Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.
After pricing its IPO $1 ahead of its proposed range at $21 per share, the company closed its first day’s trading worth $34.00, up 61.9%, according to Yahoo Finance.
Whether you feel that this SaaS player was worth the revenue multiple its original, $8 billion valuation dictated — let alone that same multiple times 1.6x — the message from the offering was clear: the IPO window is open.
The company hopes to go public for as much as $1.9 billion, a modest uptick from its final private valuations.
Vroom is more of a question, but if it does price strongly we’ll know public investors are looking for any piece of growth they can find.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
In 2018, 82% of businesses that went under did so because of cash flow problems.
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