IPO
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Yext hires new president as it looks to IPO
Yext, the company that helps businesses make sure that their location data appears correctly in search results, is announcing that Jim Steele will be joining the company full-time as president and chief revenue officer. Steele was previously on the board at Yext and was most recently at InsideSales. “I found a new younger Mark Benioff and I’m really excited,” Steele says… Read More
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SOSV, “the accelerator VC,” closes third fund at $150 million
Since the advent of accelerators, venture capitalists have competed to lock in deals with the best startups in a given batch. Entrepreneur turned investor Sean O’ Sullivan thought it would be better to develop a venture firm that owned and ran its own accelerators. Today that firm, SOSV, has closed its third fund at $150 million to back startups that are admitted to and have graduated… Read More
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Snapchat has reportedly filed confidentially for its massive IPO
Snapchat appears to be moving forward in its plans to go public early next year with the company filing confidentially for its IPO, according to a report from Reuters. In recent years, companies have begun filing confidentially for their initial public offerings well ahead of revealing their financial guts in the formal IPO process. That gives a time window between the SEC getting the… Read More
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Snapchat is reportedly looking to raise as much as $4B in its upcoming IPO
In May earlier this year, Snapchat raised around $1.8 billion in a financing round that valued it at around $18 billion — and now it looks like that valuation could double in its upcoming IPO. Bloomberg is reporting that Snapchat is looking to raise as much as $4 billion in its initial public offering that could value it as high as $35 billion. Previously, the company was reportedly… Read More
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While the IPO market roars back, venture remains leery
The IPO market is poised to make an almost complete 180° turnaround after a bleak Q1 and a very quiet summer. In contrast, venture capital investments, which had recalibrated alongside the IPO market in the second half of last year, have remained sedate, with a clear flight to quality; fewer rounds, for higher quality companies, with larger check sizes. Read More
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Snap is reportedly preparing for an IPO that could value it at $25B or higher
The Wall Street Journal is reporting that Snap — the now-parent company of Snapchat — is working on an initial public offering for as early as March that could value the company at $25 billion or higher. The company most recently raised $1.8 billion in a financing round in May this year. The company has around 150 million daily active users, and leaked documents reported by… Read More
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Twilio prices its IPO at $15 per share, above its previous target
Twilio today said it would price its initial public offering at $15 per share, which would value the company at around $1.23 billion. That would value Twilio above its previous $1 billion valuation from its last financing round. With the pricing, the company expects to raise around $150 million, with an option for another 1.5 million shares to be purchased. It’s also a higher price than… Read More
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Why unicorns falter
In early February 2016, a study of financing deals reported by The Wall Street Journal found that investors are increasingly protecting themselves from IPOs that don’t perform as expected. This fallout is a continuation of the demise of the so-called “unicorn,” a tech startup with a pre-IPO valuation of over one billion dollars. Read More
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A Year After IPO, Depressed Stock Price Not Bringing Box CEO Down
It was just about a year ago that Box finally pulled the trigger and IPOed. It was a good day by all accounts, with an IPO price of $14 that promptly went up to $23 a share. Today that price sits below $10 a share, well below that $14 launch price and light years from that heady first day close.
All that said, Box CEO Aaron Levie reports he has no regrets about going public and insists he… Read More
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Jack Dorsey Owns 24.4% of Square
Square’s newly revealed IPO filing shows that co-founder and CEO Jack Dorsey is the largest shareholder, owning 24.4% of the company. Square last raised capital at a $6 billion valuation, implying that Dorsey’s stake is worth at least $1.46 billion. We will get a better sense of what Square’s value as a public company when its expected share price range is revealed in the… Read More
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