NerdWallet soars 91% in IPO debut, valuing the personal finance website at $2 billion

NerdWallet, the personal finance website founded in 2009, soared as much as 91% in its IPO trading debut on Thursday. The company┬ápriced its IPO at $18 per share, in the middle of its expected $17-$19 per share range, giving it a…

$1.2 billion valuation. But with Thursday’s surge, the company saw its valuation hit more than $2 billion.

The company trades on the Nasdaq under the ticker symbol “NRDS.”

NerdWallet raised $130.5 million from the share offering, having sold 7.25 million shares. The company recorded $182 million in revenue in the first six months of 2021, representing year-over-year growth of 32%. And rare for most IPO companies, NerdWallet has been profitable in the past, generating $5 million in net income in 2020.

But rising marketing costs caused NerdWallet to swing to a loss of $27 million in the first six months of 2021 from income of…

 

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