Popular tech start-ups made Business Insider‘s list of potential IPO candidates to keep track of in 2017
Candidate: Snap Inc.
There’s been much talk about Snapchat lately, especially in the fact that it’s parent company Snap Inc. confidentially filed its paperwork in November 2016 for an initial public offering. The popular messaging app is valued at $25B and could be one of the “highest-profile stock debuts in recent years“. Adding to the potential of an IPO includes the fact that Snap Inc. has already chosen Morgan Stanley and Goldman Sachs as it’s bankers. Snapchat has over 150 million users, and earlier this year, the company told investors that it expected between “$250 million and $350 million of revenue in 2016 and as much as $1 billion next year“.The photo and video sharing company could list as soon as March .
Another well-known name in tech startups and listed in the Business Insider report is Dropbox, run by CEO Drew Houston. One of the fastest-growing cloud-service companies in the world, Dropbox has raised more than $600M and was reportedly valued at $10B in its last round in 2014. The company announced earlier in 2016 it had become “cash-flow positive”, but wants to remain independent for now, as Houston stated, “We have the flexibility to go when the timing is right for us”. According to Bloomberg however, the company has had exploratory talks with bankers about an IPO as early as 2017.
Cloudera – an enterprise software company that has partnerships with Intel, Microsoft, and IBM to name a few, told Forbes in April that it “fully intends to be a public company”. CEO Tom Reilly did state that they are “operating well enough to be a well-run public company“, but the market isn’t favorable enough to join as a public company right now. Sources familiar with the company say that a 2017 IPO could still be an option, depending on the market conditions.