We've received your submission. The pending merger with Social Capital Hedosophia … “SoFi’s innovative, member-first platform has demystified financial services for millions of Americans,” Palihapitiya said in a statement. Because of this, he believes consumer expectations and behaviors are shifting toward fintech startups like SoFi. SPACs raised a record $78 billion in the U.S. last year, according to data compiled by Bloomberg, as financiers and startup founders sought a quicker way to go public than the traditionally cumbersome process of initial public offerings. Terms of Use SoFi going public at $8.65B valuation via merger with Chamath's Social Capital Jan. 07, 2021 10:59 AM ET Social Capital Hedosophia Holdings Corp. V (IPOE) By: Liz Kiesche , SA News Editor 53 Comments Online personal-finance company SoFi is going public in a $8.65 billion deal with Social Capital Hedosophia Holdings V, the latest blank-check company from venture capitalist Chamath … LONDON: Online lending startup Social Finance (SoFi) is nearing a deal to go public through a merger with Social Capital Hedosophia Holdings Corp V, a blank-check acquisition company … Your Ad Choices The online lender known as SoFi, which gained popularity by refinancing student loans, agreed to merge with Social Capital Hedosophia Holdings Corp. V, a special purpose acquisition company founded by former Facebook executive Chamath Palihapitiya. Online lending startup Social Finance Inc. (SoFi) said Thursday it has agreed to go public through a merger with Social Capital Hedosophia Holdings Corp V, a blank-check acquisition company … The merger deal with Social Capital Hedosophia Holdings Corp V (NYSE: IPOE) has valued SoFi … They have emerged as a popular IPO alternative for companies, providing a path to going public with less regulatory scrutiny and more certainty over the valuation that will be attained and funds that will be raised. “The new investments and our partnership with Social Capital Hedosophia signify the confidence in our strategy, the momentum in our business, as well as the significant growth opportunity ahead of us,” SoFi Chief Executive Anthony Noto said in a statement. But recent growth has come at a cost to the bottom line. The deal, confirmed by SoFi… Fintech start-up SoFi says it will merge with a special purpose acquisition company, or SPAC, backed by venture capital investor Chamath Palihapitiya. Before it's here, it's on the Bloomberg Terminal. January 7, 2021 | 2:37pm | Updated January 7, 2021 | 2:37pm. SoFi set to go public via merger with Palihapitiya’s fourth Spac SoFi, the personal and student finance lender which branched out into payments and banking infrastructure last year with its … Specifically, many are hoping that Ackman will identify a … … SoFi sets sights on going public via SPAC merger December 8, 2020. The Motley Fool stated that SoFi is valued at $8.65 billion in the acquisition deal, which includes funds being contributed as part of the SPAC merger. But the company isn’t going public via a traditional IPO. Units of Social Capital Hedosophia Holdings Corp V had jumped as much as 47.9 percent following the report and were trading up 29.7 percent at $15.72 before the stock was halted. “Additionally, the acceleration of cross-buying by existing SoFi members has created a virtuous cycle of compounding growth, diversified revenue and high profitability.”. This story has been shared 139,478 times. Essentially, following the SoFi SPAC merger news, many PSTH stock bulls were betting an Ackman announcement would soon follow. All about the Florida home Trump will live in after the White House, 'I love what they did': Snoop Dogg on Trump granting clemency to pal, Trump commutes sentence of Snoop Dogg pal Michael 'Harry O' Harris, Melania Trump steps out in $3,700 orange dress after landing in Florida, Dog imitates owner's limp in heartwarming show of 'sympathy'. Social Finance Inc., the online lender known as SoFi that gained popularity by refinancing student loans, agreed to go public by merging with a special purpose acquisition company in a … SoFi’s SPAC-Enabled Public Offering. 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