Mar 20, 2019

Levi Strauss IPO set to test waters for tech unicorns

Illustration: Aïda Amer/Axios

Levi Strauss is expected to price its IPO on Wednesday night, kicking off what should be a banner year for mega-listings.

Buzz: Reports are that the denim giant has strong investor interest that could push above its $14–$16 indicative range, the top end of which would raise around $586 million at an initial market cap of nearly $6.2 billion.

The big picture: The Levi's IPO is a big test of investor appetite or distaste for dual-class share listings. If fund managers will accept it for a company whose founder died 116 years ago, then they'll accept it for tech unicorns whose founders are still in charge (no matter how much Paul Singer objects).

What's next? Next week's big issuer, Lyft, reportedly is also oversubscribed after just two days of its nine-day roadshow.

Go deeper: A refresher on details of Levi Strauss' IPO plan

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Ina Fried

Exclusive: Global trust in the tech industry is slipping

Illustration: Aïda Amer/Axios

The backlash against Big Tech has long flourished among pundits and policymakers, but a new survey suggests it's beginning to show up in popular opinion as well.

Driving the news: New data from Edelman out Tuesday finds that trust in tech companies is declining and that people trust cutting-edge technologies like artificial intelligence less than they do the industry overall.

Go deeper19 mins ago - Technology

Marisa Fernandez

"It was 30 years ago, get over it": Mike Bloomberg's partner brushes off NDA concerns

Diana Taylor at a Mike Bloomberg event last month. Photo: Ron Adar/Echoes Wire/Barcroft Media via Getty Images

Diana Taylor, Mike Bloomberg's longtime partner, dismissed the concerns surrounding non-disclosure agreements used at his company, Bloomberg LP, telling CBS News that she would say to those bothered by the allegations, "It was 30 years ago, get over it."

Why it matters: Democratic candidates have used the NDAs as a talking point against Bloomberg, calling on him to allow women to speak about the reported sexual harassment and gender discrimination they faced while working for him.

Go deeper33 mins ago - Politics & Policy

Dan Primack

Trump's opportunity to use Bernie as an economic scapegoat

Illustration: Aïda Amer/Axios. Photos: Zach Gibson/Stringer, The Washington Post/Getty Contributor

Bernie Sanders is poised to become an economic scapegoat for both the White House and Corporate America, assuming that Sanders comes through Super Tuesday unscathed.

The big picture: If the U.S. economy remains strong, President Trump and CEOs will claim credit (as they've been doing for three years). If it turns sour, they'll blame Bernie (even though it's a largely baseless charge).

Go deeper1 hour ago - Politics & Policy