What do SHAQ, Mark Cuban, and a Tiny Canadian man have in common? - #2
The Daily Dish (12/15/20)
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College Dropout Makes Market Debut With Tiny Tech SPAC
Andrew Wilkinson, a college dropout from Vancouver, British Columbia, is taking Tiny Capital, his tech-focused holding group public via SPAC. Tiny looks at 50 to 100 companies a month and on average buys three to five a year.
Today his empire comprises 30 companies with a combined value he estimates at C$600 million ($471 million) to C$1 billion
On Monday, his company WeCommerce Holdings Ltd., which creates and invests in companies servicing Shopify Inc.’s retail platform, listed its stock on the TSX Venture Exchange. It’ll be done through a reverse takeover of Brachium Capital Corp.
Bill Ackman (the real one), who Wilkinson met when he won a charity lunch auction with the billionaire, is an investor in WeCommerce alongside a Tiny-owned entity that’s 80% owned by Wilkinson with his partner, Chris Sparling
Shaq SPACs With Former TikTok CEO, Disney Execs & MLK Jr.’s Son
Forest Road Acquisition Corp. ($FRX), plans to raise $250 million for deals for the blank-check company, specifically in the media and technology sectors.
Shaq will serve as a strategic adviser, Martin Luther King III has been tapped as a director. The former mouseketeer executives are no joke either. They include former TikTok CEO Kevin Mayer, Thomas Staggs former Chief Financial Officer of Disney, and Salil Mehta a former Executive Vice President for ESPN.
The Big Cactus is a basketball commentator on WarnerMedia’s TNT network, along with being a serial entrepreneur and being Papa John’s first Black board director. He is a shrewd investor, having backed Google prior to its IPO and investing in Ring during its venture capital rounds, prior to its Amazon acquisition.
Metromile: SPAC Bringing Insurance Machine Learning Stock to Nasdaq
David Friedberg founded Metromile in 2011. It’s a car insurance startup offering pay-per-mile (PPM) insurance. It’s disrupting the $280 billion auto insurance industry in the U.S market. The company says two-thirds of U.S. drivers are low-mileage and are overpaying for insurance.
INSU Acquisition Corp II ($INAQ) counts Mark Cuban and Chamath Palihapitiya as $160 million private investors in their projected $1.3 billion market capitalization. They are challenging Warren Buffett in the car-insurance market. The old lizard king’s going to have to compete with the quinoa king now.
"With machine learning technology, our team will be able to better prevent insurance fraud and assist customers with hard-to-prove but common claim types, like hit-and-run collisions, car theft, and rear-ends," said Paul Anzel, a Data Scientist at Metromile. The startup relies on a device that subscribers install in their vehicles, which tracks their mileage and reports other data with their permission.
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