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SPACs, long shunned in Silicon Valley, going mainstream in tech

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The New York Stock Exchange welcomes Desktop Metal Inc. (NYSE: DM), today, Thursday, December 10, 2020, in celebration of its listing. To honor the occasion, Ric Fulop, Co-Founder and CEO, rings The Opening Bell®.

NYSE

Roger Lee of Battery Ventures says that “SPAC” used to be a “bad four-letter word” in Silicon Valley.

Now, the board of every high-profile start-up is discussing special purpose acquisition companies as a legitimate way to go public, according to Jeff Crowe of Norwest Venture Partners.

In the eyes of Lux Capital co-founder Peter Hebert, SPACs are “stealing from the 2021 IPO calendar.”

“We have encouraged our highest-quality companies to seriously consider this,” said Hebert,…



Source cnbc.com

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