studio craque 54 🏳️‍🌈

So my company is currently public (MAPS) and the founder/CEO is executing a "takeover" of the company and buying out all shares to take it private.

What does this actually mean? Does anyone know this stuff better than I do? What can I expect to see inside the company?

#TechStocks #WallStreet #TakeoverBid #WeedMaps

Dec 19, 2024 at 9:38pmWeb
Show threadd@nny disc@ mc²Dec 19, 2024
@dtauvdiodr sounds a lot like the musk takeover of twitter allowing him to make arbitrary decisions without reference to shareholders. really depends on who the CEO is but if they were already the CEO that immediately seems better off than an external figure like musk although if they heavily used RSUs like twitter that would make me very nervous about upcoming labor practices as that disenfranchises employee control over corp direction
Show threadstudio craque 54 🏳️‍🌈Dec 19, 2024
@hipsterelectron The RSU people are exactly the ones asking questions. But I don't know how extensive that group is, RSUs are not given out to everyone. I am only "senior" in title so I get nothing. A whole lot of senior old timers are heading out.
Show threadd@nny disc@ mc²Dec 19, 2024
@dtauvdiodr hmmmmm yeah removing the (more expensive and more senior) old timers makes me extremely concerned about the labor implications—twitter was already very far down the outsourcing path years before the musk buyout (they essentially outsourced my team without actually firing anyone by replacing our homegrown pants build tool with google's inferior bazel, likely expecting people to leave, which i did) and i suspect the musk buyout was something they had prepared for for a very long time. i am really not experienced here but everyone told me i left at the right time (oct 2020)
Show threadd@nny disc@ mc²Dec 19, 2024
@dtauvdiodr i might ask RSUers their thoughts privately (not over corp slack and possibly not within the office itself)
Show threadbjb  Dec 20, 2024
@hipsterelectron @dtauvdiodr
And you and other party leave phones (esp work phones) out of earshot and do not discuss in a car either.
It's getting harder and harder to have a private conversation.
Show threadThird spruce tree on the leftDec 19, 2024

@dtauvdiodr Unless you're a shareholder, unlikely not much. Not much that couldn't happen to you anyways.

By buying the shares and taking the company private your CEO no longer has a board of directors who can second guess their decisions. So he can do whatever he wants.. or feels he needs to. Like suddenly fire half of their staff. I'd be looking for an exit.

Particularly when industry search incumbants like Goog etc. make finding weed stores really easy; I question WeedMaps value-add.

Show threadjoy larkin 🌺✨Dec 19, 2024

@dtauvdiodr For the company and industry, it probably makes more sense to go private.

It's usually done in situations where company growth is slowing to a point where the public stock market (public shareholders) is punishing the company (i.e. the stock is underwater and/or market cap is at a standstill). Also in your specific situation I think the political environment matters. In some ways, it's better for someone with an interest to take over the company rather than a private equity firm.