Yext is a new startup with headquarters in New York. The company comes to the aid of businesses by offering them full access to their own network of products, employees, and places. Thanks to one platform called Yext Knowledge Engine, people can shape their brands through multiple mediums. After eight years of being active in the Business to Business sector, Yext is now ready to become a public tech company. The company announced a price tag of $11 for its initial public offering, which will bring the final pricing at $115.5 million.
The Greenshoe Strategy Can Boost Final Pricing at $133 Million
On March 13, 2017, Yext officially filed for an initial public offering. By doing so, the platform became the second tech company this week that went public. There are many signs within the industry that indicate a vertiginous ascending for the company. For instance, despite the controversy that shrouded the company, Snap’s IPO remains a successful event. Moreover, there are several other tech IPOs that enjoy great esteem since their public debut. As a consequence, there is no cloud that can eclipse the achievement of the startup.
The company offered more details about its latest project. Yext is going to offer a total of 10.5 million shares. Its underwriters only can take advantage of the opportunity to purchase 1.6 million extra shares. The initial price will aim at something between $8 and $10 per share. With the option of extra shares, which is a strategy dubbed as greenshoe, the company can bring its final pricing to somewhere around $133 million.
Yext Offers Businesses Coverage across More than 100 Platforms
The first several days of public debut will be crucial for Yext. The company went all in with this decision which also is the centerpiece of its fundraising efforts. Even though the demand for tech IPOs is strong nowadays, the company has to strive at least to look prosperous in the beginning. Interested investors might wait for a while to see how things progress before plunging into the opportunity.
Besides a successful company, Yext is also an honest and helpful solution for one of the main modern issues any business confronts with nowadays. This particular concern regards becoming approachable. With such an abundant online content, consumers’ attention is drawn frantically from one competitor to another. Yext makes sure they remember important location details about a brand they liked, be it through Google Maps, Siri, Yelp, Bing, Facebook, and other more than 100 digital platforms.
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