With Arm having a ‘near monopoly’ over parts of the market, the listing could be one of the hottest IPOs in 2023.įounded in 2013, Databricks is a cloud-based platform that unifies and simplifies data systems, for better organization and collaboration within companies. This means that almost every internet user is exposed daily to a product built with Arm technology, including cars, smartphones, drones, and even electronic passports. According to their website, about 70% of the world population uses Arm-based technology across all markets. Arm Holdings specialises in chip architecture, meaning that they don’t simply manufacture microchips, they also design them. Once described as ‘the jewel in the crown of British technology’, Arm Holdings was bought by Japan’s internet firm Soft Bank in 2016 in a $32 billion deal. Of course, the current turmoil in the global banking system could delay further some of these Initial Public Offerings, as some companies might choose to wait out the financial effect on the stock market.Īs soon as the prices from the exchange become available to our liquidity providers you can trade the following IPOs with Axi. Those include major names from the Technology, Blockchain, and Neo-banking industries such as Revolut, Monzo, Kraken, Arm Holdings, Klarna, Starling Bank, Databricks, and more. The IPO market is expected to recover sometime this year with a number of highly-anticipated IPOs. Global IPO volumes fell by 45% following increased market volatility, high inflation, and rising interest rates. Houzz’s offerings include a furniture marketplace, editorial content, data-based reports, software, and more, and its goals with its IPO raise questions on the company’s next big move.2022 was a turbulent economic year that resulted in a major slump in Initial Public Offerings. When Houzz laid off 180 employees in January 2019, a source also shared that it was a move to slash costs in order to beef up profit prior to going public. ![]() Though Wong departed Houzz in November 2020, leaving the position vacant. Wong assisted LinkedIn with its IPO, ultimately leaving the company with the title of “IPO of the Year” but IR magazineand more than $5 billion in revenue. Talks about a Houzz IPO first occurred in 2018 when the company poached former LinkedIn exec Richard Wong as its first chief financial officer. And CEO Adi Tatarko previously stated Houzz experienced a 60% growth in homeowners seeking professional services on the platform in 2020. ![]() Instead, the company launched its software tool: Houzz Pro. In addition to laying off staff, Houzz executives took a pay cut, and the company halted its plans for a furnishings line. Just as the housing and remodeling industries boomed in response to the pandemic, so has Houzz, despite laying off 10% of its employees, or 155 staff members at the start of the pandemic. ![]() The company has raised more than $650 million in private funding since its creation in 2009, says Reuters. Houzz’s last round of private funding in 2017 resulted in a $4 billion valuation. Companies go public in order to raise capital unavailable to them as private companies, welcoming outside investors and, ultimately, shifting how the business operates and positioning it for expansion. The IPO date is subject to change, the source says, as it depends on market conditions. The source told Reuters that Houzz hired Goldman Sachs to prep the company’s initial public offering (IPO), set for early 2022. A future of expansion may be in Houzz’s future as a source shared details on the online remodeling platform’s upcoming plans for entry into the stock market.
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