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A look at 4 IPO updates and 2 late-stage funding rounds

A look at 4 IPO updates and 2 late-stage funding rounds

March 25, 2021 Off By Eddie Editor

Covering YC Demo Day yesterday was good fun, but I missed a few items while watching several hundred startup pitches. A few years ago, these stories might have been the biggest news of the week.

But with the venture capital market redlining its engines while public markets remain sympathetic to growing, unprofitable companies, there’s lots going on. So, as a follow-up to our first late-stage roundup that we published yesterday morning, here’s another.

The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.

This time we’re discussing IPO news from DigitalOcean (context), Kaltura (context), Robinhood (context) and Zymergen, and big rounds for Lattice and goPuff. That’s a lot to chew on, but I’ll be brief and to the point.

We’ll commence with the IPO news and then pivot into the late-stage rounds, just in case more drops this morning while we’re typing our way through yesterday’s news. Let’s go!

IPO updates

Today’s most pressing news is that DigitalOcean, a provider 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 price range of $44 to $47. Before counting shares reserved for its underwriters, DigitalOcean is worth just under $5 billion.

And the company raised a gross $775.5 million in the offering, giving DigitalOcean a massive war chest to pursue its vision. As the company has proved increasingly unprofitable on a GAAP basis in recent years, the extra cash isn’t a problem: DigitalOcean plans to reduce its aggregate debt load with some of the proceeds, which will improve its profitability.

The company won’t trade for hours, so we’re done with DigitalOcean for now. File it in your mind as a win, as the company raised $50 million last year at a $1.1 billion valuation (PitchBook data). 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 company. Targeting $14 to $16 per share in its impending debut, the video software company is worth around $2 billion at the top end of its range, not counting shares reserved for its underwriting banks or other shares tied up in vested options and recruited stock units (RSUs).


Read more: feedproxy.google.com

A quick note about the reviews I do on this site. The product vendors may give me access to their products for free in order for me to do my review, alternatively, I may have bought the product myself. However I make no promises to vendors regarding what I write in my review. Should you click a link that takes you to a sales page for a paid product for sale this link will be an affiliate link and I will be paid a percentage of the sales price should you decide to invest in it.

CategoryMarketing
Tagsdigitalocean ec fintech ec newsletter gopuff kaltura lattice startups the exchange y combinator
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