SimilarWeb (SMWB) IPO Opens 6% Lower
Get Alerts SMWB Hot Sheet
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- JPM sees risk of further negative earnings revisions for Tesla (TSLA)
- Jefferies Positive on Fair Isaac (FICO)
Create E-mail Alert Related Categories
IPOsRelated Entities
William Blair, JPMorgan, Citi, Jefferies & Co, JMP Securities, Barclays, IPOSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!