The line at the exit gates is growing. As Barron’s noted in this week’s Tech Trader column, a flurry of technology companies filed paperwork with the Securities and Exchange Commission last week for initial public offerings. Within a few days of each other, there were filings for…
Corsair Gaming, Palantir, Bentley Systems, Unity Software, Snowflake, Sumo Logic, Asana, and JFrog. Meanwhile, the financial-services giant Ant Group is going public in Hong Kong and China, and both DoorDash and Airbnb are expected to file for offerings in the coming weeks.
The new deal flow remains strong. Here are a few more initial offerings in various stages of development:
Wish, an online retailer that sells a range of lower-priced goods, announced Tuesday that it has filed confidentiality with the SEC for an initial offering. Wish, which has raised $1.4 billion in venture capital, has been valued as high as $11.2 billion, according to CB Insights. Investors include Founders Fund, GGV Capital, Digital Sky Technologies, and General Atlantic.
GoodRx, which provides an app to help consumers comparison-shop for prescription medications, late Friday filed for an IPO to be led by Morgan Stanley, Goldman Sachs, J.P. Morgan, and Barclays. Investors include Silver Lake, Francisco Partners, and Spectrum Equity. The company had 2019 revenue of $388.2 million, up 56% from the previous year—generating net income of $66.1 million. (The strong profits make GoodRx standout from the pack, most of which are losing money.) For the first six months of 2020, revenue was $256.7 million, up 48%. Profits were $54.7 million.
The dating app Bumble plans an IPO for early 2021, according to Bloomberg. The company, which is majority-owned by Blackstone Group, reportedly could seek a valuation of $6 billion to $8 billion. Neither Bumble or Blackstone is commenting.
Thryv Holdings, a Yellow Pages publisher and cloud-based marketing services company, on Wednesday filed for a direct listing on Nasdaq. The company plans to list on Nasdaq under the symbol THRY. The company is the result of a 2017 merger between Dex Media, a Yellow Pages publisher that filed for chapter 11 bankruptcy protection in 2016, and YP Holdings, another Yellow Pages publisher, which owns the yp.com website. The company is controlled by Mudrick Capital, a distressed-debt investor that had been a Dex Media creditor. This won’t be the first postbankruptcy company to do a direct listing— iHeartMedia (IHRT) took the same route after emerging from bankruptcy.
Laird Superfood, a producer of plant-based food products, filed for an IPO on Monday. The company, which makes…
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