Tag Archive | "initial-public"

Online Dating Site Zoosk Files For $100M IPO, With $178M In Revenues And A $2.6M Net Loss In 2013

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Sequoia-Backed Chinese Retailer Jumei Files For $400M U.S. IPO

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Jumei offers

Box CEO Aaron Levie Takes To Quora About His (Sorta) Small IPO Stake: It’s All Gravy

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Reporters and industry watchers go nuts when an S-1 is filed for an initial public offering because there are always a few surprises to be found while digging through the numbers. The Box IPO filing this past week was no exception. Along with details on Box’s revenue (growing quickly) and bottom line income (still in the red), the filing revealed that Aaron Levie, Box’s well-known and… Read More

Article courtesy of TechCrunch

Twitter’s IPO ‘Oversubscribed’ Despite Accelerating Losses And Growth Concerns

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Today, Bloomberg’s Sarah Frier and Serena Saitto report that Twitter’s highly anticipated initial public offering is oversubscribed, indicating booming interest for its shares as the firm looks to become a public company. Notably, Twitter had priced the shares well below expectations, all but guaranteeing an oversubscribed IPO.

The report says that the IPO had enough interest to be oversubscribed before bank involvement.

When Twitter filed its documents to go public, it was criticized by some for its extensive, and widening losses. And currently, all signs are pointing to Twitter’s revenue in calendar 2013 has expanded quickly as well. The company will raise around $1 billion in the IPO, valuing the firm at around $11 billion. Twitter plans to offer 70 million shares at $17-$20 per share. Early indications are that Twitter would price on November 6th and begin trading the day after.

At this point, Twitter now has options available to it including floating more shares or hitting above the higher end of the range when it prices next week. Losses aside, Twitter will be the hottest IPO of the year. Strap in.

Article courtesy of TechCrunch

Twitter To Offer 70M Shares In IPO, Priced At $17-$20 Per Share

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Twitter will offer 70 million shares in its Initial Public Offering, and has priced those shares at $17-$20 per share, reports Bloomberg. Twitter’s IPO pricing range was rumored to drop today, several weeks after it announced plans to go public.

More to follow…

Article courtesy of TechCrunch

Mark Zuckerberg to speak at TechCrunch Disrupt Sept. 11

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Facebook Co-Founder and CEO Mark Zuckerberg will take the stage once again at TechCrunch Disrupt in San Francisco, Sept. 11. Zuckerberg spoke at last year’s Disrupt event about mobile, the company’s initial public offering, and its efforts in search.

Much has happened since then, as Facebook launched Graph Search and Facebook Home, as well as several other mobile improvements.

Zuckerberg will speak at 2:55 p.m. on Wednesday, Sept. 11, the final day of Disrupt. While there’s no sign of exactly what he’ll discuss, between Facebook’s mobile efforts and Internet.org, there will be several potential topics.

Article courtesy of Inside Facebook

Sequoia- And Khosla-Backed Cloud Phone Company RingCentral Files For $100M IPO

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RingCentral, a company offering cloud-based phone and communication systems, has filed for an initial public offering of up to $100 million.

Incorporated all the way back in 1999, San Mateo, Calif.-based RingCentral says it saw revenue of $50.2 million in 2010, $78.9 million in 2011, and $114.5 million in 2012. However, it’s also experiencing growing losses, with net losses off $7.3 million, $13.9 million, and $35.4 million respectively.

Among the competitive advantages that RingCentral lists in the filing are its core technology, its mobile-centric approach, and its rapid release cycle. Risk factors, meanwhile, include the aforementioned losses, the reliance on third parties for network connectivity and data centers, and threats to the company’s security or IP.

RingCentral raised about $44 million in equity funding. CEO and founder Vladimir Shmumis remains the largest shareholder, with 19.6 percent of the company’s stock, followed by investors Sequoia Capital and Khosla Ventures, which have 17.2 percent and 16.7 percent respectively.

In the filing overview, the company writes:

We believe that there is a significant opportunity to leverage the benefits of cloud computing to provide next-generation, cloud-based business communications solutions that address the new realities of workforce mobility, multi-device environments and multi-channel communications, thereby enabling people to communicate the way they do business.

Article courtesy of TechCrunch

Facebook promotes Engineering VP to CTO

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mike-shroepferFacebook today named its Vice President of Engineering Mike Schroepfer to the role of chief technology officer, a position left vacant after Bret Taylor departed in summer 2012.

The announcement was made internally by CEO Mark Zuckerberg and first reported and confirmed by AllThingsD. Schroepfer will join top executives Zuckerberg, COO Sheryl Sandberg and CFO David Ebersman. There is no word on any changes with Director of Engineering Mike Vernal or Director of Mobile Engineering Cory Ondrejka, who helped lead in Taylor’s absence.

Facebook lost some directors and long-time employees in the months following its initial public offering in May 2012, but Schroepfer’s promotion helps ensure the veteran stays on to lead during the next phase of the company’s history. Schroepfer came to the company as director of engineering in 2008, after holding a VP of engineering role at Mozilla.

See this week’s other Facebook hires here.

Article courtesy of Inside Facebook

Facebook roundup: employees sell shares, anti-trust suit over Credits, Nasdaq compensation plan and more

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Facebook execs and board member sell some shares – With the end of an employee lockout this week, some top Facebook executives have sold portions of their shares. COO Sheryl Sandberg sold less than 2 percent of her shares for more than $7.4 million. Chief Accounting Officer David Spillane sold 256,000 shares, which is more than half his entire stake, raising $5.4 million, and General Counsel Ted Ullyot sold 149,075 shares, getting more than $3 million. Early investor and board member Jim Breyer sold $81 million worth of Facebook stock earlier this week. Breyer still holds more than 7.2 million Facebook shares. VP of Engineering Mike Schroepfer filed an SEC document today indicating that he is not selling any shares at this time. Facebook stock closed at $21.18 today, down nearly 9 percent from last week.

Facebook sued over Credits - Kickflip Inc., which does business as Gambit, sued Facebook this week over claims that the social network broke antitrust laws with its Credits program. Business Week says Gambit was the leading virtual currency and payment-processing provider to social game developers. Gambit claims Facebook’s decision to require Facebook Credits in 2009 destroyed a “vibrant and competitive market.” The case has been filed in federal court in Wilmington, Delaware. Facebook says the claim is “without merit.”

SEC to look more closely at Nasdaq compensation plan – The U.S. Securities and Exchange Commission has said it would extend proceedings to review Nasdaq OMX’s $62 million compensation plan following the exchange’s botched handling of Facebook’s initial public offering. Brokers say they collectively lost around $500 million because of issues on the day of the IPO, including delays in orders being put through and confirmations being returned.

FB underwriters spent millions to support stock on IPO day – Facebook’s underwriters may have spent about $66 million supporting the stock’s price on the day of the company’s initial public offering, according to a blog post by economists Thomas Eisenbach and David Lucca. The report explains how underwriters likely put in bids at $38 and $40 per share as the stock threatened to fall below the $38 offer price. This would mean underwriters spent about 40 percent of their underwriting commissions. “If this estimate is correct,” the economists say, “underwriters’ reputational concerns and obligations to the firm may have outweighed their short-run profit motive.”

Article courtesy of Inside Facebook

So Far So Good For Eloqua IPO – Shares Up 13% In First Day of Trading

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The marketing automation sector is one of the fastest growing in the burgeoning enterprise space. We see proof of this today with Eloqua’s initial public offering (HPO).

The stock opened at $12.02 per share on the NASDAQ for the SaaS provider of performance management technology. It was up 12.92% in trading  from its $11.50 original stock price. The company sold eight million shares. It had a price range of $10-to-$12 per share.

Eloqua is halfway through its fiscal year. In 2011 the company had revenues of $71.3 million, up 40%. In 2011, the company has 327 employees. That’s up 15% compared to 2010.ffer as a software as a service (SaaS).

According to WSJ, Eloqua’s revenue increased 42% to $45 million this year, although the company reported a net loss of $5.5 million, compared with a loss of $3.5 million in the first half of the prior year.

The marketing automation space is highly competitive. Eloqua faces competing from giants like IBM and Oracle. Newer players such as Marketo and Pardot are also considered as competitors.

Article courtesy of TechCrunch

April 2014
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