Here Are Tech’s Next IPOs

Morning Report: Here are the next tech IPOs happening here in the States.

While the technology industry digests the fact that will.i.am’s floundering hardware project has pivoted into enterprise voice assistants, raising a nearly-$90 million round this year in the process (even though some say it’s closer to $117 million), more normal things grind along.

To that end, let’s check in on the IPO market. Who is coming up next, and who is in the wings? Let’s find out.

Up Next

First up is Sogou, the profitable Chinese search engine that is listing here in the United States. You can read our initial dive here. The firm has deep ties to the Tencent empire, which itself has had an amazing run in the past year, roughly doubling in value on the public market. Sogou, currently listing a price range of $11 to $13 per share, will go public on November 9th.

Next up, Bandwidth Inc. is going public. We put out a quick primer on the company. The company will sell 4 million shares at a price of $20 to $22 each, raising under $100 million at current expectations, not counting the potential greenshoe add-on. The firm will go public on November 10th, barring issues.

A few days later Sendgrid will test the IPO waters. The firm (more on its financials here) intends to sell 7.7 million shares at a price of $13.50 to $15.50 apiece, bringing in around $120 million at the top price, again discounting a potential greenshoe. The firm intends to list on November 15, just over a week from today.

StitchFix is up next, looking to sell 10 million shares at a price of $18 to $20 apiece. The firm surprised the market with huge revenues and impressive rates of profitability when it filed. On November 17th, it will try to convert that enthusiasm into public market success.

And, finally, SailPoint, a firm that you probably haven’t heard of, will go public alongside StitchFix on the 17th. The firm, which, according to Crunchbase, “develops identity governance software,” will sell 20 million shares at a price between $9 and $11.

And that’s just firms that have known list dates. There are other players in the pipeline, like Zscaler and Aquantia, that could make it out before the year ends. We’ll see.

From the Crunchbase Daily:

Tech giants now worth $3.3 trillion

• The five biggest technology companies all reported earnings that pleased Wall Street, and they’ve been richly rewarded. The Big 5 are now worth not merely $3 trillion, but roughly $3.3 trillion. But are the good times for the big shots good for everyone? Perhaps not, Crunchbase News reports.

Will.i.am raises $117M for voice assistant

• I.am+, the tech startup founded by pop star and entrepreneur Will.i.am, has raised $117 million in venture funding as it moves into the corporate computing business with a customer service voice assistant called Omega.

Avast planning big IPO

• Security software developer Avast is preparing for an initial public offering that could value the popular Prague-based antivirus app provider at as much as $4 billion, Reuters reports. Avast is reportedly likely to list shares in London in the first half of 2018.

Kobalt raises $600M for music royalties

• Kobalt, a startup providing music publishing and royalty collection services, has raised $600 million in equity and debt for its music royalty fund, Kobalt Capital. The fund previously raised $350 million in 2011.