Databricks IPO: About the Business

The creators of Apache Spark, Delta Lake and MLflow co-founded Databricks in 2013. Headquartered in San Francisco, California, Databricks is an artificial intelligence (AI)-powered data analytics company.

It pioneered the idea of “lakehouse” architecture in the cloud. This combines data “lakes,” large amounts of raw data, with “warehouses,” organized structures of processed data.

The Lakehouse platform helps enterprises manage their data using an open and unified platform for data and AI. The new method for storing, analyzing and choosing information may put an end to the old data warehouse, according to supporters. This is a big deal since data warehouses have been central to corporate IT portfolios for more than three decades.

Databricks operates in over 12 countries worldwide with an international reach of more than 5,000 organizations. Additionally, the company maintains partnerships with more than 450 international firms that provide services on the Databricks Lakehouse Platform.

Over 40% of the Fortune 500 use Databricks’ platform. Seeing a company supported by so many renowned investors and enterprises is rare. And the company is on track to keep growing in 2022.

Databricks on Track to Reach $1 Billion in Revenue in 2022

The past two years have been huge for tech companies as many businesses moved online. And Databricks benefited as well. In 2020, Databricks passed $425 million in annual recurring revenue, a year-over-year (YOY) growth of more than 75%. Furthermore, in 2021, annual recurring revenue jumped even more to $800 million.

According to reports, the COVID-19 pandemic heightened companies’ interest in cloud-based analytics. This is proving to be true with the company on track to continue its growth and reach $1 billion in revenue for 2022. Pete Sonsini, who joined Databricks’ board in 2014, said companies rushed to analyze their data in the cloud…

They definitely accelerated through the pandemic… We invested in Databricks when they had zero software revenue, and they’re going to do about $1 billion in GAAP revenue next year… Could be more.

Yet, prospective speculators interested in the Databricks IPO will want to learn more about the margins associated with that figure. So far, no details have come out. However, the company recently landed a $38 billion valuation. The figure is leads investors to believe a Databricks IPO could be coming soon.

Databricks Lands $38 Billion Valuation

At the end of August, Databricks announced that it raised $1.6 billion in a Series H round. The funding round gave the company a staggering $38 billion valuation, making it one of the highest valued private companies. This valuation came just seven months after a $1 billion Series G funding round that landed Databricks a $28 billion valuation.

Databricks’ most recent fiscal year ended in September 2021 with revenues of $425 million. This represents a YOY increase of over 75%. However, in Databricks doesn’t release profitability figures. So, it’s unknown if the company is profitable and any figures that might exist for profitability are purely speculative.

After the recent funding round landed Databricks a $38 billion valuation, Ali Ghodsi, co-founder and CEO, said…

This new investment is a reflection of the rapid adoption and incredible customer demand we’re seeing for the Databricks Lakehouse Platform and underscores the industry and investor confidence in our vision – that lakehouse is the data architecture of the future… This marks a thrilling new chapter that will allow us to accelerate our pace of innovation and further invest in the success of data-driven organizations on their journey to the lakehouse.

The company has raised almost $3.6 billion in funding from investors. Furthermore, the company receives backing from all four major cloud providers: Amazon (Nasdaq: AMZN), Microsoft (Nasdaq: MSFT), Alphabet (Nasdaq: GOOG) and Salesforce (NYSE: CRM). Moreover, the latest capital raise has investors on the lookout for the Databricks IPO.

So, how much could the company raise in the Databricks IPO? Let’s look at the filing details…

Databricks IPO Filing Details

Investors are on the edge of their seats for a Databricks IPO. Furthermore, while an IPO isn’t official, it’s rumored to be taking place in 2022. Ghodsi tried to end speculation sparked by the funding round by stating the latest money raise “does not push out the IPO,” according to Reuters.

However, Ghodsi hinted toward going public in a February interview with CNBC. At the time, Ghodsi didn’t disclose if the Databricks IPO will come via a traditional IPO route or a direct listing. However, he hinted that the company was considering going public via direct listing. This news came after the SEC’s new rule that allows companies to raise funds while direct listing.

However, Ghodsi was quick to argue that a traditional IPO has one big benefit. It would allow the company to choose its new shareholders. Since the company is looking for long-term investors, this could be the more beneficial approach.

In summary, how investors could get Databricks stock is still unknown. However, Ghodsi did say definitively that the company will not go public via a SPAC.

Furthermore, in a more recent August interview with Protocol, Ghodsi said…

We’re going public six months at a time… Usually when you IPO, you want to make sure you are getting the long-term investors … [and] we’re basically allocating the big blocks of allocations to the big mutual funds and other investors right now.

Many people are comparing Databricks to Snowflake Inc. (NYSE: SNOW), which was the biggest software IPO in history when it went public in 2020. If the comparisons are to be believed, then a Databricks IPO will definitely be an exciting one to look out for.

It’s been awhile since Ghodsi gave an update on the Databricks IPO. However, we can expect to hear more news on Databricks stock soon.

Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.

The post Databricks IPO: Updates From the AI-Driven Data Giant appeared first on Investment U.

Cohesity IPO: About the Business

Cohesity is a leading data management provider led by a former Google engineer. The company simplifies data management for modern enterprises. Additionally, it says its products can simplify backup and recovery and defend against cybersecurity threats.

On the company website, Mohit Aron, founder and former CEO of Cohesity, says…

At Cohesity, we believe that simplicity is the foundation of modern data management. Our mission is to radically simplify how organizations manage their data and unlock limitless value.

Based in San Jose, California, Cohesity offers a product suite called Helios. Organizations can manage their data across a public cloud, edge or on-premises infrastructure with the unified platform. Furthermore, the Helios platform provides companies with a comprehensive range of data management services. It helps companies consolidate multiple functions on one platform…

• Backup and Recovery
• Files and Objects
• Disaster Recovery
• Data Security and Governance
• Development and Test
• Analytics and Insights

Moreover, Cohesity offers other products in addition to the Helios platform…

• SaaS – Helps a company to protect, secure, govern and analyze data with data management as a service.
• DataProtect – Allows customers to simplify data protection, ensure recovery and defend against ransomware.
• SmartFiles – Provides customers with software-defined file and object services with next-level intelligence, scalability and efficiency.
• SiteContinuity – Provides Automated disaster recovery failover and failback orchestration.
• Marketplace – Allows customers to run applications from Cohesity. Additionally, it allows third parties to operate directly on the Helios platform.

In September 2021, the company said that about 2,600 customers use its products. Cohesity disclosed at the time that these customers include nearly a quarter of the Fortune 500. Cohesity clients include the U.S. Air Force, Cisco and NASA.

Cohesity’s finances show that the company is growing rapidly. So, let’s look at the highlights…

Cohesity Financial Data Shows Record-Breaking Performance

In September 2021, Cohesity disclosed that it shattered previous performance records for Fiscal 2021. In the report, the company highlighted record-breaking results…

Subscription Business: Cohesity’s annual revenue run rate surpassed $300 million during the quarter ended July 31. Additionally, the figure is partly due to the company’s 70% increase in year-over-year annual recurring revenue.

Net Expansion Rate: Cohesity’s rate of net expansion increased 130% for fiscal 2021. This figure is due to the annual recurring revenue of Cohesity customers growing more than 30% in the last year.

Customer Growth: Cohesity saw a 40% increase in customers in fiscal 2021. Furthermore, Cohesity saw rapid adoption in the Americas, EMEA and the Asia Pacific regions. As previously mentioned, nearly 25% of Fortune 500 companies do business with Cohesity. This is a 35% increase from 2020.

Robert O’Donovan, the Chief Financial Officer of Cohesity, said…

In Q4, we had our biggest day, week, month and quarter, all resulting in our biggest year… From rapidly increasing ARR, to an outstanding net expansion rate, to strong customer growth — including impressive gains in the Fortune 500, the company is firing on all cylinders and breaking records at every turn.

Cohesity has raised a total of $650 million from investors. Furthermore, the company is backed by industry giants including SoftBank, Foundation and Sequoia Capital. So, how much will the company raise in the Cohesity IPO? Let’s look at the filing details…

Cohesity IPO Filing Details

The company announced that a Cohesity IPO was in the works in December 2021. The company has submitted paperwork to the Securities and Exchange Commission (SEC).

​​The filing is confidential. In other words, the IPO date, price range and offer shares are unknown. Additionally, the company didn’t announce a market or ticker symbol. You can learn more about the IPO process in this step-by-step guide to going public.

Bloomberg reports that Cohesity IPO could land the company a valuation between $5 billion and $10 billion. The figure is far higher than the $3.7 billion private valuation Cohesity received in March.

Cohesity has hired JPMorgan and Morgan Stanley to assist it with the initial public offering.

Additionally, If you’re interested in other investment opportunities in the tech industry, check out Samsara and HashiCorp. Both companies recently filed with the SEC to go public.

Nevertheless, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Also, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.

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OpenSea IPO: About the Business

OpenSea is the world’s first and largest NFT marketplace. The company launched in 2017 and has 70 employees. Currently, OpenSea offers over 80 million non-fungible tokens (NFTs) to over 600,000 users.

As early NFT adopter communities formed on Discord, Devin Finzer and Alex Atallah became fascinated with the movement. However, they noticed that exchanging digital collectibles online was unreliable and risky. The two launched OpenSea in January 2018, creating the first open marketplace for NFTs on the Ethereum blockchain. Through the platform, users from all over the world can exchange assets on the blockchain without needing to rely on third parties or trust each other.

Today, OpenSea is the largest marketplace for NFTs, rare digital items and crypto collectibles. OpenSea contains more than just digital art. In addition, users can browse through collectibles, game items, domain names and even digital representations of physical assets. To make things easier… Think of OpenSea as an eBay for digital objects and collectibles.

Andreessen Horowitz, Coinbase, Dapper and other top firms back OpenSea. Additionally, other industry leaders support OpenSea, including Mark Cuban and Alexis Ohanian. OpenSea reached unicorn status after these industry giants helped it reach a valuation of more than $1 billion. Let’s take a look at the finances…

Financing Rounds for OpenSea

Opensea’s most recent funding round landed the company a $1.5 billion valuation in July. Andreessen Horowitz led the Series B funding round, including participation from angel investor Michael Ovitz and actor-investor Ashton Kutcher.

In response, OpenSea’s CEO Devin Finzer said…

The fundraise is really all around bringing widespread adoption to NFTs… And it’s about growing the platform that we’ve built, which has seen significant volume growth over the last the first half of the year. We think NFTs are really one of those once every couple-of-decades paradigm shifts that is just incredibly exciting.

The funding for OpenSea reflects the changes in the internet economy and the adoption of digital tokens. To give an example, OpenSea recorded over $3.4 billion in NFT trading volume in August 2021. For reference, the number is more than ten times the volume for July.

Furthermore, OpenSea is already talking with investors about raising more funds, according to Bloomberg. According to sources familiar with the discussions, investors plan on pouring at least $1 billion into the company. The funding could land the company a valuation of over $12 billion. To prepare, OpenSea hired its first CFO.

Brian Roberts Hints Toward OpenSea IPO

Brian Roberts has become the first CFO of OpenSea. The tech veteran is leaving Lyft after leading the ride-share company through a public debut in 2019. Roberts expressed his excitement for OpenSea’s future, saying that the growth of web 3 companies and OpenSea’s marketplace for NFTs made it an easy choice.

“I haven’t been this excited about something in a very long time,” Roberts said. “It reminds me of 1995 eBay.”

Furthermore, it seems he has similar plans to take OpenSea public. The CFO hinted at first steps toward the OpenSea IPO in a December Bloomberg report.

According to Roberts, OpenSea is already profitable. However, going public would help the company to acquire companies, strike partnerships and create joint ventures. These measures would help OpenSea expand into new industries, Roberts said.

Roberts mentioned that OpenSea’s profitability makes it an easy decision to list the company. Bloomberg reported that while he feels it’s “day one” for the NFT industry and OpenSea, he’s already planning its IPO.

I’ve seen a lot of P&Ls (profit and loss statements) but I’ve never seen a P&L like this… When you have a company growing as fast as this one, you’d be foolish not to think about it going public. It would be well-received in the public market given its growth.

However, the cryptocurrency community expressed its distaste with an OpenSea IPO…

Community Backlash Following Talks of OpenSea IPO

OpenSea users expressed their distaste after Rogers told Bloomberg that it would be foolish not to think about going public.

As a result of the cryptocurrency community’s backlash, the NFT marketplace denied plans for the OpenSea IPO.

Most users said they would prefer digital assets rather than taking the traditional financial route. Many users see the OpenSea IPO as a sellout to large institutional investors. Some users went on Twitter to complain that the company was more invested in venture capitalists’ interests than the community that drove its success.

The discussion even included replacing OpenSea with a more “community minded” and “decentralized” platform.” In response, Roberts tweeted that talk of the OpenSea IPO was misunderstood…

There was inaccurate reporting about @OpenSea’s plans. Let me set the record straight: there is a big gap between thinking about what an IPO might eventually look like & actively planning one.

He added the firm is not planning an IPO, but should one occur, it would involve the community in the process.

While the OpenSea IPO isn’t coming in the near future, you can check out this list of NFT stocks to capitalize off the digital craze.

As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.

The post OpenSea IPO: Is the Top NFT Marketplace Going Public? appeared first on Investment U.

Samsara IPO: About the Business

Samsara is a developer of end-to-end Internet of Things solutions for businesses. The company provides fleet monitoring and management software to vehicle operators.

Samsara began with a mission to increase the safety, efficiency and sustainability of the operations that power the global economy. For this purpose, the San Francisco-based company developed a cloud-based platform to provide software solutions that improve safety and efficiency.

Samsara offers sensors and cameras to generate data into actionable insights on operational assets like delivery vehicles, fleets of construction trucks and physical locations. The company collects 1.6 trillion data points annually.

This includes insight on video footage, people and motion detection, GPS location, energy consumption, asset utilization, compliance logs, accelerometer data and engine diagnostics.

For example, using the Connected Operations Cloud, Samsara can record data such as truck fuel use and video of speeding delivery drivers. Then, it can provide customers with analytics, alerts and reports.

Samsara Product Offerings

The company’s product offerings include…

• The Connected Operations Cloud – Centralized operations data on a unified platform
• Apps & Driver Workflows – Messaging, dispatch, documents, ELD
• Video-Based Safety – AI cameras, driver coaching, safety reports, in-cab alerts
• Equipment Monitoring – Location tracking, utilization, continuous diagnostics
• Vehicle Telematics – Real-time GPS, routing, fuel, maintenance, electrification
• Site Visibility – Remote visibility, proactive alerting, on-the-go access
• App Marketplace – Install turnkey integrations

The company uses its data to develop actionable business insights. In 2020, Samsara processed more than 38 billion minutes of video. Now, the platform makes over one billion AI-based detections annually.

Samsara claims that improvements in operations based on data from its products can lead to increased profitability and revenue generation for its clients over time. So, let’s look at the company’s finances in the Samsara IPO filing…

Samsara IPO: About the Finances

Detailed financial information is in the Samsara IPO prospectus, allowing you to gain more insight into the company’s finances. Furthermore, if you’re in the market for IOT stock, let’s look at the details.

Samsara highlights some key information for investors. The company’s profit and loss statement and balance sheet data are as follows…

Revenue: Samsara has grown its total revenue. Samsara’s revenue nearly doubled from $249.9 million in fiscal 2021 to $428.3 million in fiscal 2022. Furthermore, revenue for Q4 2021 and Q4 2022 was $75.9 million and $125.8 million – representing year-over-year growth of 66%.

Net Income (Loss): Samsara has incurred losses since it began. Samsara incurred net losses of $210 million in fiscal 2021 and $335 million in fiscal 2022. Losses were $38.4 million and $71 million for the three months ended May 1, 2021 and April 30, 2022. Furthermore, the company warned that it expects to incur more losses in the foreseeable future.

Total Assets and Liabilities: Samsara’s total assets grew from $631 million in February 2020 to $1.57 billion as of January 2022. Furthermore, Samsara’s total liabilities have grown. In January 2021, total liabilities stood at $470.4 million. However, a year later, they grew to $578.9 million.

Cash: Samsara’s cash flows recently are growing. The company recorded $201.1 million in cash in February 2020. A year later, cash grew to $400 million. And another year later cash has more than doubled to $921.2 million.

Samsara received at least $930 million in funding from investors. During a funding round in 2020, Samsara secured a $5.4 billion valuation. So, let’s see how much the Samsara IPO will raised…

Samsara IPO to Trade Under IOT Ticker

Samsara filed on November 19 and set its terms on December 6. The company began trading on December 15. Samsara will trade on the New York Stock Exchange (NYSE) under the ticker IOT.

Samsara offered 35 million shares of common stock. Shares were priced around $23 per share. Samsara ended up raising $805 million in its IPO, which was at the high end of the price predictions.

This landed the company over a $12 billion valuation immediately after its public debut.

Morgan Stanley, Goldman Sachs and JP Morgan lead the Samsara IPO.

If you’re looking for other recent tech debutants, you can check out the HashiCorp IPO here. The company is a cloud infrastructure management solutions company that just made its public debut. Moreover, Stripe and Chime are two popular tech companies that hinted at going public soon.

As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.

The post Samsara IPO: What Investors Should Know About IOT Stock appeared first on Investment U.

HashiCorp IPO: About the Business

HashiCorp develops cloud infrastructure management software. The company offers solutions that provide a consistent cloud operating model that can build, secure, connect and deploy any infrastructure for any application. Since its founding, all the company’s core technologies are free to download.

Today, HashiCorp has nine open-source tools in its portfolio. This includes…

• Infrastructure
  • Terraform, Multi-Cloud Infrastructure
  • Packer, Multi-Cloud Image Automator
• Networking
  • Consul, Multi-Cloud Networking
• Security
  • Boundary, Identity Access Management (IAM) Tool
  • Vault, Multi-Cloud Security Tool
• Applications
  • Vagrant, Multi-Cloud Virtual Software Tool
  • Nomad, Multi-Cloud Orchestration
  • Waypoint, Developer Application Tool
  • Sentinel, Code Framework for HashiCorp Enterprise Products

These tools are available as free, open-source services geared toward individual developers or start-ups. The company also offers enterprise editions of these tools that come with additional features.

HashiCorp is a leading provider of multi-cloud infrastructure automation. The company helps developers manage their cloud infrastructure across major public clouds, including Amazon, Microsoft and Google.

HashiCorp sees this as a massive opportunity. Armon Dadgar, co-founder and CTO of HashiCorp, said…

It took these big enterprises five years just to be comfortable with the idea of public clouds, but they got there, and they started that migration. But most of these folks, they don’t have enough operational staff with the experience to run these services at scale, and even if they did, those people are best spent focusing on other business value rather than operating infrastructure.

HashiCorp works with SaaS vendors, enterprise software companies, cloud service providers, game developers, mobile app developers and IT support organizations. So, how has the pandemic affected the company?

HashiCorp IPO is Strong Despite COVID-19

While the effects of the pandemic harmed business all around, HashiCorp escaped the worst of it. Moreover, the company already favored operating “remote-first” before the impacts of the pandemic hit.

Furthermore, HashiCorp’s systems are set up to operate without people in the offices. Because of this, the company was able to function through the shutdowns with little impact.

The company used COVID-19 as an opportunity to offer critical services on a scale like never before. The company made several efforts to remove the operational and economic burden that IT operations teams faced working remotely. This included offering its Terraform Cloud’s Team & Governance features at no cost for organizations providing COVID-19 aid and assistance.

HashiCorp’s finances reveal the company’s growth. However, the HashiCorp IPO filing revealed consistent losses. Let’s take a look…

HashiCorp Finances Reveal Growing Revenue and Consistent Losses

Detailed financial information is in the HashiCorp IPO prospectus, allowing you to gain more insight into the company’s finances. Furthermore, if you’re in the market for HCP stock, let’s look at the details.

HashiCorp highlights some key information for investors. The company’s profit and loss statement and balance sheet data are as follows…

Revenue: HashiCorp has grown its total revenue. For the 2019 fiscal year, HashiCorp recorded $121.3 million in total revenue. In 2020, total revenue grew to $211.9 million. Furthermore, for the nine months ended October 2021, total revenue stands at $224.2 million.

Net Income (Loss): HashiCorp has reported consistent losses. The company recorded $53.4 million and $83.5 million for the 2019 and 2020 fiscal years. For the nine months ended October 2021, net losses stand at $62.4 million.

Total Assets and Liabilities: HashiCorp’s total assets grew from $253.1 million in January 2020 to $445.3 million in January 2021. However, as of October 2021, HashiCorp’s total assets went down to $418.9 million. Furthermore, HashiCorp’s total liabilities have grown. In January 2020, total liabilities stood at $159 million. However, by October 2021, they grew to $245.9 million.

Cash: HashiCorp’s cash flows recently dropped. The company recorded $110.5 million in cash as of January 2020. A year later, cash grew to $270.8 million. However, as of October 2021, HashiCorp has $218.2 million in cash.

The unicorn’s last valuation stood at $5.1 billion in 2020. After all, the company is well-positioned to take advantage of the booming IPO market this year. Let’s see how much the HashiCorp IPO can raise…

HashiCorp IPO to Trade Under HCP Ticker

HashiCorp filed on November 4 and set its terms on November 29. The company will begin trading on December 9. HashiCorp will trade on the Nasdaq exchange under the ticker HCP.

The HashiCorp IPO could raise up to $1.1 billion. The company is offering 15.3 million shares of common stock priced at $68 to $72 per share. Underwriters are able to purchase an additional 2.3 million shares.

At the midpoint of the proposed range, HashiCorp would command a fully diluted market value of $14.2 billion. Furthermore, HashiCorp’s IPO pricing could give it one of the richest valuations of any technology company.

Morgan Stanley, Goldman Sachs and JP Morgan are leading the HashiCorp IPO.

While HashiCorp hasn’t hit the market yet, you can check out the top tech IPOs of 2021 here. Moreover, Stripe and Rivian are two popular companies that hinted at going public soon.

As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.

The post HashiCorp IPO: What Investors Should Know About HCP Stock appeared first on Investment U.

Buzzfeed SPAC IPO: About the Business

BuzzFeed is the world’s leading independent digital media company. The company has its headquarters in New York with an entertainment studio in Los Angeles. From its start in 2006, BuzzFeed has been one of the most influential digital media companies. The company has built a reputation for its funny memes, listicles and other interesting content.

It has a portfolio of many platforms and networks aimed at millennials and Gen-Zers. BuzzFeed’s cross-platform network includes…

• BuzzFeed Originals
• BuzzFeed Media Brands, which comprises a portfolio of brands including…
  • Nifty
  • Goodful
  • As/Is
  • Tasty, the world’s largest social food network
• BuzzFeed News
• HuffPost
• BuzzFeed Commerce

The platform is known for its massive scale audience engagement. Across the globe, BuzzFeed’s content reaches hundreds of millions of people.

After all, the company’s latest funding round in 2016 landed the company a $1.7 billion valuation. So, let’s take a look at the company’s finances…

Buzzfeed IPO: A Look at the Finances

In the wake of BuzzFeed’s IPO news, the company released an investor presentation that predicted aggressive revenue and profit growth by 2024. This includes revenue predictions of more than $1 billion. So, let’s look at the company’s past financial highlights…

Detailed financial information is in the BuzzFeed SEC filings, allowing you to gain more insight into the company’s finances. Furthermore, if you’re in the market for BZFD stock, let’s look at the details.

BuzzFeed highlights some key information for investors. The company’s financial highlights are as follows…

Total Revenue: BuzzFeed reported growing revenue. For the six months ended June 30, 2020, BuzzFeed recorded $123 million in total revenue. Revenue grew to over $161 million for the six months ended June 30, 2021. BuzzFeed reported $321 million in annual revenue for the year 2021. The company is estimating $654 million in revenue in 2022.

Net Income (Loss): BuzzFeed has reported losses recently. For the six months ended June 30, 2020, BuzzFeed recorded $19 million in net losses. However, losses narrowed to $12.1 million for the six months ended June 30, 2021.

Loss from Operations: BuzzFeed’s operating losses have narrowed. The company recorded $20.5 million in operating losses for the six months ended June 2020. For the six months ended June 2021, BuzzFeed’s losses went down to $17 million.

Adjusted EBITDA: BuzzFeed’s EBITDA has grown. For the six months ended June 2020, the company’s adjusted EBITDA was -$10.7 million. However, Buzzfeed recorded an adjusted EBITDA of $1.3 million for the six months ended June 2021. The company recorded $31 million in adjusted EBITDA for 2020. BuzzFeed is estimating $117 in EBITDA in 2022.

The company behind BZFD stock announced it will acquire Complex Network as part of the BuzzFeed IPO. Let’s take a deeper look…

BuzzFeed SPAC IPO Includes the Acquisition of Complex Network

In June, co-founder and CEO Jonah Peretti announced plans to pursue a BuzzFeed IPO via a merger with SPAC 890 Fifth Avenue Partners (Nasdaq: ENFA). As part of the merger, BuzzFeed plans to acquire Complex Networks for $300 million. The company is a digital publisher specializing in streetwear, music and culture. A cash payment of $200 million and an equity stake of $100 million from BuzzFeed are part of the deal.

At the time, Peretti told CNBC’s TechCheck that the SPAC could help strengthen the company’s position to acquire other digital media companies. A Buzzfeed SPAC IPO will help the company go public faster than a traditional IPO. Additionally, it would give the company the ability to simultaneously merge with Complex Networks.

CEO Peretti commented on the acquisition of Complex Networks…

We remain excited about the pending acquisition of Complex Networks and look forward to working with its talented team to accelerate their commerce and advertising revenue growth while allowing BuzzFeed to benefit from their complementary audience and business profile.

According to an unnamed source familiar with the matter, the SPAC merger and $300 million acquisition could close by the end of the day Friday if all goes well. Shareholders of 890 Fifth Avenue Partners voted on Thursday to approve the SPAC merger.

BuzzFeed is targeting a $1.5 billion valuation upon combining with 890 Fifth Avenue Partners. The company could begin trading as soon as December 6. Here’s the verdict on the Buzzfeed IPO…

Buzzfeed IPO Set to Trade December 6

Shareholders of 890 5th Avenue Partners approved the deal with BuzzFeed, but not without a cost. According to Wall Street Journal, investors appear to have pulled out “the bulk of their money” from the SPAC.

Buzzfeed originally planned to fetch $288 million held by the SPAC. However, after 94.4% of shareholders of the SPAC redeemed their shares, the company will only receive $16.2 million of the proceeds, or 6%.

Wall Street Journal cited people with knowledge of the development. The withdrawals will substantially reduce the digital media outlet’s cash on hand. In an SEC filing following the vote, Buzzfeed stated it plans to raise $166.2 million in the deal. This involves $150 million coming from convertible debt financing and $16.2 million from investor cash.

890 5th Avenue Partners currently trades on the Nasdaq exchange under the ticker symbol ENFA. The newly public company will operate as BuzzFeed Inc. following the merger with BuzzFeed. It will trade on the Nasdaq exchange under the ticker BZFD.

According to the company, its management team remains intact after the IPO, with Peretti remaining CEO and Felicia DellaFortuna acting as CFO.

You can learn more about going public through a SPAC IPO here.

The BuzzFeed SPAC IPO hasn’t hit the market yet. However, BZFD stock will begin trading on December 6.

As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.

The post Buzzfeed SPAC IPO: All About BZFD Stock appeared first on Investment U.

Phoenix Motor IPO: About the EV Company

Phoenix Motor is an electric drive system and vehicle manufacturer. Founded in 2003, the company spearheaded the electric vehicle market. Today, it’s a leading manufacturer of light- and medium-duty electric buses and trucks. Phoenix Motor also markets EV chargers for commercial and residential use.

The company is on a mission to build quality electric vehicles. It hopes to exceed customers’ greatest expectations while assisting in making the planet a better place for everyone. For this purpose, the company sells fully integrated EVs, but it goes a step further.

Phoenix Motor provides EV conversion kits to electrify any body or application on a Ford E-450 Series platform. The company just began production of its recently developed third-generation drivetrain. Offering up to 160 miles in range, it will have the largest battery pack and longest electric range for any Class 4 product on the market.

Phoenix Motorcars has a lot to offer the EV world. The company behind PEV stock has developed EVs for various markets like service and government fleets. Phoenix Motor serves a broad range of locations and customers…

• Airports
• Parking companies
• Transit agencies
• Cities
• Hotels
• Campus routes
• Senior centers
• Last-mile delivery
• Utility companies
• School districts

Phoenix Motor: Electric Vehicle Product Offerings

Phoenix Motor sold its first commercial EV in 2014. It uses the Ford E-450 Superduty chassis as the foundation of all of its EVs. Currently, the company has three electric vehicles.

ZEUS 400 Shuttle Bus

The Zeus 400 is a 14-24 person shuttle bus.

ZEUS 500 Truck

The ZEUS 500 offers an electrified chassis payload of 6,000 pounds. It can operate as a flatbed truck, box truck, utility truck, service truck or even a walk-in van.

ZEUS 600 School Bus

The ZEUS 600 is an electric school bus. The bus seats up to 25 passengers and offers up to six wheelchair positions.

Phoenix Motor offers four different types of battery packs, further adding to its customization capabilities. Options include 63, 94, 125 or 156 kWh batteries with ranges between 70 and 160 miles.

The company also offers a variety of L2 and DC Fast Charging solutions to existing fleet customers. Additionally, it offers charging systems to residential and multi-family markets as it expands its product offerings, according to the prospectus. Phoenix Motor is also focusing on offering its charging systems to the commercial market in the future.

PEV Stock Coming Ahead of EF1-T and EF1-V

Phoenix Motor is in the developing stages of the EF1-T electric pick-up truck and the EF1-V electric delivery van. The company is collaborating with Icona Design to design and develop the vehicles. Icona recently delivered a concept prototype of the two vehicles in September 2021. The concepts will launch as serial versions by 2025.

As of September 30, 2021, Phoenix Motor has delivered a total of 98 EVs. This consists of 84 shuttle buses and 14 work and delivery trucks. In its prospectus, Phoenix Motor claims to have driven over three million electric miles to date, reducing CO2 emissions by over 9.7 million pounds.

Currently, the company has 66 units on backorder. This consists of 41 complete vehicles and 25 electric drive systems, representing around $9.3 million in revenue. However, the company has continuously lost money since its inception. Let’s examine the numbers…

Phoenix Motor IPO: A Look Into the Finances

Detailed financial information is in the Phoenix Motor IPO prospectus, allowing you to gain more insight into the company’s finances. Furthermore, if you’re in the market for PEV stock, let’s look at the details.

Phoenix Motor highlights some key information for investors. The company’s profit and loss statement and balance sheet data are as follows…

Revenue: For the nine months ended September 30, 2020, Phoenix Motor recorded $3.8 million in revenue. However, revenue dropped to $1.7 million for the nine months ended September 30, 2021. According to the filing, the decrease in revenues is mainly due to delivery delays and supply shortages.

Net Income (Loss): Phoenix Motor has reported consistent losses. For the nine months ended September 30, 2020, Phoenix Motor recorded $3.3 million in net losses. However, losses grew to $6.4 million for the nine months ended September 30, 2021

Total Assets and Liabilities: Phoenix Motor’s total assets have grown. The company recorded $9 million in total assets in 2019. As of December 2021, Phoenix Motor’s total assets grew to $29.2 million. Furthermore, Phoenix Motor has lowered its total liabilities. In 2019, total liabilities stood at $20.6 million. In 2020, they lowered to $4.4 million.

Cash: Phoenix Motor’s cash flows have skyrocketed. The company recorded $29,000 in cash as of December 2019. By the end of 2020, cash grew to $16 million.

Phoenix Motor IPO Filing Details

Phoenix Motor filed confidentially on August 24. The filing just became public, showing the company plans to raise up to $150 million in its public debut. However, that figure can be used as a placeholder to calculate filing fees.

The company will list on the Nasdaq exchange under the ticker PEV. However, the company didn’t disclose its IPO date, price range and offer shares.

The company plans for the IPO to take place after the SEC review process. So, investors should start preparing to invest in PEV stock. You can learn more about the IPO process here in this step-by-step guide to going public.

Maxim, Roth Capital and EF Hutton are leading the offering.

The Phoenix Motor IPO hasn’t hit the market yet. However, stay tuned for more updates on PEV stock and we’ll give you the latest updates.

Also, for more EV investing opportunities, check out the Sono Motors IPO and Polestar IPO.

As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.

The post Phoenix Motor IPO: What Investors Should Know About PEV Stock appeared first on Investment U.

Mod Pizza IPO: About the Business

In 2008, Scott and Ally Svenson founded MOD Pizza in Seattle. A pioneer among fast-casual pizza brands, MOD – short for Made On Demand – was one of the first to enter the market. People often refer to the chain as the “Chipotle of pizza.”

MOD Pizza offers artisan-style pizzas and salads. Each one is individually made, ready in minutes and made to order. While waiting in line, customers can choose from over 30 topping choices at no additional charge.

MOD Pizza is one of the earliest fast-casual pizza chains. Moreover, a big part of the company’s success is its people-first culture, inclusiveness and opportunities for internal promotion. MOD Pizza’s website states…

From above-industry pay and benefits, to hiring people with disabilities and those in need of a second chance – our ethos is deeply rooted in acceptance, opportunity and development. The result? An amazing spirit of individuality, teamwork and service has emerged. It’s our culture of doing good – and it’s catching on.

It’s no surprise the chain has seen rapid expansion over the last few years. Today, MOD Pizza is among the fastest-growing chains in the industry. However, the company faced growth challenges due to COVID-19.

Mod Pizza Growth Impacted by COVID-19

Before the pandemic, MOD Pizza was on a growth streak. The company raised $160 million in funding in 2019 and announced plans to increase its store count to 1,000 locations by 2024. Unfortunately, the pandemic slowed growth plans. Still, the company opened 22 new locations in 2020, compared to 64 in 2019. The chain opened its 500th store in May 2020.

MOD Pizza’s investments in online channels in 2019 lessened the effects of COVID-19. The company released the MOD Rewards program in 2019 as part of its expansion into digital offerings. In addition, the company partnered with food delivery services and offered curbside pickup for to-go orders. This helped the company bounce back from the pandemic and resulted in 135% growth in digital sales.

Scott Svenson, co-founder and CEO of MOD Pizza, stated that the pandemic helped the company come out stronger…

Not only did we successfully manage through the crisis, but we improved the business in multiple ways that will help us emerge from this crisis stronger than ever. We, therefore, enter 2021 with immense optimism about the future as we look forward to the opening of our 500th location and a pipeline of operational improvements and innovations that will further enhance the Squad and customer experience.

These initiatives help position the company well for the future. The MOD Pizza IPO could be an intriguing prospect for investors. Let’s examine the company’s finances first…

Mod Pizza Financial Highlights

The MOD Pizza IPO filing is confidential, so finances are not publicly available yet. However, here are some highlights from the company’s 2019 and 2020 year-end results…

In 2019, system-wide sales grew 24% from 2018 to reach $493 million. However, in 2020, MOD Pizza recorded $461 million in system-wide sales, representing a 5% decline from 2019.

MOD Pizza’s 2019 net revenue reached $393 million, up 26% from 2018. In 2020, the company’s net revenue dropped to $388 million. However, digital revenue rose nearly 275% in 2020, representing approximately 40% of sales.

In 2020, the MODS Rewards loyalty program reached 2 million members. The program played a key role in responding digitally to COVID-19. During the pandemic, rewards members remained a reliable source of demand, accounting for more than 20% of system-wide sales.

So, what are the filing details for the MOD Pizza IPO?

Mod Pizza IPO Filing Details

The company recently announced steps toward the MOD Pizza IPO. The company has confidentially submitted a draft to the Securities and Exchange Commission (SEC). ​​In other words, the IPO date, price range and offer shares are unknown. Additionally, the company didn’t announce a market or ticker symbol.

The company plans for the IPO to take place after the SEC review process. So, investors should start preparing for the public debut. You can learn more about the IPO process here in this step-by-step guide to going public.

Check back here for the latest updates on the MOD Pizza IPO. Otherwise, for more food-related investing opportunities, check out the Freshworks IPO and Sweetgreen IPO. Also, check out these top 6 restaurant and fast-food stocks.

As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.

The post MOD Pizza IPO: Public Debut Information for Investors appeared first on Investment U.