SimilarWeb (SMWB) IPO Opens 6% Lower
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Today's IPO for SimilarWeb (NYSE: SMWB) opened for trading at $20.76 after pricing 8,000,000 ordinary shares at $22 per share, above the expected $19-$21 range.
The leading digital market intelligence company is offering 7,500,000 ordinary shares and the selling shareholder named in the prospectus is offering 500,000 ordinary shares.
SimilarWeb provides a 360° platform for digital intelligence that empowers its customers to win their markets. The company's proprietary technology analyzes billions of digital interactions and transactions every day from millions of websites and apps in more than 190 countries, and turns these digital signals into actionable insights.
The company has 800 employees across 10 global offices. It has 2,800+ customers, including brands like Lego, DHL, and Rakuten, as well as many SMBs.
In Q1 2021 the company hit $123M in ARR and grew 43% QoQ. Its total addressable market (TAM) is estimated at $34 billion.
J.P. Morgan, Citigroup, Barclays, and Jefferies are acting as joint book-running managers. JMP Securities, Oppenheimer & Co. and William Blair will act as co-managers for the proposed offering.
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Create E-mail Alert Related CategoriesIPOs
Related EntitiesWilliam Blair, JPMorgan, Citi, Jefferies & Co, JMP Securities, Barclays, IPO
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