Israeli business operating systems company monday.com has completed the pricing of its initial public offering on Nasdaq with great success. The company announced that it has set a price of $155 per share, well above the $125-140 range it set last week. The higher stock price gives Monday.com a valuation of $6.8 billion, making it one of the biggest offerings an Israeli company has ever offered on Wall Street. The company will begin trading later today on the Nasdaq under the MNDY index. Monday 2.0 expands app to enterprise operating system team management software Monday.com raised $150 million monday.com issued 3.7 million new shares, raising $574 million, which could increase by 57.4 million Another dollar, if insurers exercise their options within 30 days to buy 370,000 shares at the IPO price. Goldman Sachs and JPMorgan are the two major underwriting companies with the participation of Allen & Company, Jefferies and other investment banks. At the same time as the IPO, Salesforce Ventures and Zoom Video Communications committed to buying $75 million in stock each in a private placement. In the most recent funding round completed by monday.com in 2019, the company’s valuation was $1.9 billion, while that rose to $2.7 billion last year when existing Monday.com shareholders sold shares in a secondary deal. monday.com, founded in 2012 by co-CEOs Roy Mann and Iran Zinman, has 800 employees and is headquartered in Tel Aviv. monday.com has developed a working operating system (Work OS), where organizations of any size can create the tools and processes they need to manage every aspect of their business. In 2020, monday.com’s revenue grew to $161 million from $78.1 million in 2019, and it incurred an operating loss of $151 million. The company’s net loss widened from $91.6 million in 2019 to $152 million last year. In the first quarter of 2021, revenue was $59 million, up 84.7% from the corresponding quarter of 2020, while net loss expanded from $19.9 million to $39 million. Monday.com’s IPO is the fifth for an Israeli company on Wall Street since the beginning of 2021, after Playtika, Zim, Sameweb and Global-E. All of the IPOs had valuations in excess of $1 billion, and Monday.com became the second largest IPO after Playtika. More Israeli companies are expected to be floated in the coming months, with WalkMe, Kaltura and SentinelOne all filing prospectuses with the US Securities and Exchange Commission. Published by Globes, Israel business news – en.globes.co.il – June 10, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
monday.com completes its $6.8 billion Nasdaq IPO
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