Tag: IPO

13
Oct
2020
Posted in technology

McAfee Sets Terms of IPO, Hoping to Raise Up to $682 Million

McAfee, the cybersecurity company founded by tech eccentric John McAfee, has set the terms for its initial public offering, hoping to raise as much as $682 million in a deal that could value the company at $3.64 billion.

McAfee, based in San Jose, plans to sell 37 million shares at a price of $19 to $22 each. The stock will trade on Nasdaq, with the ticker symbol MCFE, the company said in an SEC filing.

Of the 37 million shares, 30,982,558 will come from the company and 6,017,442 from existing stockholders. McAfee expects to have 165.44 million Class A shares outstanding after the IPO.

In the six months through June 27, McAfee posted profit of $31 million, swinging from a loss of $146 million in the year-earlier period. Revenue rose 9% to $1.4 billion from $1.29 billion.

John McAfee founded McAfee Associates in 1987 and ran it until 1994, when he left the company.

McAfee’s anti-virus software was a market leader along with Norton in the 1990s and 2000s. It sold itself to Intel INTC for $7.7 billion in 2011.

In 2016, Intel sold a 51% stake to the San Francisco private-equity firm TPG for $1.1 billion. In its IPO prospectus, McAfee cites TPG and Chicago PE firm Thoma Bravo as investors.

After leaving McAfee Associates, John McAfee founded a raft of companies, including Tribal Voice, which offers the PowWow chat program; QuorumEx and Future Tense Central. 

In 2016 he sought the Libertarian Party nomination for president, losing to former New Mexico Gov. Gary Johnson. He gave it another shot this year, to no avail.

McAfee was arrested last week in Spain and is facing extradition to the U.S. on tax evasion charges. In a statement announcing the charges, the Department of Justice noted “The indictment does not allege that

13
Oct
2020
Posted in technology

Vivos Therapeutics Seeks $20 Million IPO

Vivos Therapeutics (VVOS) intends to raise $20 million in an IPO of its common stock, according to an S-1 registration statement.

Highlands Ranch, Colorado-based Vivos was founded to develop customized oral devices designed to help people who suffer from mild to moderate obstructive sleep apnea [OSA].

Management is headed by co-founder, Chairman and CEO R. Kirk Huntsman, who was previously founder of Dental One Partners, a large dental service organization.

Below is a brief overview video of Vivos Therapeutics:

The company’s primary offering is the Vivos System, composed of a nighttime appliance and a daytime/nighttime appliance.

Vivos has received at least $21 million from investors.

The firm sells its systems to dental practitioners via a direct sales force that targets prospects in the U.S. and Canada.

In the future, and with some of the proceeds from the IPO, the firm intends to develop strategic partnerships, connect with key opinion leaders, attend trade shows and use digital advertising platforms to introduce practitioners to the system.

Sales and Marketing expenses as a percentage of total revenue have dropped as revenues have increased.

The Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, dropped 1.4x in the most recent reporting period.

According to a 2019 market research report, the global market for sleep apnea devices is expected to reach a value of $12.6 billion by 2025.

This represents a forecast CAGR of 6.8% from 2019 to 2025.

The main drivers for this expected growth are an increasing prevalence of sleep disordered breathing, growing awareness of the condition and a higher treatment rate in regions such as North America.

Also, therapeutic devices accounted for 65% of the market in 2018 and are expected to grow at a CAGR of

12
Oct
2020
Posted in software

Unity Software competitor Roblox confirms confidentially filing for IPO (NYSE:U)

Video game platform Roblox has confidentially filed for an IPO, according to a company statement to Bloomberg.

The number of shares and price for the offering weren’t revealed.

Last week, Reuters reported that Roblox would seek an $8B valuation, double the valuation during a $450M private investing round in February.

Roblox makes freemium games and operates Roblox Studio, a free game creation system that competes with recently listed Unity Software (NYSE:U).

Previously: Unity competitor Roblox considering U.S. IPO – Reuters (Oct. 01 2020)

Source Article

12
Oct
2020
Posted in software

Forget Snowflake — This Is the Software IPO That Caught My Eye

Last month, investors went absolutely bananas for software initial public offerings, or IPOs. No company highlighted the craze more than Snowflake (NYSE:SNOW) — shares of which have more than doubled from their initial price. 

But in the Snowflake-induced haze of IPO stocks, another company caught my attention: JFrog Ltd. (NASDAQ:FROG). This company checks off a lot of boxes that I look for in an investment: founder-led, strong balance sheet, and a barbell approach that seems to be working very well.

That said, two issues give me pause. Read below to get the whole story.

Cloud online storage technology concept. with magnifying glass

Image source: Getty Images

First, the company from 30,000 feet

I’m a big fan of solid mission statements. When those mission statements can easily convey what a technology company does to a non-techie like myself, I like it even more. JFrog’s mission is “to power a world of continuously updated, version-less software.”  The company calls this “Liquid Software.”

If that still sounds confusing, think of it this way. Back in 2000, when I used TurboTax to do my taxes, I had to go to the store, buy the CD-ROM with the most up-to-date version (there are always tax changes), and install it on my computer. Only then could I actually start putting my information in. 

Today, TurboTax has moved to the web. There’s no physical CD to buy; the software is all updated by the time tax season starts. Huge parts of the process have been eliminated.

But JFrog wants to take it one step further: eliminate even periodic updates, allow software to be continuously and instantaneously updated. The company has six different modules that customers can use to do this, ranging from its core Artifactory (where coding packages can be stored) to Xray (scanning and securing software updates) to the actual distribution of those

12
Oct
2020
Posted in technology

TikTok rival Triller exploring IPO through SPAC merger: Report

  • Video app Triller is exploring the possibility of an IPO, sources told Reuters.
  • The company is reportedly in talks to set up a public listing via a merger with a special purpose acquisition company (SPAC).
  • It is simultaneously pursuing a private funding round, and sources told Reuters it had raised $100 million at a valuation of $1.25 billion so far.
  • The sources said no deal is yet firm, and that Triller is still deciding which path to take.
  • Visit Business Insider’s homepage for more stories.

Short-form video app Triller, which bills itself as a rival to the wildly successful TikTok, is reportedly exploring an IPO.

Reuters reported Sunday that Triller was in talks with investment bank Farvahar Partners about a potential merger and IPO.

Sources told Reuters the merger, if successful, would be with a special purpose acquisition company (SPAC). 

SPACs are essentially shell companies that go public to raise capital in order to acquire a company, allowing their target to easily obtain a public listing.

Triller was simultaneously in talks to raise a private fundraising round, sources told Reuters, adding that it had raised $100 million at a valuation of $1.25 billion so far.

Reuters’ sources said Triller was deciding whether to carry on with the private raise or forge a deal with the SPAC. They added that no deal was certain yet.

Triller was not immediately available to comment on the report when contacted by Business Insider.

Triller has positioned itself as an emerging competitor to TikTok, which it is suing for alleged patent infringement.

Last month it said it had 100 million monthly active users, and CEO Mike Lu told TechCrunch Disrupt on September 15 that the company’s growth was “definitely on a rocket ship.” 

TikTok remains much larger than Triller, with 689 million monthly active users