and IPOF. What I read this week
- Spac booster Chamath Palihapitiya throws in the towel Financial Times
- SPAC ‘King’ Chamath Palihapitiya is winding down two vehicles after failing to find a target company in time MarketWatch
- Chamath Palihapitiya is shuttering two tech SPACs Axios
Discussion
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@chamath
Chamath Palihapitiya
on x
Update on $IPOD and $IPOF: https://chamathreads.substack.com/ ...
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@investor_nick_
@investor_nick_
on x
Things you see as we get closer to a bottom. Key word ... closer. https://twitter.com/...
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@kelmej
Kellie Mejdrich
on x
Can't wait for capital markets folks to get back to their 'it's just impossible to IPO in this country' narrative after breaking all historic records for initial public offerings in the middle of a pandemic. Slide deck ain't broken! https://twitter.com/...
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@tculpan
Tim Culpan
on x
Two SPACs to be shut, funds returned. Kudos for not just burning cash simply b/c they could: “Over the past two years, we evaluated more than 100 targets and while we came close to doing a deal several times, we ultimately walked away each time for a couple of reasons:” 👇👇 https:…
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@pekwat
@pekwat
on x
Chamath is a bad guy. I truly feel bad for those who got swindled by his self promotion. Whilst not explicitly committing fraud, he led uninformed investors off a cliff and that bad karma will catch up with him.
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@arashmassoudi
Arash Massoudi
on x
Welp. It was only a matter of time... https://twitter.com/...
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@mattfrankelcfp
@mattfrankelcfp
on x
Mixed feelings about this. But generally speaking, feels like @chamath could have done this months ago instead of stringing investors along. https://twitter.com/...
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@amrithramkumar
Amrith Ramkumar
on x
New—As he winds down 2 SPACs after failing to find mergers, Chamath tells me public markets are in a “precarious position.” The market he helped fuel has collapsed: https://www.wsj.com/...
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@jsadinolfi
@jsadinolfi
on x
A good deal is hard to find (these days): Chamath, the erstwhile SPAC ‘king’, is liquidating 2 of the investor-backed pools after failing to find acquisition targets https://www.marketwatch.com/ ...
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@arashmassoudi
Arash Massoudi
on x
Sept 2022 1yr performance of Chamath's Spacs Virgin Galactic -78%, Opendoor -78%, CloverHealth -72%, SoFi -68% S&P 500 -10% Berkshire Hathaway +1.5%
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@silvermanjacob
@silvermanjacob
on x
The SPACs are gone. https://twitter.com/... https://twitter.com/...