so we thought let's get the founder and ceo, andrew paradise in. wow, andrew, eight years in the making. are you on target to meet your goal of ipo-ing before the end of the year, december 31st? >> absolutely. and thank you for having me. it's an important milestone for us, so it'll give us greater access to capital to grow faster than we've ever been. we've always believes fair competition is something everyone should have a stake in. liz: air airbnb -- and i bring m up because we've been waiting for years on that ipo -- it's very tough to pinpoint a time on the calendar, especially this

andrew paradise, ceo and cofounder of mobile gaming company skillz.ing up, we will continue our discussion about spacs, really about the process of going public. we will talk about the more traditional way of going public and it is coming from a company -- bumble set to plan an ipo. we will talk about that coming up next. this is bloomberg. ♪ ♪ today, we are focused on blank check companies and their surgeon popularity. don't forget about a way to go public, the ipo. when you look at the performance, it does seem as though initial public offerings are outperforming in the s&p 500 if you've gone public. joe: absolutely. butt of hype around spacs, easy to forget, a lot of companies still ipo-ing and a lot doing phenomenally well. caroline: we still see today, they are the ones we are talking about going public. airbnb turning down a spac, wanted to go the normal route. and little-known or very well-known bumbling data app. romaine: bumble, very popular app. married so we are not involved in any of that but it is taking a more traditional route of going

so we thought let's get the founder and ceo, andrew paradise in.ght years in the making. are you on target to meet your goal of ipo-ing before the end of the year, december 31st? >> absolutely. and thank you for having me. it's an important milestone for us, so it'll give us greater access to capital to grow faster than we've ever been. we've always believes fair competition is something everyone should have a stake in. liz: air airbnb -- and i bring m up because we've been waiting for years on that ipo -- it's very tough to pinpoint a time on the calendar, especially this year. clearly, you're thinking just get it done. but what is it about going public that excites you so much? you guys are already making triple-digit revenues here. i know you're not profitable just yet, but talk to me about what you would do with the money. >> we could be profitable today, but we've been strategically reinvesting our growth into the business. so it's a rapidly expanding market that we're in, mobile gaming, it's $68 billion today, but it's projected to be $150 bi

joining me now is the founder and ceo of skillz andrew paradise congrats on announcing this deal andeen doing well as a company, you could have gone the ipo route. what is going the spac route better for you and your investors. >> we always planned to go public our vision is to build 100-year company. and we were planning on being ready to go public at the end of q4 this allows us to go to market a little faster and also allows us to select the best financial partners through the pipe that we set up with wellington, fidelity, franklin templeton among others >> so, it was just the timing and getting that money in because it's not like you're paying for the privilege harry sloan, the spac sponsors take, what, up to 20% of your company. that's not nothing >> no, that's quite right. a traditional ipo is 10 to 15% of a company any way and so, when you think about kind of the different parameters of how you want to set up your company post-public, being able to pick meaningful investors like the ones i named, being able to partner with wellington, fidelity right out of the gates is a reall