CRICUT, INC. Plans $321 Million IPO for March 25th (CRCT)

CRICUT, INC. (CRCT) is planning to raise $321 million in an IPO on Thursday, March 25th, IPO Scoop reports. The company will be issuing 15,300,000 shares at $20.00-$22.00 per share.

In the last twelve months, CRICUT, INC. generated $959 million in revenue and $155 million in net income. CRICUT, INC. has a market-cap of $4.6 billion.

Goldman Sachs, Morgan Stanley, Citigroup, Barclays and Baird served as the underwriters for the IPO.

CRICUT, INC. provided the following description of their company for its IPO: “At Cricut, our mission is to help people lead creative lives. We have designed and built a creativity platform that enables our engaged and loyal community of 4.3 million users to turn ideas into professional-looking handmade goods. With our highly versatile connected machines, design apps and accessories and materials, our users create everything from personalized birthday cards, mugs and T-shirts to large-scale interior decorations and more. Our cloud-based software enables us to update the functionality and features of existing physical and digital products and to release new products that seamlessly integrate with our platform. This makes our platform broadly extensible and empowers our users to unlock ever-expanding creative potential. Our software integrates our connected machines and design apps, allowing our users to create and share seamlessly. Our software is cloud-based, meaning that users can access and work on their projects anywhere, at any time, across any desktop or mobile device.  Our portfolio of connected machines cut, write, score and create decorative effects using a wide variety of materials, including paper, vinyl, leather and more.  Our connected machines are designed for a wide range of uses and are available at a variety of price points. We generate revenue from the sale of our connected machines, subscriptions and accessories and materials. We sell our products through brick-and-mortar retail partners, including Hobby Lobby, HSN, Jo-Ann, Michaels, Target and Walmart, as well as through online channels such as Amazon and cricut.com.  “.

CRICUT, INC. was founded in 1969 and has 640 employees. The company is located at 10855 South River Front Parkway South Jordan, Utah 84095 and can be reached via phone at (385) 351-0633.

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