WalkMe prices Nasdaq IPO at $2.6b valuation

WalkMe prices Nasdaq IPO at $2.6b valuation

Israeli digital adoption SaaS company WalkMe today reports that it has priced its IPO on Nasdaq at the upper end of the price range cited in the terms it set last week. The company has raised $287 million at $31 per share, giving a nearly $2.6 billion valuation and will begin trading today using the WKME ticker, Trend reports with reference to Globes.

The amount raised will increase by $43 million, if the underwriters fully exercise their options. Morgan Stanley, Goldman Sachs and Citigroup are acting as lead book-running managers for the offering. Wells Fargo Securities, Barclays and BMO Capital Markets are acting as joint book-runners and JMP Securities, KeyBanc Capital Markets and Needham & Company are acting as co-managers for the offering.

WalkMe plans using the funds raised for general business purposes, working capital, operational and capital expenses and perhaps acquisitions of companies or technologies.

WalkMe's last financing round in 2019 was completed at a valuation of $1.9 billion. The company has developed an enterprise guidance and engagement platform that enables website owners and software developers to create interactive on-screen guidance sequences to help users complete complex tasks.

WalkMe was founded in 2011 by CEO Dan Adika, president Rephael Sweary and Eyal Cohen, who has since left the company. In 2016, WalkMe was chosen as "Globes" most promising startup of the year.

In the first quarter of 2021, WalkMe's revenue grew 29.8% from the corresponding quarter of 2020 to $38.5 million, while net loss widened 9.2% to $13.4 million. 2020 revenue was $130 million, up 37.5% from 2019 and net loss was $45 million, compared with $50.1 million in 2019. WalkMe's customers include LinkedIn, CitiGroup, Chevron, and AstraZeneca.

The company has raised $308 million from investors including Insight Partners, Greenspring Associates, Vitruvian Partners, Scale Ventures, Mangrove, and Gemini. Insight Partners is WalkMe's largest shareholder with a 28.4% stake worth $727 million. Greenspring Associates has a 12.5% stake worth $321 million, Scale Venture Partners has a 11.4% stake worth $294 million, Gemini has a 9.4% stake worth $240 million, and Mangrove has a 7.6% stake worth $195 million. The founders Adika and Sweary each have around 2.5% of the company.

WalkMe is the fifth IPO of an Israeli tech company on Wall Street this year worth more than $1 billion, after gaming company Playtika, web behavior and traffic analytics company SimilarWeb, international e-commerce platform Global-E and last week work operating system company monday.com.

Friendship, fruitful partnership between Azerbaijan and Israel - solid foundation for development of relations – Minister
Friendship, fruitful partnership between Azerbaijan and Israel - solid foundation for development of relations – Minister
ICL reports jump in profit and revenue in Q2
ICL reports jump in profit and revenue in Q2
BioLight invests in US peripheral vision home test co
BioLight invests in US peripheral vision home test co
Loading Bars
Latest
India sends another Oxygen Express to Bangladesh
India To Have Submersibles That Can Carry Scientists To Depth Of 6,000 Metres Into Sea - Minister
Dr Reddy's Says Made-In-India Sputnik V Doses To Be Available From September-October
Indian Astronomers On Team Which Spotted Shortest Gamma-Ray Bursts From Dying Star
Iran, Austria stress judicial, human rights cooperation
Need effective mechanism to address global vaccine inequity - India in UNSC
Harappan city of Dholavira in Kutch among UNESCO’s world heritage sites
Bipartisan group of U.S. senators reportedly agree on infrastructure package
US supports India's emergence as leading global power - State Department
Defence Minister Rajnath Singh begins 3-day visit to Dushanbe to attend SCO meet
Turkey notes substantial growth in car exports to US
Uzbekistan's 1H2021 main exporters revealed
U.S. crude oil inventories decrease last week
Azerbaijani FM talks with US Assistant Secretary of State
Uzbekistan’s Khorezm region accounts for largest share of fish caught
Georgia begins large-scale co-financing program for agricultural mechanization
Turkmenistan, Tajikistan sign protocol of tenth meeting of the intergovernmental commission
Turkey reports 22,291 new COVID-19 cases
Friendship, fruitful partnership between Azerbaijan and Israel - solid foundation for development of relations – Minister
Turkmenistan sees increase in production in agro-industrial sector
Kazakhstan, Uzbekistan get acquainted with "Azerbaijan" RoPax-type ferry vessel
WB notes key factor in supporting Azerbaijan's anti-corruption efforts
Kazakhstan leads in Central Asia by attracting funds to develop water and energy complex
Non-oil sector becoming main revenue source for Azerbaijan - expert
Uzbekistan’s 1H2021 crop production down
Georgia sees increase in peaches export
Georgia shares data on fully vaccinated people
Deposits in Azerbaijani banks increase in 1H2021
Azerbaijan’s PASHA Bank ends 2Q2021 with profit
Liabilities of Azerbaijan's PASHA Bank grow as of 2Q2021
Azerbaijan's PASHA Bank sees increase in assets
Central Bank of Azerbaijan puts short-term notes up for auction
Azerbaijani Finance Ministry puts up mid-term state bonds for new auction
Azerbaijan temporarily limits imports of animal products from Libya
Foreign policy of Azerbaijani president is aimed at victory and dev't
Russian president discusses situation on the Armenian-Azerbaijani border during Security Council meeting
Azerbaijan sees growth in bank deposits in 1H2021
Azerbaijani FM, chair of Pakistani National Assembly discuss regional security issues (PHOTO)
Azerbaijan ready to implement experience of US companies on 'smart technologies' - minister
Azerbaijan announces number of citizens vaccinated on July 28
Daily number of people infected with COVID-19 exceeds 700 in Azerbaijan
Rumors of Turkish Grand National Assembly's statement on creation of joint Turkic army - not true (VIDEO)
Saudi Arabia's oil exports climb 147% to $16 bln in May
ICL reports jump in profit and revenue in Q2
Non-resource and non-energy export gained 30% in H1 2021 — Russian Export Center
Azerbaijan's Chamber of Accounts takes prominent place in WB report
Italian regulator endorses Moderna COVID-19 vaccine for teens
Boeing posts first profit in almost two years helped by 737 MAX deliveries
AZAL to Start Testing IATA Travel Pass Application on the Most Popular Destinations (VIDEO)
Mine clearance underway on suburbs of reservoir in Azerbaijan's liberated Khojaly - Trend TV (PHOTO)
Uzbekneftegaz looks to introduce advanced technology for gas purification
Kazakhstan increases passenger cars manufacturing
Turkmenistan's trade turnover up
Stability of manat, low inflation in Azerbaijan facilitate economic growth - expert
Kazakhstan’s Altynalmas AK pays out dividends for 2Q2021
Azerbaijani defense minister meets with delegation from Oklahoma (PHOTO)
Turkey sees sharp increase in grain exports to Uzbekistan
Bank lending grows in Azerbaijan in 1H2021
Azerbaijan allocates funds for construction of road infrastructure in Kalbajar, Lachin
Economic growth, social welfare - main priorities of Azerbaijan's state budget
BioLight invests in US peripheral vision home test co
UAE's biggest lender FAB posts 19% jump in Q2 net profit
bp announces planned time of commencing drilling of 3rd well for SWAP
bp to work out ESIA for 3rd well at SWAP by end-2021
Russia’s daily COVID-19 cases fall below 23,000 for the first time since June 30
‘Georgian Dream’ ruling party withdraws from EU-brokered agreement
Azerbaijan's SOFAZ unveils 1H2021 revenues from ACG field
Azerbaijan discloses amount of loans accounting for households
Pfizer raises estimates for 2021 sales of COVID-19 vaccine to $33.5 bln
Turkmenbashi Complex of Oil Refineries opens tender on modernization at polypropylene production plant
Kazakhstan offers Moldova’s entrepreneurs to use its int'l trade centers
Kyrgyzstan passes peak of third coronavirus wave
Prosecutor demands imprisonment for Armenian terrorists who tortured Azerbaijanis during first Karabakh war
Baku court sentences Armenians accused of espionage
Kazakhstan needs to become self-sufficient in agricultural products - president
UK significantly increases import of Kazakh-made products
Azerbaijan creates mobile app for checking COVID passports
Reconstruction of highway connecting several settlements under completion in Azerbaijan’s Tartar district (PHOTO)
Iran's Jask oil terminal reduces oil export costs
Oil refinery in Uzbekistan opens tender for raw materials
Georgia reveals COVID-19 data for July 28
Armenian side demonstrates disrespect for peace, coexistence in region – Azerbaijani ombudsman
Azerbaijan has great potential in creation of artificial lighting systems - Signify
Equinor set to boost production as of 2021
Azerbaijani diaspora reps visit Jidir Plain in Shusha (PHOTO)
Kazakhstan’s MunaiTas opens tender for SCADA systems integration
Iran to open first section of Chabahar-Zahedan railway
Indian embassy in Baku inaugurates Indian Gallery within Gobustan National Historical Artistic Preserve (PHOTO)
OGVs carrying basic goods arrive at Iran's Imam Khomeini port
New sewing enterprise established in Georgia’s Adjara
Iran re-opens decommissioned power plants
Iran talks inactivity of its production factories in industrial towns
Kazakhstan's export to Italy down over 5M2021
Azerbaijani currency rates for July 28
Most of Azerbaijan's SOFAZ assets placed in USD
Japan to allocate funds for dev’t of women's entrepreneurship in Uzbekistan
UAE's top banks post strong Q2 net profit amid recovery from pandemic
Gold price in Azerbaijan continues to rise
Russian-US strategic stability consultations begin in Geneva
Subsidiary of Kazakhstan-based Nostrum Oil & Gas to process gas from field in country's west
All news