Anaplan recently filed, but it’s not the next tech company to go public in the United States. That honor belongs to X Financial, Eventbrite, and Fartech.
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Yes, there are three domestic tech IPOs this week. One of the companies hails from China, one from the United Kingdom, and one from America itself. Here’s a quick peek at each offering.[irp posts=”15605″ name=”From Private To Public: How To Read An S-1″]
The peer-to-peer lending company is profitable and quickly growing. Revenue is skyrocketing (up hundreds of percent from 2016 to 2017, and from H1’17 to H1’18) while making money. That’s impressive and surprising. The IPO could raise as much as $139.2 million. X Financial’s IPO comes amidst a wave of Chinese debuts on American shores.
- Trading Date: Wednesday.
- Price Range: $9 to $11 per share.
- Crunchbase Profile / F-1
- IPO Update: X Financial Raises $104.5M In IPO, Begins Trading Today
Eventbrite is a venerable Internet company. Its filing includes quick growth and moderately growing losses. That Eventbrite can’t make money 12 years after its founding isn’t encouraging, but the company’s unprofitability likely won’t be too stiff a hindrance in the current market.
- Trading Date: Thursday
- Price Range: $19 to $21
- Crunchbase Profile / S-1
- IPO Update: Eventbrite Prices IPO At $23, The Top Of Its Raised Range
— 👨🏻💻☕️ (@hunterwalk) September 20, 2018
Farfetch is looking to raise a lot at a high valuation. The company’s gross margins recovered in 2017 from declines in 2016, but Farfetch’s cost structure grew at a pace that greatly exceeded that of its gross profit. The firm’s loss after tax more than doubled in the first half of 2018 compared to the same period of 2017. Farfetch is likely hoping for a tech multiple on a fashion business that includes an offline component. How the market prices its shares will, therefore, be interesting.
That’s one hell of a week! More as each company prices, and start trading.
Top Image Credit: Li-Anne Dias