Tesla`s Convertible Bonds

Snowflake IPO: A Rebound for the US Stock Market
Case Code: FINC179
Case Length: 10 Pages
Period: -
Pub Date: 2021
Teaching Note: Available
Price: Rs.300
Organization: Tesla, Inc.
Industry: Automotive
Countries: United States
Themes: Convertible Bonds, Debt Instruments
Snowflake IPO: A Rebound for the US Stock Market
Abstract Case Intro 1 Case Intro 2 Excerpts

A Note on Tesla

Tesla was known for its electric vehicles and solar energy products (solar roof, solar panels). The company was started by engineers EMartin Eberhard and Marc Tarpenning on July 1, 2003, as Tesla Motors. In February 2004, the company went in for ‘Series A’ funding of US$7.5 million from various investors. Elon Musk (Musk), a serial entrepreneur, led the funding round with a US$6.5 million investment. The investment helped Musk become chairman of the board of directors. In the subsequent round of funding, Musk topped the investors’ list with an investment of US$13 million in 2005 and US$40 million in 2007. In 2006, Tesla came up with a prototype of the Roadster, Tesla’s first all-electric car. In December 2007, Ze’ev Drori (Drori) became the CEO of the company and decided to reduce the number of employees by 10% to cut costs..

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