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February 27, 2020

The coronavirus begins to impact US tech earnings

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.

Today we’re starting on a somber topic, so I’ll hold off on our usual jokes and attempts at puns. The impact of the coronavirus known as COVID-19 is starting to show up in U.S.-based technology earnings, and it’s something we need to discuss. We’ll get back to SaaS multiples, the IPO market, and riffing on startups later today, but first, some bad news from the public markets.

Let’s examine the latest from Microsoft, Nutanix, and Booking Holdings (parent company of Bookings.com), OpenTable, and Kayak. Afterwards, we’ll talk about what types of companies might be impacted, given what we’ve learned. And finally, we’ll link this all back to startups, younger technology shops sensitive to changes in market sentiment and repricing due to public market gyrations.


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