The long-awaited Airbnb S-1 finally dropped last night. Here’s a roundup of what you need to know:
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- Airbnb said in its IPO filing that its search results have been hurt by Google launching its own travel-comparison tools
- Airbnb’s three founders have put two unusual twists on their efforts to retain control after their company goes public
- Airbnb just revealed it’s under examination by the IRS, which is proposing the home-sharing giant pay more than $1.35 billion in back taxes
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Goldman Sachs’ cohead of investment banking is jumping ship to be CEO of a Michael Dell-backed investment firm
Goldman Sachs
The upper echelons of one of Goldman Sachs’ most prestigious businesses, its investment banking division, are about to undergo a big leadership transition.
Gregg Lemkau, co-head of the firm’s investment banking division since 2017 and a member of Goldman’s management committee, is departing the firm at the end of 2020. He will be succeeded by Jim Esposito, Goldman’s global co-head of its global markets division, who will step into Lemkau’s role on Jan. 1.
Lemkau's exit and Esposito's move to co-head the investment banking division means that Wall Street's top bank for mergers and acquisitions will be led by two people with experience in other areas.
Akoya, a data aggregator backed by major banks, just nabbed its first client
Data aggregators like Plaid and Yodlee were born out of the need to efficiently distribute data between fintechs and banks, serving as the the pipes behind the fintech revolution. But a new competitor is making a push to set a common data-sharing standard.
Originally created at financial-services giant Fidelity in 2018, Akoya was spun out earlier this year. Along the way it nabbed backing from 12 financial institutions, including Citi, JPMorgan, and Wells Fargo. And on Monday, it notched its first big client win.
Here's how it's looking to take on Plaid and Yodlee and upend how bank data is shared.
Odd lots:
Companies tiptoeing back to the office encounter legal minefield (WSJ)
'You Could Compare It to a Picasso': Pigeon Sells for $1.9 Million (NYT)
RXR Realty Eyes $1 Billion to Tackle Property Market Dislocation (Bloomberg)