IA WalkMe to seek an IPO on the Nasdaq

0


[ad_1]

WalkMe Ltd, an artificial intelligence (AI) company that provides onscreen guides to website owners and software developers, said Tuesday (May 18) that it had filed documents for a public offering initial (IPO) on the Nasdaq.

According to a Times of Israel report, WalkMe has filed a preliminary prospectus with the Securities and Exchange Commission (SEC) for the IPO, although the number of shares up for grabs and the price range of the offering n have not yet been set.

While WalkMe didn’t say what valuation it was looking for with the IPO, its latest round of funding valued the company at $ 1.9 billion. Earlier reports said the company would seek an IPO valuation of around $ 4 billion.

WalkMe said in its prospectus that its revenue for 2020 increased 41% to $ 148.3 million. For the first quarter of 2021, revenue increased 25% to $ 42.7 million from the first quarter of last year. Net losses for 2020 fell from $ 45 million from $ 50.1 million in 2019.

“We believe digital adoption represents a large, rapidly growing and under-penetrated market opportunity today, and we estimate our total addressable market opportunity to be approximately $ 34 billion. As a pioneer and market leader in this category, we believe we are well positioned to seize a substantial part of this great opportunity over time, ”the Tel Aviv-based company said in the filing.

The risks that WalkMe faces include that its products “are new and evolving and may develop more slowly or differently than expected. Our future success depends on the growth and expansion of these markets and our ability to adapt and respond effectively to changing market conditions. “

Founded in 2011 by CEO Dan Adika, Chairman Rafael Sweary and Eyal Cohen, WalkMe has raised $ 308 million to date from various investors including Vitruvian Partners, Insight Capital and EDBI of Singapore.

Tuesday’s announcement comes during a busy IPO season, including another Tel Aviv tech company monday.com, which said earlier this week it had filed its own documents with the SEC. .

——————————

NEW PYMNTS DATA: CRYPTOCURRENCY PAYMENTS STUDY – MAY 2021

About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million people plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, the crypto they plan to to use – and how merchant acceptance can influence merchant choice and consumer spending.





[ad_2]

Share.

About Author

Leave A Reply