I'm being "invited" to "pre-register" for an IPO (Doximity)

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neurosphere
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I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by neurosphere »

tl;dr: I'm a part-time physician and a medicine related company (Doximity) is going public. It's like a "facebook" for physicians. I don't necessarily intend to participate, but I'd love some education about this aspect of how companies go public.

Now, I received this email recently (bolding is mine):
At Doximity, we believe technology should work for physicians, not the other way around. Your success and productivity are our mission and life's work.

You are part of a select group of Doximity members receiving this email. As you may know, Doximity has taken steps towards becoming a publicly-traded company. We're excited to announce that as part of our proposed IPO, we plan to offer a Reserved Share Program (also known as "Friends and Family" shares, or a Directed Share Program) to our most active physician members, including you.

With this program, we plan to reserve a portion of Doximity's IPO shares for eligible Doximity members to purchase at the initial public offering price at the time of our proposed IPO. Eligibility is limited to U.S. physicians who are verified members of Doximity and users of the mobile app, prioritized by:

having a photo in their Doximity profile
number of mobile app days active in the last quarter
This program will be administered by a third-party Program Administrator, Fidelity Investments ("Fidelity"), and not by Doximity. In the coming days, Fidelity will send an email with more information directly to the eligible Doximity members who have pre-registered in accordance with this email, regarding how to create or link a Fidelity account to participate.

Participation is capped at approximately $5,000 per eligible Doximity member and may adjust based on participation levels. We've provided more information about the eligibility criteria, restrictions, legal information, and what this process will look like in our FAQs here.
I don't believe in investing in individual stocks. If I could predict which stocks would do better than others I wouldn't be on BH and instead I'd be a gazillionaire. But I am interested in educating myself.

In addition, I'm very much worried that thousands of physicians received the same email

Some questions:

-- Is it typical for companies to solicit small-dollar amounts? Does this suggest that the "big money" is not interested?
-- Could this be more of a marketing campaign than any true attempt to solicit funds for an IPO? I suppose there is no real distinction, in that the final pathway is simply to increase the money that Doximity receives, by whatever means necessary.
-- I'll admit a lack of both experience and knowledge in pre-IPO companies and solicitations. Given that this $5000 "reservation" does not come with an obligation, is there any way possible this some sort of special opportunity? I suspect not. Once the IPO price is set, who the heck knows whether that IPO share price is a good deal or not? Doesn't it simply come down to any other decision about any particular company at any particular price?
-- btw, here is a link to an FAQ page they sent me in the email: https://www.doximity.com/dsp_program/fa ... ximity-eda
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes".
Tingting1013
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Tingting1013 »

Most IPOs are intentionally underpriced so that there is a opening day pop, rewarding the institutional investors who bought shares at the offering price.

https://www.bloomberg.com/view/articles ... he-ipo-pop

I would take them at their word that they want to reward the users who made their business possible. After all, for their business model to work they need to keep the users happy. Intentionally screwing MDs with a bad stock is not in their interest.

Looks like they are reserving 15% of the offering for users.

https://www.medpagetoday.com/special-re ... ives/92891

15% of $100M offering divided by $5k max allocation equals 3,000 MDs who could be allocated shares.

If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
alex_686
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by alex_686 »

Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm Looks like they are reserving 15% of the offering for users.

https://www.medpagetoday.com/special-re ... ives/92891

15% of $100M offering divided by $5k max allocation equals 3,000 MDs who could be allocated shares.

If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
This is on the high side. I suspect they are doing it in part to build a loyal customer base. Basic human nature to conflagrate what you own with high quality. A little odd but I doubt it is a scam.
Former brokerage operations & mutual fund accountant. I hate risk, which is why I study and embrace it.
todaysBob
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by todaysBob »

This program is similar to what Airbnb and Uber had although Doximity is reserving a much higher %. Airbnb had 7% for hosts and Uber 3% for drivers.

Between I have $10.5k of Doximity stock bought through EquityZen in 2019, hoping the IPO goes well!
(I don't buy individual stocks now, this is from before when I thought why invest in S&P 500 at all time highs and not target something with "better"returns :D )
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by neurosphere »

Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
Thanks for the helpful links!

Regarding your comment about flipping for a profit on the opening day...does that mean that, in general, others buying into the IPO will NOT have this same strategy? That is, that I will flip for a profit because the other investors don't realize they should do the same? Or, if they DO realize they should do this, that I will do it before they do it? :confused
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Tingting1013 »

neurosphere wrote: Mon Jun 07, 2021 8:50 pm
Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
Thanks for the helpful links!

Regarding your comment about flipping for a profit on the opening day...does that mean that, in general, others buying into the IPO will NOT have this same strategy? That is, that I will flip for a profit because the other investors don't realize they should do the same? Or, if they DO realize they should do this, that I will do it before they do it? :confused
Before the offering is public only a handful of institutional investors (and in this case a few thousand MDs) will have had the chance to buy in.

As soon as the stock goes public the entire world has the opportunity to buy. For a hot stock, even if every one of the initial investors sells all their shares on the first day (which won’t happen), the stock can still pop due to interest from the rest of the market.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by tigerdoc93 »

I’m going to participate mostly out of curiosity but also to learn more about the IPO process.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by alex_686 »

neurosphere wrote: Mon Jun 07, 2021 8:50 pm
Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
Thanks for the helpful links!

Regarding your comment about flipping for a profit on the opening day...does that mean that, in general, others buying into the IPO will NOT have this same strategy? That is, that I will flip for a profit because the other investors don't realize they should do the same? Or, if they DO realize they should do this, that I will do it before they do it? :confused
Some investors will be long term holders. But the first few days if trading can be hectic and confusing. There is a time honored tradition of getting IPO shares and dumping them shortly after. It is somewhere between free money and a lottery ticket. 100+ years. I have a ring-side view of the dot.com boom. It is the rare IPO that goes south after open. However, if does goes south you will be left holding the bag. The hazards of risk and return.
Former brokerage operations & mutual fund accountant. I hate risk, which is why I study and embrace it.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by neurosphere »

Ok, literally as an educational experience, I just pre-registered for the option buy $5000 in shares. They are going to let me know later if I registered in time, relative to others, to participate.
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes".
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neurosphere
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by neurosphere »

tigerdoc93 wrote: Mon Jun 07, 2021 8:55 pm I’m going to participate mostly out of curiosity but also to learn more about the IPO process.
We will learn together! For the record, I'm considering this 100% casino +/- tuition money. :mrgreen:
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes".
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by tigerdoc93 »

neurosphere wrote: Mon Jun 07, 2021 8:59 pm
tigerdoc93 wrote: Mon Jun 07, 2021 8:55 pm I’m going to participate mostly out of curiosity but also to learn more about the IPO process.
We will learn together! For the record, I'm considering this 100% casino +/- tuition money. :mrgreen:
Me too!
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Tingting1013 »

It is likely that there will be so much interest you won't get your full $5k allocation.

So let's say you get allocated $3k in shares. If it drops by 20% from the offering price (a catastrophic scenario in the context of an IPO and for which the bankers might actually get sued by the company), and you sell immediately, you will have lost $600. But not even that much, since that counts as short term capital loss which you can deduct against your income.

The real risk is that it pops 100%, and you are left deciding whether to hold for long term gains.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by BolderBoy »

This is marketing 101 and checks the boxes I can think of (limits on amounts you can buy, special group, limited time offer, etc.) This technique is used to sell any- and every-thing.

In the 1990s I got such an offer by TRPrice just before they offered their "Blue Chip Growth" fund to the public. Checked all the same boxes.
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Tingting1013 »

BolderBoy wrote: Mon Jun 07, 2021 9:14 pm This is marketing 101 and checks the boxes I can think of (limits on amounts you can buy, special group, limited time offer, etc.) This technique is used to sell any- and every-thing.

In the 1990s I got such an offer by TRPrice just before they offered their "Blue Chip Growth" fund to the public. Checked all the same boxes.
An IPO and a mutual fund initial offering are completely different things with different dynamics. There is no expectation of a first day pop with a fund.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by BolderBoy »

Tingting1013 wrote: Mon Jun 07, 2021 9:15 pm
BolderBoy wrote: Mon Jun 07, 2021 9:14 pm This is marketing 101 and checks the boxes I can think of (limits on amounts you can buy, special group, limited time offer, etc.) This technique is used to sell any- and every-thing.

In the 1990s I got such an offer by TRPrice just before they offered their "Blue Chip Growth" fund to the public. Checked all the same boxes.
An IPO and a mutual fund initial offering are completely different things with different dynamics. There is no expectation of a first day pop with a fund.
I'm talking about "Sales and Marketing". It applies to anything being sold.
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by mrspock »

Run. The allocation this company deserves in your portfolio are proportional to its weight in the total market index — which is to say nearly nothing. Feature, not a bug of index investing.

If you want to mess around with this kind of stuff, do it with a mad money allocation of 5-10% , but here’s the catch: once that money is gone… it’s gone. There’s no refilling it! If it goes to zero, that’s it. Otherwise you’ll have continued drag on your portfolio.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by todaysBob »

neurosphere wrote: Mon Jun 07, 2021 8:50 pm
Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
Thanks for the helpful links!

Regarding your comment about flipping for a profit on the opening day...does that mean that, in general, others buying into the IPO will NOT have this same strategy? That is, that I will flip for a profit because the other investors don't realize they should do the same? Or, if they DO realize they should do this, that I will do it before they do it? :confused
Usually institutional investors participating in the IPO agree to hold their stock for a longer period of time, employees can also not sell for 6 months most of the time although airbnb did let employees sell right away if I remember correctly. Because of these constraints on the supply, there are good chances of a first day pop but ofcourse not a sure thing.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Tingting1013 »

The one cautionary tale of individual investors being offered shares and then the IPO crashing immediately is Vonage. You can google it.

The fact that it happened in 2004 and there are no other comparable stories should tell you something.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Dmslax45 »

You should also make sure there is no lock up or hold period. Sometime DSPs will have a 90 or 180 day lockup for participants and then you’re stuck in it.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by withrye »

I received the same email a few days ago and have been waffling since. Based on this thread I've decided to move forward with the pre-registration, also as an educational experience. I'm not sure yet whether I'll follow through and put in a request for reserved shares, but at least this way I can review the preliminary prospectus and learn more about a (likely one-time) new process.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by tomsense76 »

alex_686 wrote: Mon Jun 07, 2021 8:56 pm
neurosphere wrote: Mon Jun 07, 2021 8:50 pm
Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
Thanks for the helpful links!

Regarding your comment about flipping for a profit on the opening day...does that mean that, in general, others buying into the IPO will NOT have this same strategy? That is, that I will flip for a profit because the other investors don't realize they should do the same? Or, if they DO realize they should do this, that I will do it before they do it? :confused
Some investors will be long term holders. But the first few days if trading can be hectic and confusing. There is a time honored tradition of getting IPO shares and dumping them shortly after. It is somewhere between free money and a lottery ticket. 100+ years. I have a ring-side view of the dot.com boom. It is the rare IPO that goes south after open. However, if does goes south you will be left holding the bag. The hazards of risk and return.
Exactly. People were apparently doing the same thing with SPACs early on. Though it sounds like that has been mostly arbitraged away

This podcast interviews a professor knowledgeable about IPOs. May be a good listen on the subject if you are thinking of participating
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Tingting1013 »

tomsense76 wrote: Mon Jun 07, 2021 10:47 pm
alex_686 wrote: Mon Jun 07, 2021 8:56 pm
neurosphere wrote: Mon Jun 07, 2021 8:50 pm
Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
Thanks for the helpful links!

Regarding your comment about flipping for a profit on the opening day...does that mean that, in general, others buying into the IPO will NOT have this same strategy? That is, that I will flip for a profit because the other investors don't realize they should do the same? Or, if they DO realize they should do this, that I will do it before they do it? :confused
Some investors will be long term holders. But the first few days if trading can be hectic and confusing. There is a time honored tradition of getting IPO shares and dumping them shortly after. It is somewhere between free money and a lottery ticket. 100+ years. I have a ring-side view of the dot.com boom. It is the rare IPO that goes south after open. However, if does goes south you will be left holding the bag. The hazards of risk and return.
Exactly. People were apparently doing the same thing with SPACs early on. Though it sounds like that has been mostly arbitraged away

This podcast interviews a professor knowledgeable about IPOs. May be a good listen on the subject if you are thinking of participating
13 minutes in...the average US IPO over the past year has had a 40% pop on the first day of trading. I wish all the doctors participating best of luck!
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by BionicBillWalsh »

I’d be really concerned about what they actually offer as far as long term financial success. Outside of them spamming my email on a daily basis, they just aren’t compelling in a very crowded and entrenched industry.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by tigerdoc93 »

Tingting1013 wrote:

“13 minutes in...the average US IPO over the past year has had a 40% pop on the first day of trading. I wish all the doctors participating best of luck!”

That would be nice! I’ve got to find out the details especially regarding a lock out period.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by coyotedo »

Lockup period is 180 days. Doximity has grown their top and bottom line YoY. Revenue retention rate is 153% (they keep existing customers and get them to spend more). Whether or not it pops on market day is irrelevant since you can’t dump it for 6 months. The financials are way more solid than most tech IPOs so it’s a potentially promising long term hold.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Tingting1013 »

coyotedo wrote: Wed Jun 09, 2021 10:54 pm Lockup period is 180 days. Doximity has grown their top and bottom line YoY. Revenue retention rate is 153% (they keep existing customers and get them to spend more). Whether or not it pops on market day is irrelevant since you can’t dump it for 6 months. The financials are way more solid than most tech IPOs so it’s a potentially promising long term hold.
I work in SaaS corporate finance and can confirm that this particular stat is best-in-class.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Actin »

Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Tingting1013 »

Actin wrote: Thu Jun 10, 2021 2:01 pm Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
You can think of it as LinkedIn + Zoom for doctors.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by KyleAAA »

Actin wrote: Thu Jun 10, 2021 2:01 pm Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
Are you implying Facebook's business model isn't attractive?
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Oenophileangler »

As a physician who despises social media, I quickly trashed the email I got from Doximity. I am a member, but only to read some of the interesting articles that Dox links to. After reading this thread, I un-trashed the email, and replied to it. As one might guess, I am not an active participant, so I am likely very low on the totem pole at Dox. So, they may throw me a bone, offer me one share at $45, and in a year, it might be worth $80.

To think that Bogleheads is like the neighborhood shoeshine; it is offering me a hot stock tip!
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by kxl19 »

Tingting1013 wrote: Mon Jun 07, 2021 8:52 pm
neurosphere wrote: Mon Jun 07, 2021 8:50 pm
Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
Thanks for the helpful links!

Regarding your comment about flipping for a profit on the opening day...does that mean that, in general, others buying into the IPO will NOT have this same strategy? That is, that I will flip for a profit because the other investors don't realize they should do the same? Or, if they DO realize they should do this, that I will do it before they do it? :confused
Before the offering is public only a handful of institutional investors (and in this case a few thousand MDs) will have had the chance to buy in.

As soon as the stock goes public the entire world has the opportunity to buy. For a hot stock, even if every one of the initial investors sells all their shares on the first day (which won’t happen), the stock can still pop due to interest from the rest of the market.
I've been thru the IPO process. Companies can reserve % for family, friends, employees at the IPO price. Great deal if you think the IPO will go well. Employees and institutional investors will typically have a 90-day lockup.

I've followed doximity for years (wife is also MD) - they've pivoted away from their original concept of MD social network, and I think they're making more money in the telemedicine services platform (software that enables tele visits) .
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Oenophileangler »

I've followed doximity for years (wife is also MD) - they've pivoted away from their original concept of MD social network, and I think they're making more money in the telemedicine services platform (software that enables tele visits) .
Yes, my snide post notwithstanding, Doximity is doing more telemedicine. But there is fierce competition with Teledoc and AMWL. Not to mention "standard" health insurers. Doximity also is a leading middle man for Medical jobs, like Linkedin. As mentioned in a post above, it's Facebook + Zoom + Linkedin.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by lobsterman2112 »

neurosphere wrote: Mon Jun 07, 2021 8:23 pm[...]
I don't believe in investing in individual stocks. If I could predict which stocks would do better than others I wouldn't be on BH and instead I'd be a gazillionaire. But I am interested in educating myself.

In addition, I'm very much worried that thousands of physicians received the same email

Some questions:

-- Is it typical for companies to solicit small-dollar amounts? Does this suggest that the "big money" is not interested?
-- Could this be more of a marketing campaign than any true attempt to solicit funds for an IPO? I suppose there is no real distinction, in that the final pathway is simply to increase the money that Doximity receives, by whatever means necessary.
-- I'll admit a lack of both experience and knowledge in pre-IPO companies and solicitations. Given that this $5000 "reservation" does not come with an obligation, is there any way possible this some sort of special opportunity? I suspect not. Once the IPO price is set, who the heck knows whether that IPO share price is a good deal or not? Doesn't it simply come down to any other decision about any particular company at any particular price?
-- btw, here is a link to an FAQ page they sent me in the email: https://www.doximity.com/dsp_program/fa ... ximity-eda
FYI: I'm a physician who is registered with Doximity. I initially registered so I can use their Dialer so my personal cell number is not revealed to my patients when I call them; they get my office number.

I've used the dialer may five times in the last five years. I've logged onto their social media platform about the same number of times.

Even I was sent the email regarding IPO shares.

I think they're using it to get physicians to log in more before they IPO. They would then use that data to say they have a much higher "physician engagement" percentage than current, making them more interesting to advertisers. This would potentially be considered stock manipulation, as well.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by nedsaid »

neurosphere wrote: Mon Jun 07, 2021 8:57 pm Ok, literally as an educational experience, I just pre-registered for the option buy $5000 in shares. They are going to let me know later if I registered in time, relative to others, to participate.
Good for you. Everyone should take a flyer at least once in their lives. From reading the thread it sounds like it has a good chance for success. In any case, it is probably a small part of your net worth and long term it probably won't affect you much one way or the other unless the stock is a big success. This is probably not the next Facebook but you have bought something better than a lottery ticket and you can follow the Doximity story with great interest.
A fool and his money are good for business.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by neurosphere »

nedsaid wrote: Fri Jun 11, 2021 12:01 pm
neurosphere wrote: Mon Jun 07, 2021 8:57 pm Ok, literally as an educational experience, I just pre-registered for the option buy $5000 in shares. They are going to let me know later if I registered in time, relative to others, to participate.
Good for you. Everyone should take a flyer at least once in their lives. From reading the thread it sounds like it has a good chance for success. In any case, it is probably a small part of your net worth and long term it probably won't affect you much one way or the other unless the stock is a big success. This is probably not the next Facebook but you have bought something better than a lottery ticket and you can follow the Doximity story with great interest.
Yes, not a substantial part of my net worth. I'm not willing to lose more than $1000 for this learning experience, but as someone mentioned upthread, I'm unlikely to lose a substantial part of the investment, and a taxable loss mitigates the downside a bit. Although during a 6 month lockout, anything could happen.

I was forced to open a Fidelity brokerage account. I already have my solo 401k there, and I already have a login/password and I already get junk mail and email solicitations from them (as well as periodic calls attempting to get me to partner with a Fidelity financial planner), otherwise I would not have opened a brokerage account with them.
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes".
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neurosphere
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by neurosphere »

Oenophileangler wrote: Fri Jun 11, 2021 9:36 am
I've followed doximity for years (wife is also MD) - they've pivoted away from their original concept of MD social network, and I think they're making more money in the telemedicine services platform (software that enables tele visits) .
Yes, my snide post notwithstanding, Doximity is doing more telemedicine. But there is fierce competition with Teledoc and AMWL. Not to mention "standard" health insurers. Doximity also is a leading middle man for Medical jobs, like Linkedin. As mentioned in a post above, it's Facebook + Zoom + Linkedin.
It's also a substantial source of unwanted email. "Dr. Neurosphere, your publication was cited in..." (so what?) or "Dr. Neurosphere, you were mentioned in news article x" (yes I know, I was interviewed for that piece and you don't need to inform me, lol).
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes".
withrye
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by withrye »

neurosphere wrote: Fri Jun 11, 2021 12:10 pm
nedsaid wrote: Fri Jun 11, 2021 12:01 pm
neurosphere wrote: Mon Jun 07, 2021 8:57 pm Ok, literally as an educational experience, I just pre-registered for the option buy $5000 in shares. They are going to let me know later if I registered in time, relative to others, to participate.
Good for you. Everyone should take a flyer at least once in their lives. From reading the thread it sounds like it has a good chance for success. In any case, it is probably a small part of your net worth and long term it probably won't affect you much one way or the other unless the stock is a big success. This is probably not the next Facebook but you have bought something better than a lottery ticket and you can follow the Doximity story with great interest.
Yes, not a substantial part of my net worth. I'm not willing to lose more than $1000 for this learning experience, but as someone mentioned upthread, I'm unlikely to lose a substantial part of the investment, and a taxable loss mitigates the downside a bit. Although during a 6 month lockout, anything could happen.

I was forced to open a Fidelity brokerage account. I already have my solo 401k there, and I already have a login/password and I already get junk mail and email solicitations from them (as well as periodic calls attempting to get me to partner with a Fidelity financial planner), otherwise I would not have opened a brokerage account with them.
I also opened a new brokerage account with them, but saw in the drop-down that I was able to select my Roth IRA. I chose that instead; if I goofed and the account is ineligible no great loss. If it is eligible, I saved myself a little paperwork vis a vis any profits or losses from this small adventure.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by neurosphere »

lobsterman2112 wrote: Fri Jun 11, 2021 10:44 am FYI: I'm a physician who is registered with Doximity. I initially registered so I can use their Dialer so my personal cell number is not revealed to my patients when I call them; they get my office number.

I've used the dialer may five times in the last five years. I've logged onto their social media platform about the same number of times.
The dialer is essentially useless to me because just about everyone's phone company flags it as spam because it uses caller ID spoofing techniques to hide the original number. So it may get marked as spam (or as with my own personal settings) and not ring their phone at all. So none of may patients answer the phone. But if i leave a message, I don't have a callback number other than my cell or home phone. So I have to leave a message saying i'll call them back, hoping that they then listen to the message and pick up the next time. :(
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes".
arsenalfan
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by arsenalfan »

Thanks to this thread, I logged into my Doximity account for the first time since 2008.
They had auto-updated all my state licenses and latest workplace.
3 hours later I got the IPO invite.
I already have Fido accounts...TBD how much play money to put into this.
I did sell my Boeing play money (which lost 50%) - maybe I'll recycle into this.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by goblue100 »

Much like Groucho Marx, I never wanted to belong to any club that would have me as a member. I wouldn't have any IPO that I actually qualified for.
Financial planners are savers. They want us to be 95 percent confident we can finance a 30-year retirement even though there is an 82 percent probability of being dead by then. - Scott Burns
bgf
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by bgf »

Well, I guess I just found out on Bogleheads that my cousin's company is going public...
“TE OCCIDERE POSSUNT SED TE EDERE NON POSSUNT NEFAS EST"
Actin
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Actin »

KyleAAA wrote: Thu Jun 10, 2021 8:52 pm
Actin wrote: Thu Jun 10, 2021 2:01 pm Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
Are you implying Facebook's business model isn't attractive?
Selling user demographic and browsing data to advertisers and then selling targeted ads is good for Facebook, but not so much for the thousands of clones catering to a specific demographic.

Doing some research since I made that post and reading this thread tells me that its dialer pro product is essentially worthless because of poor implementation.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by KyleAAA »

Actin wrote: Fri Jun 11, 2021 9:18 pm
KyleAAA wrote: Thu Jun 10, 2021 8:52 pm
Actin wrote: Thu Jun 10, 2021 2:01 pm Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
Are you implying Facebook's business model isn't attractive?
Selling user demographic and browsing data to advertisers and then selling targeted ads is good for Facebook, but not so much for the thousands of clones catering to a specific demographic.
Why not? Plenty of companies made a lot of money doing that before facebook.
cmr79
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by cmr79 »

I use the dialer product a few times a month and used it a lot more early in the pandemic. I haven't had issues with people ignoring calls, but that might be because, even if the number gets flagged as potential spam, it still likely shows up to them with my input clinic/hospital number. It is a decent product given the cost (free).

I only occasionally open any articles from their emails and ignore all of the "colleague requests" and notifications about my publication citations, etc. I didn't get an invite for the IPO or any other communication from them about it. I wouldn't have invested anyway, but it does seem that they do have some sort of activity cutoff that I fall below.

Edited to add:
Alright, now (6/18) I've gotten it too.
Last edited by cmr79 on Fri Jun 18, 2021 4:12 pm, edited 1 time in total.
Actin
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by Actin »

KyleAAA wrote: Sat Jun 12, 2021 12:15 pm
Actin wrote: Fri Jun 11, 2021 9:18 pm
KyleAAA wrote: Thu Jun 10, 2021 8:52 pm
Actin wrote: Thu Jun 10, 2021 2:01 pm Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
Are you implying Facebook's business model isn't attractive?
Selling user demographic and browsing data to advertisers and then selling targeted ads is good for Facebook, but not so much for the thousands of clones catering to a specific demographic.
Why not? Plenty of companies made a lot of money doing that before facebook.
Have at it then. It's your money
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by BionicBillWalsh »

Actin wrote: Fri Jun 11, 2021 9:18 pm
KyleAAA wrote: Thu Jun 10, 2021 8:52 pm
Actin wrote: Thu Jun 10, 2021 2:01 pm Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
Are you implying Facebook's business model isn't attractive?
Selling user demographic and browsing data to advertisers and then selling targeted ads is good for Facebook, but not so much for the thousands of clones catering to a specific demographic.

Doing some research since I made that post and reading this thread tells me that its dialer pro product is essentially worthless because of poor implementation.
And now…Microsoft teams does it…much better than Doximity.

This company is a classic 90’s dot com flash in the pan. Buyer be warned.
Jerry Garcia: If I knew the way...I would take you home.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by unclescrooge »

alex_686 wrote: Mon Jun 07, 2021 8:47 pm
Tingting1013 wrote: Mon Jun 07, 2021 8:41 pm Looks like they are reserving 15% of the offering for users.

https://www.medpagetoday.com/special-re ... ives/92891

15% of $100M offering divided by $5k max allocation equals 3,000 MDs who could be allocated shares.

If I were you I would subscribe, with the understanding that you would likely have the opportunity to flip for a profit on the opening day.
This is on the high side. I suspect they are doing it in part to build a loyal customer base. Basic human nature to conflagrate what you own with high quality. A little odd but I doubt it is a scam.
Sounds like an encouragement to foster higher engagement in the community.
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by am »

I registered through doximity and just got an email from fidelity. How will it work after I register through fidelity? Will they allocate a certain number of shares which I am obligated to pay or do I get to choose how many shares I get at the IPO price?
oragne lovre
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by oragne lovre »

BionicBillWalsh wrote: Sat Jun 12, 2021 8:04 pm
Actin wrote: Fri Jun 11, 2021 9:18 pm
KyleAAA wrote: Thu Jun 10, 2021 8:52 pm
Actin wrote: Thu Jun 10, 2021 2:01 pm Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
Are you implying Facebook's business model isn't attractive?
Selling user demographic and browsing data to advertisers and then selling targeted ads is good for Facebook, but not so much for the thousands of clones catering to a specific demographic.

Doing some research since I made that post and reading this thread tells me that its dialer pro product is essentially worthless because of poor implementation.
And now…Microsoft teams does it…much better than Doximity.

This company is a classic 90’s dot com flash in the pan. Buyer be warned.
I am warned.

I'll check back on this company and this thread in probably one year to see how this IPO goes.
The finest, albeit the most difficult, of all human achievements is being reasonable.
am
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Re: I'm being "invited" to "pre-register" for an IPO (Doximity)

Post by am »

oragne lovre wrote: Sun Jun 13, 2021 5:09 pm
BionicBillWalsh wrote: Sat Jun 12, 2021 8:04 pm
Actin wrote: Fri Jun 11, 2021 9:18 pm
KyleAAA wrote: Thu Jun 10, 2021 8:52 pm
Actin wrote: Thu Jun 10, 2021 2:01 pm Is this just another "Facebook for x" dime a dozen clones selling your data for targeted ads or does it have a real business model?
Are you implying Facebook's business model isn't attractive?
Selling user demographic and browsing data to advertisers and then selling targeted ads is good for Facebook, but not so much for the thousands of clones catering to a specific demographic.

Doing some research since I made that post and reading this thread tells me that its dialer pro product is essentially worthless because of poor implementation.
And now…Microsoft teams does it…much better than Doximity.

This company is a classic 90’s dot com flash in the pan. Buyer be warned.
I am warned.

I'll check back on this company and this thread in probably one year to see how this IPO goes.
They had 200 mil in revenue and 80% growth from prior fiscal year. Don’t remember hearing many dot coms doing that?
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