monday.com Ltd. (MNDY) plans to raise $490 million in an initial public offering (IPO) on Thursday, June 10th, IPO Scoop reports. The company plans to issue 3,700,000 shares at a price of $125.00-$140.00 per share.
In the last year, monday.com Ltd. generated $161.1 million in revenue and had a net loss of $152.2 million. monday.com Ltd. has a market-cap of $5.8 billion.
Goldman Sachs, J.P. Morgan, Allen & Co. and Jefferies served as the underwriters for the IPO and William Blair, Piper Sandler, Oppenheimer & Co., Canaccord Genuity, Cowen, Needham & Co., Academy Securities, Loop Capital Markets, Ramirez & Co., Siebert Williams Shank and Tigress Financial Partners were co-managers.
monday.com Ltd. provided the following description of their company for its IPO: ” monday.com democratizes the power of software so organizations can easily build software applications and work management tools that fit their needs. We call our platform ‘Work OS’, and we believe we are pioneering a new category of software that will change the way people work and businesses operate. Our cloud-based platform is a no-code and low-code framework. It consists of modular building blocks that allow our customers to create their own software applications and work management tools with robust capabilities and an enjoyable user experience. The categories of building blocks include items, columns, views, automations, integrations and widgets. With the platform’s no-code capabilities, customers can adapt each building block to build software applications and tools that fit their desired use case and evolving needs. This makes the platform both easy to adopt and scale over time. Our users have the ability to seamlessly leverage the same building blocks for a broad number of use cases. As a result, our customers use our platform to tackle obstacles they face, either by designing new software applications and work management tools or by easily integrating such tools with existing third-party solutions. We believe this makes our Work OS a core solution that customers rely on to run their operations. As of March 31, 2021, we served 127,974 customers across over 200 industries in more than 190 countries. Our customers use our platform for thousands of use cases, typically deploying our software in one of the following three categories: (1) to build business-critical software applications, (2) to build work management tools and (3) to act as a connective layer to form a unified workplace and integrate applications across an organization. Our customers include Universal Music Group, the world’s leading music company; HubSpot, Inc., an American developer and marketer of software products; Oscar Insurance Corp., a health insurance company built around a full-stack technology platform; Indosuez Wealth Management, the global wealth management brand of Crédit Agricole Group, which is the world’s largest cooperative financial institution; the National Hockey League, the world’s premier professional ice hockey league, and the Ray White Group (Real Estate) Partnership, the largest real estate franchise in Australia and New Zealand. “.
monday.com Ltd. was founded in 2012 and has 799 employees. The company is located at 52 Menachem Begin Rd. Tel Aviv-Yafo 6713701, Israel and can be reached via phone at +972(55) 939-7720 or on the web at http://www.monday.com/.
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