Cloud Computing: Zendesk plans IPO Thursday
May 15, 2014
Grazed from SFGate. Author: Kristen V. Brown.
Zendesk, a San Francisco cloud computing customer service company, is expected to make its much-anticipated New York Stock Exchange debut on Thursday. Here’s what you need to know:
Who: Zendesk, founded in 2007, sells what’s known as software-as-a-service. It’s a subscription-based platform that helps companies communicate with customers through e-mail, chat, voice calls, social media and websites…
What: Trading under the ticker symbol ZEN, the Mid-Market Street company is planning to offer 11 million shares, priced between $8 and $10. At $9 per share, Zendesk would be valued at about $632 million.
The numbers: Last year, Zendesk posted revenue of $72 million and a net loss of $22.6 million. That’s a revenue growth rate of 88 percent, compared with 2012 earnings of $38.2 million. It has 42,000 customer accounts, according to its initial public offering filing…
Read more from the source @ http://www.sfgate.com/technology/article/Zendesk-plans-IPO-Thursday-5478929.php