Banking, finance, and taxes
Cardlytics Announces Potential Pricing for IPO
Published:
Last Updated:
Cardlytics has filed an amended S-1 form with the Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The Atlanta-based unicorn intends to price its shares in the range of $13 to $15, with an overallotment option for an additional 810,000 shares. At the maximum price, the entire offering is valued up to $93.15 million. The company intends to list its shares on the Nasdaq under the symbol CDLX.
The underwriters for the offering are Merrill Lynch, JPMorgan, Wells Fargo, SunTrust Robinson Humphrey, Raymond James, and KeyBanc.
According to the firm, Cardlytics makes marketing more relevant and measurable through its purchase intelligence platform. With purchase data from over 2,000 financial institutions, it has a secure view into where and when consumers are spending their money. By applying advanced analytics to this massive aggregation of purchase data, the firm makes it actionable, helping marketers identify, reach and influence likely buyers at scale, and measure the true sales impact of their marketing spend.
This collection of debit, credit, ACH, and bill pay data represented roughly $1.3 trillion in U.S. consumer spend in 2016. In 2016, its platform analyzed over 18.0 billion online and in-store transactions across more than 94.0 million accounts in the United States, representing one in five debit and credit card swipes in the United States.
In terms of its finances, the company reported:
Our revenue, which excludes consumer incentives, was $53.8 million, $77.6 million and $112.8 million, for 2014, 2015 and 2016, respectively, representing a compound annual growth rate of 44.8%. Our revenue for the nine months ended September 30, 2017 was $91.1 million. For 2014, 2015, 2016 and the nine months ended September 30, 2017, our net loss was $38.9 million, $40.6 million, $75.7 million and $15.6 million, respectively.
Cardlytics intends to use the net proceeds from this offering for working capital and general corporate purposes.
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
