Covering YC Demonstration Day yesterday was great fun, however I missed a few products while seeing a number of hundred start-up pitches. A couple of years earlier, these stories may have been the most significant news of the week.
With the endeavor capital market red-lining its engines while public markets stay sympathetic to growing, unprofitable companies, there’s lots going on. As a follow-up to our very first late-stage roundup that we published yesterday morning, here’s another.
This time we’re going over IPO news from DigitalOcean (context), Kaltura (context), Robinhood (context), and Zymergen, and huge rounds for Lattice and goPuff. That’s a lot to chew on, but I’ll be brief and to the point.
Today’s most important news is that DigitalOcean, a supplier of cloud services to small businesses, priced its IPO at $47 per share last night. That was right at the top of its public-offering rate variety of $44 to $47. Prior to counting shares scheduled for its underwriters, DigitalOcean deserves simply under $5 billion.
And the business raised a gross $775.5 million in the offering, giving DigitalOcean a massive war chest to pursue its vision. As the business has proved progressively unprofitable on a GAAP basis recently, the additional money isn’t an issue: DigitalOcean plans to minimize its aggregate financial obligation load with some of the proceeds, which will enhance its success.
The company won’t trade for hours, so we’re finished with DigitalOcean in the meantime. File it in your mind as a win, as the business raised $50 million last year at a $1.1 billion evaluation (PitchBook information). That’s a quick 5x.
Next up from the IPO treadmill is Kaltura, which released a first guess of its market value as a public business. Targeting $14 to $16 per share in its impending debut, the video software business is worth around $2 billion on top end of its variety, not counting shares booked for its underwriting banks or other shares bound in vested alternatives and hired stock systems (RSUs).
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.