Apigee Corp. S-1 Analysis (NASDAQ:APIC)

Apigee Basic Info

Exchange: NASDAQ

Proposed Symbol: APIC

Employees: 404

CEO: Chet Kapoor

Offer Amount: $105.880524 mm

No. of Shares: 5.115 mm

Price Range: $16-18

Expected IPO Date: April 24, 2014

Description from S-1: “At Apigee, our mission is to make every business a digital business. Unprecedented growth in mobile technologies, big data, cloud services and the connected devices that comprise the Internet of Things, or IoT, has disrupted or transformed the dynamics of business, changed consumer behavior and eroded the divide between the physical and digital worlds. To fully embrace the digital world, businesses must provide seamless customer experiences across a myriad of devices and channels, respond quickly to fast-changing customer expectations and market conditions, drive revenue through new business models and create or participate in digital ecosystems. A digital business creates value by unlocking its data and services to better serve customers in a real-time, anywhere-anytime fashion and uses data to continually improve the customer experience and drive additional revenue. ”

From the S-1

Underwriters:

  • Lead Underwriter: Morgan Stanley, JP Morgan, Credit Suisse
  • Co-Managers: Pacific Crest Securities, JMP Securities, Nomura

Allocation of Proceeds:

  • The company plans to hire more employees in multiple locations globally to increase Etsy’s visibility and to help elevate the company’s sellers and attract more buyers.
  • The company also says it will use $300,000 of the proceeds to partially fund Etsy.org, which is a nonprofit organization formed in January 2015 dedicated to educating and helping women and other underrepresented entrepreneurial populations build businesses.

Total Assets: $75.92 mm

Sales (last 12 months): $61.9 mm

Market Cap at Midpoint of Current Price Range: $494.7 mm

Competitors:

  • Mashery (acquired by INTC), Layer 7 (acquired by CA)

Other Notes

  • Based in New York City
  • Founded in 2004
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