Marqeta, Inc. (MQ) Plans to Raise $1 Billion in June 9th IPO

Marqeta, Inc. (MQ) expects to raise $1 billion in an initial public offering (IPO) on Wednesday, June 9th, IPO Scoop reports. The company will issue 45,500,000 shares at $20.00-$24.00 per share.

In the last year, Marqeta, Inc. generated $290.3 million in revenue and $47.7 million in net income. The company has a market-cap of $11.7 billion.

Goldman Sachs, J.P. Morgan, Citigroup, Barclays, William Blair and KeyBanc Capital Markets served as the underwriters for the IPO and Nomura, HSBC, R. Seelaus & C. and Siebert Williams Shank were co-managers.

Marqeta, Inc. provided the following description of their company for its IPO: “Marqeta created modern card issuing, and we believe modern card issuing is at the heart of today’s digital economy. When you order food using DoorDash or groceries using Instacart, modern card issuing works in the background as money moves from the app to the delivery driver’s payment card, allowing the driver to pay for exactly what you ordered, and nothing else. When you buy a big screen TV and pay for it in installments using Affirm or Klarna, modern card issuing helps move money to the payment card that Affirm or Klarna uses to seamlessly pay the merchant. When you receive money from your friend through Square’s Cash App, modern card issuing helps move the funds to your debit card, making it instantly available to you to make purchases. Marqeta’s modern card-issuing platform empowers our Customers—which include businesses like Affirm, DoorDash, Instacart, Klarna, and Square—to create customized payment cards that provide innovative payment experiences for their customers and end users. Before the rise of modern card issuing, creating cards was slow, complex, and subject to mistakes. Marqeta helps solve these problems. Our Platform, powered by open APIs, enables businesses to develop modern, frictionless payment card experiences for consumer and commercial use cases that are either the core of, or in support of, their core business. “.

Marqeta, Inc. was founded in 2010 and has 509 employees. The company is located at 180 Grand Avenue 6th Floor Oakland, CA 94612 and can be reached via phone at (888) 462-7738 or on the web at http://www.marqueta.com/.

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