monday.com ended the first day of trading with a sharp rise بارتفاع

The share price of Israeli business operating system company monday.com (Nasdaq: MNDY) ended its first day of trading on Wall Street up 15.4% at $178.87, giving a market value of $7.85 billion. On Wednesday, monday.com issued 3.7 million new shares, raising $574 million, which could increase by another $57.4 million, if underwriters exercise their options within 30 days to buy 370,000 shares at the IPO price. This makes monday.com the largest IPO ever by a major Israeli-based company (Playtika’s IPO in January was bigger but the gaming company is owned by Chinese investors). monday.com Completes $6.8 Billion Nasdaq Initial Public Offering Monday Zoom Video Communications $75 million in stock each in a private position. 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. After the initial public offering, Zinman told Globus, “We believe this is only the beginning and that we are operating in a very fertile area.” We are only at the beginning of a trend and are seeing long-term growth over many years. We certainly intend to grow very quickly and take advantage of the tremendous opportunities that we have identified. We are proud to be an Israeli company with its headquarters, which will continue to be in Israel and build a large company and a world leader in a category we have created – Business Operating Systems. “We have identified a massive opportunity that includes basically everyone who works with a computer, and about 1.2 billion information workers in the world. We want to give organizations and individuals the ability to create their own software so they can build and control the future management of their organization.” Zinman and Mann asserted that their employees benefited from the IPO through the shares they own. “This has been important to us from the start. The success is shared by the entire company and every one of our employees around the world.” Published by Globes, Israel business news – en.globes.co.il – on June 11, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021