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Another San Francisco-based company appears to be on the verge of becoming public soon. PagerDuty, an 8.5-year-old start-up that sends information about their technology to a broad range of companies, has just filed its S-1, a public disclosure on its IPO projects.
PagerDuty, The latter, which helps companies react quickly to computer incidents and is increasingly trying to anticipate them, was reportedly filed confidentially several months ago. But the closure of the government for 35 days meant that no one could examine his prospectus (or that of other companies) at the time.
According to an article published in January by Bloomberg, Morgan Stanley will direct the offer.
We contacted the company for more information. In the meantime, the bid says seek to raise $ 100 million, frequently used amount as a reservation mark.
PagerDuty was valued at $ 1.3 billion last fall when it closed with $ 90 million Series D financing led by T. Rowe Price Associates and Wellington Management. Accel, Andreessen Horowitz, previous donors and Bessemer Venture Partners also joined the series, bringing the company's total funding to $ 173 million.
According to the S-1, venture capitalists currently own about 55% of the company. Andreessen Horowitz holds the largest share, with 18.4% of his shares entering the IPO. Accel owns 12.3% recently, Bessemer 12.2%, Baseline Ventures 6.7% and Harrison Metal 5.3%.
PagerDuty, which employed 500 people last fall, has never been profitable according to its record, which would have generated a net loss of $ 38.1 million for the year ended January 31, 2018. (A business figure of $ 79.6 million over the same period) period.)
The risk factors for the company leave few surprises, if any, including changes in competition and management. Another risk is security. In fact, the company reveals in its S-1 that its security measures have been compromised in the past and notes that they might be new, which is not nothing, given the amount of money. Information that PagerDuty needs to perform its work, including personally identifiable information from its customers, including contact information and physical location.
As ratings, cyber incidents, and malicious Internet-based activities continue to grow, putting virtually all organizations at risk.
We introduced the CEO of the company, Jennifer Tejada, last fall. She joined the company in 2016 after previously held the position of CEO, Keynote Systems, a company specializing in the development and commercialization of software as a service that has since merged with another company. For about a year, she has been on the board of cosmetics giant Estee Lauder.
Tejada owns 6.4% of PagerDuty, indicates the ranking. At the same time, PagerDuty co-founders Andrew Miklas and Baskar Puvanathasan, both of whom left the company, each owns a 7.1% stake.
Based on the assumption that PagerDuty projects are progressing smoothly, Tejada will join an increasing but growing list of women leaders who have led their technology companies, including Julia Hartz of Eventbrite and Katrina Lake, CEO of Stitch Fix.
PagerDuty is also expected to join at least a handful of startups in San Francisco and plans to make it public in 2019, including Slack, Lyft, Uber, Pinterest and, most likely, Airbnb.
Not surprisingly, the city's Board of Supervisors is trying to prepare for the impact of the influx of extra money on the lives of its already overcrowded residents, many of whom are already struggling to afford to live in San Francisco. Francisco, where everything has been spent steadily increasing for years.
The cost of buying a home should also increase. As cited in SF Weekly, a recent study by academics from UCLA and Pennsylvania State University titled "Money to Spend: IPO Wealth and House Prices" analyzed the impact of IPOs. stock market in California between 1993 and 2017. What she discovered unsurprisingly: this house prices within 10 miles of the company's headquarters increased on average one percent after the filing date and 0.8 percent after the publication of the name of the company. the society.
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