Fitbit’s IPO

Fitbit priced its 37 million share IPO on the NYSE on June 17 for a first trade on the following day at $20 per share. 22.4 million Class A shares were offered by Fitbit, thus raising $448 million for the company, while pre-IPO investors sold 14.2 million shares. continue reading

Box IPO: Freemium Pioneer

Box (NYSE: BOX), the operator of a cloud-based collaboration platform, is a recent addition to the Software sector coverage of our Battle Road IPO Review. Box was founded in Mercer Island, Washington in 2005 by Aaron Levie, Dylan Smith, Sam Ghods and Jeff Quesisser, following research conducted by the group, which examined corporate cloud requirements. Levie is currently the CEO, Smith is CFO, and Dan Levin is COO and president of the company. Today, Box is based in Los Altos, California. Consensus estimates call for calendar year 2015 (fiscal year ending January 31, 2016) revenue of $290 million, up from $216 million in calendar 2014. The company’s loss per share is expected to narrow from $4.96 to $1.18 in the same time period. continue reading