You can thank him for Opendoor (NASDAQ:OPEN) and Clover Health (NASDAQ:CLOV), which will begin trading on the Nasdaq Exchange tomorrow. SoFi was founded in 2011 and was valued at $4.3 billion in its last private funding round. Chamath Palihapitiya's latest SPAC target is a different kind of fintech. The company has received more than 56,000 ratings in the app store and claims more than 1.8 million … Additionally, Palihapitiya and Osborne are huge champions of the recent SPAC craze that has dominated the public markets. Fintech start-up SoFi says it will merge with a special purpose acquisition company, or SPAC, backed by venture capital investor Chamath Palihapitiya. And beyond that, each SPAC is working with varying amounts of cash. Along with IPOE stock, Social Capital Hedosophia Holdings IV (NYSE:IPOD) and Social Capital Hedosophia Holdings VI (NYSE:IPOF) are currently trading without acquisition targets. 2021 InvestorPlace Media, LLC. And most importantly, Palihapitiya has been very successful. What we know about the SoFi IPO. The company expects to hit 3 million customers in 2021, representing year-over-year growth of 66%. SoFi … Essentially, following the SoFi SPAC merger news, many PSTH stock bulls were betting an Ackman announcement would soon follow. SoFi is going public via a SPAC backed by billionaire investor Chamath Palihapitiya, according to an announcement made on CNBC on Thursday. Sarah Smith is a Web Content Producer with InvestorPlace.com. He also estimated profits of $27 million in 2021 expanding to profits of $1.17 billion in 2025. The SPAC is … Palihapitiya and Ian Osborne, IPOE president and director, bring a vast amount of experience in identifying tech winners to the table. Essentially, SoFi is an online fintech startup that specializes in all things personal finance. Plus, as a few savvy investors have highlighted, the Opendoor and Clover Health deals were announced in quick succession. SoFi is going public via SPAC(Special Purpose Acquisition Corp) a method that has exploded in popularity in 2020. As one of the top players in the finance industry, investors are eager for SoFi stock to hit the market. Visit Business Insider's homepage for more stories . The second SPAC from Joanna Coles and Jonathan Ledecky has no announced ticker symbol yet. IPOE Stock: 9 Things to Know Ahead of the SoFi SPAC Merger, raised $700 million by offering 70 million units, claims more than 1.8 million active customers, What to Expect When Facebook Reports Q4 Earnings, Louis Navellier and the InvestorPlace Research Staff, Strong Netflix Earnings Mean NFLX Stock Can Hit $700 in 2021, Luminar Might Be the Best Pure-Play on Autonomous Vehicles, Matt McCall and the InvestorPlace Research Staff, 7 Best Penny Stocks to Buy Early Into 2021, 4 Perfect Stocks to Start Your Retirement Portfolio, 7 Penny Stocks That Could See a Surge in a Biden Presidency. Expectations are for adjusted net revenues to grow with a five-year compound annual growth rate of 43%. On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. SoFi is going public via a merger with a SPAC backed by billionaire investor Chamath Palihapitiya.. Palihapitiya made the announcement on CNBC on Thursday, and Reuters first reported talks of the deal this morning, citing sources familiar with the matter.. SoFi … So what do you need to know now about IPOD, IPOE and IPOF stock? SPAC Deals. 2020 has been the year of the SPAC IPO. If semi companies are sexy to you, this SPAC to me is a really good deal. Deals, Palihapitiya and Ian Osborne, IPOE president and director, bring a vast amount of experience identifying. 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