{"id":4066,"date":"2017-03-14T05:13:00","date_gmt":"2017-03-14T05:13:00","guid":{"rendered":"https:\/\/www.rsoftsolution.com\/blog\/new-york-based-yext-files-for-ipo.html"},"modified":"2017-03-14T05:13:00","modified_gmt":"2017-03-14T05:13:00","slug":"new-york-based-yext-files-for-ipo","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/new-york-based-yext-files-for-ipo.html","title":{"rendered":"New York-based Yext files for IPO"},"content":{"rendered":"


\n<\/p>\n

Yext, the company that powers\u00a0location data in search results, has revealed its IPO filing<\/a>. The business\u00a0will be able to\u00a0join the stock market as soon as April.<\/p>\n

The offering is said to raise $100 million, but that number is subject to change. We will get more of an indication in the coming weeks about how Yext plans to price its shares.<\/p>\n

With clients like Best Buy, McDonald\u2019s and Marriott, Yext is responsible for the location results that appear on search engines, social media and maps.\u00a0The company had the early vision that consumers would prefer to find nearby\u00a0locations without visiting brand\u00a0websites.<\/p>\n

The\u00a0company\u00a0brought in $88.6 million in revenue in the nine months ending in October of last year, with losses of $28.6 million for the same time frame. Revenue\u00a0is up from $64 million in the same period the year before and losses narrowed to $18.2 million.<\/p>\n

\u201cWe have a history of losses and may not achieve profitability in the future,\u201d the company warned in its risk factors section of the filing. They also cautioned about their dependencies on third-party resellers, which accounts for a \u201csignificant portion\u201d of revenue.<\/p>\n

With an army of Salesforce alums, some Yext employees look up to charismatic leader Howard Lerman\u00a0and often compare him to Marc Benioff.\u00a0<\/a><\/p>\n

Founded in 2006, Yext has been rumored to go public for several years now.\u00a0The company raised more than $117 million in venture funding at more than a $500 million valuation.<\/p>\n

Sutter Hill Ventures<\/a> owns 23.6 percent of Yext leading into the IPO. Institutional Venture Partners, Marker Financial Advisors and Insight Venture Partners also have large stakes<\/a>.<\/p>\n

The filing puts Yext on a short-list of New York tech companies that have made the journey from startup to the stock market. Etsy and OnDeck are also on that list.<\/p>\n

<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/ZmMVqZ3NgKE\/<\/p>","protected":false},"excerpt":{"rendered":"

Yext, the company that powers\u00a0location data in search results, has revealed its IPO filing. The business\u00a0will be able to\u00a0join the stock market as soon as April. The offering is said <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-4066","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t