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Equity Monday: Stock market woes, vertical SaaS and WeWork gets serious

Alex Wilhelm
·2-min read

Good morning friends, and welcome back to TechCrunch’s Equity Monday, a short-form audio hit to kickstart your week. Regular Equity episodes still drop Friday morning, so if you’ve listened to the show over the years don’t worry — we’re not changing what we've always done. (Here’s last week’s episode with Danny Crichton, in which we talked about Kleiner Perkins, venture capital pace and more.)

This morning we opened with the latest from China, namely its stock market selloff that looked a bit scary from this side of the ocean. However, global markets had largely absorbed the news stemming from the coronavirus over the last few days, meaning that what happened to China's stocks isn't replicating itself this morning. U.S. futures are up as I write to you this morning.

And since we last spoke, shares of One Medical managed to have a stunning first day, shooting higher despite somewhat lackluster IPO pricing. As we wrote last week, the result is good news for other tech-enabled companies looking to go public.

Bitcoin also had a big January, and we're seeing payments consolidation in Europe. No, fintech isn't very interesting. But, yes, fintech probably matters quite a lot. Consider yourself caught up.

Moving along this morning, we chatted about two different early-stage rounds:

Both fit inside the vertical SaaS theme that we've seen raise so much capital over the past few years.

Finally, WeWork has a new CEO it appears, and the hire looks both intelligent and mature (two traits that WeWork sorely needed before). Better late than never, and so on.

Got all that? Good. Equity is back Friday morning with all the latest, including whatever happens to Casper's impending IPO.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.