By Karen Roman
Cheddar TV’s Kristen Scholer interviewed IPO Edge Editor-in-Chief John Jannarone to discuss how technology and cloud-based services companies are driving an IPO revival, with firms like Ibotta, Inc. (Nasdaq: IBTA) pricing well above range Wednesday at $88 and getting a “healthy pop” to close at $103.25.
Mr. Jannarone noted Ibotta is growing fast and is already profitable, thanks to its business model that only charges companies for digital coupons if they’re redeemed. Its client base includes a consumer products industry that currently spends $200 billion in marketing a year.
Rubrik, the next big software deal after Klaviyo, is another company to watch out for in the pipeline. Its potential $6.4 billion valuation is less than 6 times sales, a discount in comparison to the likes of CrowdStrike and Cloudflare.
He mentioned Rubrik offers AI and cloud-based cybersecurity services to blue-chip clients like Home Depot and Pepsi and is backed by a major Microsoft investment. From a corporate governance perspective, Mr. Jannarone said Rubrik has supervoting shares, with public ones having a twentieth of the voting power compared to founder shares.
For a deeper look into the IPO market outlook, IPO Edge will host a bootcamp at Nasdaq on May 6, 2024, with an assembly of experienced CFOs, capital markets advisors and practitioners for an opening bell ringing and a series of panels, including multiple networking opportunities over light breakfast and lunch.
To request sponsorship details or an invitation to attend the IPO bootcamp, email Editor@ipo-edge.com
To watch the full Cheddar interview with Ms. Scholer and Mr. Jannarone, see below or visit IPO-Edge.com
Contact:
Editor@IPO-Edge.com
