The third largest IPO of this year was born. Investment news, last night (December 9), Latin America's largest fintech unicorn Nubank debuted on the NYSE with an opening price of $11.25, up 25%. At the close, the company's stock price was $10.33, up 14.78%, with a market capitalization of $47.6 billion (about RMB 300 billion). Nubank's story began with a bad banking account opening experience, and founder David Vélez was a former partner at Sequoia Capital. In 2011, David went to Brazil to conduct Sequoia's investment business in Latin America. During this time, he had an account opening experience in Brazil that lasted for six months, which made him see an opportunity. When Sequoia Capital closed its operations in Brazil, he stayed behind to start Nubank and launched the first online credit card service in 2014. Since then, it has gained nearly 50 million users and has been called the "Card King". To challenge traditional banks, David relied on the support of a group of comrades. Since its establishment, David's former employer, Sequoia Capital, has participated in almost every early round of financing for Nubank, totaling at least seven times; and global institutions such as Tencent Investment, DST, Tiger Global, and GIC have entered the game. In early 2021, investment guru Warren Buffett invested $500 million, once again causing a sensation for Nubank. There is no doubt that Nubank has created a venture capital myth in Latin America. And through the growth of this unicorn, investors see a pleasing scene - from Latin America to Southeast Asia, India, Africa, emerging markets are mass producing internet unicorns. They seem to be repeating the path of China's new economy over the past twenty years...