Wall Street's Pandemic Darling is Fizzling Out
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Hi, it’s Lizzie in New York. In today’s newsletter we’re looking at what seems like the end of the SPAC party. Plus, Zendesk agrees to a private equity takeover and the eternal optimism of SoftBank’s Masayoshi Son.
Today's top stories
Working on a team that covers the SPAC market over the last two-and-a-half years has been a wild ride. From the early days of the boom (remember when DraftKings brought the SPAC merger back?) to the SEC's recent and unrelenting crackdown on the industry, blank-check companies have gone from dusty relic to trophy asset—and back again—in a matter of months. —Elizabeth Fournier