Elastic, the provider of subscription-based data search software used by Dell, Netflix, The New York Times and others, has filed for IPO. They're looking to raise $100M.
This IPO is similar to recent tech IPO's like Twilio, Mulesoft, and MongoDB, all in the Open Source SaaS space.
Some Key Stats:
- They're growing at almost 100%. Twilio filed for IPO growing at 70% per year. Mulesoft was growing at 60%. Mongo was growing at 50%.
- Losing $50M on $150M of revenue (-33% net margin). In line with Twilio and Mulesoft. MongoDB was significantly worse at -60% net margins.
- We'll probably see a valuation of ~15x the proposed amount they're looking to raise.
An interesting company, with great tech solving a real problem. Do you think this will follow the successful trend of recent IPO's like $TWLO and $MDB?
Submitted September 06, 2018 at 06:52AM by -GreyMilk- https://ift.tt/2M5hNli
