Similarweb (SMWB) stock starts trading on NYSE today in IPO

Information analytics agency Similarweb will make its debut as a publicly traded firm today in what it hopes will turn out to be the most recent tech-focused float to win over buyers.

The Tel Aviv-based firm has priced its shares at $22.00 and can commerce on the New York Stock Alternate. Trading is predicted to start Wednesday beneath the ticker image SMWB.

In a yr punctuated by direct listings and SPACS, Similarweb has opted for the normal IPO route, with J.P. Morgan, Citigroup, Barclays, and Jefferies performing as joint book-running managers, and JMP Securities, Oppenheimer & Co., and William Blair performing as co-managers for the providing.

Eleven-year-old Similarweb provides information analytics, internet statistics, and numerous sorts of market analysis to companies. Whereas it’s not a family identify amongst on a regular basis customers, the corporate counts many retailers and enormous tech and monetary companies as its prospects, and stated it had greater than 2,700 paid subscribers as of December 2020. It additionally provides a collection of free providers with the intention of attracting new prospects and changing them into paid customers.

In a latest submitting with the Securities and Alternate Fee, Similarweb said it generated $93 million final yr, in comparison with $71 million the yr earlier than and $52 million in 2018. It had a internet lack of $22 million for the twelve months ended December 2020.