Yext is planning to raise $94 million in an initial public offering (IPO) and begin publicly trading under the symbol YEXT on the New York Stock Exchange (NYSE), on Thursday, April 13th. The company plans to issue 10,500,000 shares at a price of
$8.00-$10.00 $11.00 (update) per share.
Domain:
yext.com
Stock exchange: symbol |
NYSE: YEXT
Update for Thursday, April 13, 2017:
CLOSE $13.41 CHANGE $2.41 CHG % up 21.91%
Last year, Yext generated $124.3 million in revenue and had a net loss of $43.2 million. Yext has a market cap of $769.4 million.
Morgan Stanley, J.P. Morgan and RBC Capital Markets acted as the underwriters for the IPO and Pacific Crest Securities (a division of KeyBanc Capital Markets) and Piper Jaffray were co-managers.
Yext, located in New York City, was founded in 2006 and has 630 employees. Yext describes itself as
“a knowledge engine. Our platform lets businesses manage their digital knowledge in the cloud and sync it to over 100 services including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp. Digital knowledge is the structured information that a business wants to make publicly accessible."
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