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Virginia-based Appian is finally braving the public markets, after a long journey as a private company formed in the dot-com boom of 1999.<\/p>\n
Appian\u00a0announced Wednesday that they priced their IPO at $12 per share, raising $75 million for the company. This is in-line with the previously proposed price range of $11 to $13.<\/p>\n
Appian provides app development software\u00a0for its business and government customers. \u201cWith our platform, organizations can rapidly and easily design, build and implement powerful, enterprise-grade custom applications through our intuitive, visual interface with little or no coding required,\u201d\u00a0the company explained in their S-1\u00a0filing.\u00a0<\/a><\/p>\n Appian acknowledges that its biggest competitors are Salesforce and ServiceNow. IBM and Oracle are also in related spaces.<\/p>\n The company\u2019s revenue is growing. They brought in $132.9\u00a0million last year, compared to $111.2 million in 2015 and $89 million in 2014.<\/p>\n \u201cAlthough we have experienced rapid revenue growth historically, we may not continue to grow as rapidly in the future and our revenue growth rates may decline,\u201d Appian warned in the \u201crisk factors\u201d section of its IPO filing.<\/p>\n The company also incurred a loss of $12.5 million. Appian lost $7 million in 2015 and $17.1 million in 2014.<\/p>\n Founder and CEO Matt Calkins has\u00a0a 54.7% stake. He founded the company at age 26.<\/p>\n Novak Biddle Venture Partners has the next largest stake, owning 21.5% prior to the offering. New Enterprise Associates (NEA) owns 11.7%.<\/p>\n Appian raised over $47 million<\/a> dating back to 2008.\u00a0The company reportedly was valued above\u00a0$1 billion<\/a>, colloquially known as a \u201cunicorn.\u201d The IPO values the company closers to $700 million.<\/p>\n Morgan Stanley, Goldman Sachs and Barclays are managing the offering.\u00a0The company is listing on the Nasdaq.<\/p>\n The IPO window is widely considered to be open, but the month of May has been pretty dead for tech. Snap opened up a wave of tech IPOs which carried through March and April. Companies tend to watch the performance of other debuts before braving the public markets.<\/p>\n The venture capital model is built around \u201cexits,\u201d also known as acquisitions and IPOs. These are the deals that fund the whole ecosystem. But the availability of late-stage capital has also meant that companies have been opting to stay private longer, because they can.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n <\/p>\n Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/6dNSkUEhmJA\/<\/p>","protected":false},"excerpt":{"rendered":" Virginia-based Appian is finally braving the public markets, after a long journey as a private company formed in the dot-com boom of 1999. Appian\u00a0announced Wednesday that they priced their IPO <\/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-5699","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