Like the end of summer weather here in Santa Monica, the SaaS IPO market in 2018 has been hot! While the overall numbers for technology IPOs are down compared to previous bull markets — with the rise of unicorn private market valuations and blockbuster M&A deals — the SaaS IPO market in 2018 has had several longtime stalwarts finally file their public market debuts. Many of these SaaS companies are households names, and cloud-based service providers that businesses rely on to run everything from marketing to sales to HR to customer success. Indeed, many of the largest SaaS IPO’s of the year are longtime DataHero partners as well and we’re proud to work with such a talented group of companies.
As a result, we decided to take a deeper look at some of our SaaS partners who have gone public in 2018 or have filed to go public this year. While IPOs by themselves are a financing event and is not meant to be a pure indicator of success, it does take a certain level of company size, growth, and establishment in order to go public. Given some of the longstanding track records of the companies we’ve listed, it does establish a credible look at some of the biggest and most widely watched SaaS IPOs of 2018. This list includes a veritable who’s who when it comes to large, growing, established cloud service providers and is listed below:
Dropbox is an online file hosting service that offers cloud storage, file synchronization, personal cloud, and client software. The cloud storage giant priced their eagerly anticipated IPO at $21 a share when they went public in March. On the first day of trading, the stock surged 36% and closed at $28.48. Since then, the stock has pulled back ever slightly and currently trades at $26.60 with a market cap of $10.7 billion.
Zuora is a cloud based software provider focused on subscription payments. Zuora’s subscriptions-focused applications are designed to automate billing, commerce, and finance operations. They priced their IPO at $14 a share back in April on the NYSE under ticker “ZUO”. Zuora’s stock jumped nearly 43% on the first day of trading and currently trades at $25.84 with a market cap of $2.78 billion.
Smartsheet is an intuitive cloud-based software provider of collaboration and work management tools. The 13 year old SaaS company priced their IPO above range at $15 per share at the end of April, 2018. The stock ended trading up 30% at $19.50 and has impressively continued its upward trend since then, currently trading at $29.05 with a market cap of $2.98 billion.
Eventbrite is a longstanding live event ticketing provider that filed to go public later this year. While the initial price and date have yet to be determined, they are looking to raise approximately $200 million in their IPO on the NYSE under the stock symbol “EB”. We can’t wait to add another great DataHero partner to the list of SaaS IPOs in 2018!
SurveyMonkey is an online survey software provider that provides additional tools to manage professional surveys. The 19 year old SaaS company just recently announced at the end of August that they had filed for a NASDAQ IPO in 2018, planning to raise approximately $100 million from the public offering. Yet another great addition to a standout year of SaaS IPOs.
And lastly, while not technically a SaaS IPO in 2018, we included Github in our list given their giant acquisition by Microsoft for $7.5 billion in stock back in June of this year. The cloud-based hosting service provides version control using git and is used by developers across the world to manage their code bases.
2018 is definitely shaping up to be one of the more active years for SaaS IPOs as many long-time cloud software businesses are taking advantage of the long bull run to list on the public markets.
As a partner to many of these business, we here at DataHero are proud to provide the quickest, easiest way to get insights from your data across all of these cloud services. You can even combine datasets across multiple service providers to dive deeper into your data.
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