FindCloudHost.com > Cloud Web Hosting News

San Francisco-based Cloud Startup Zendesk Inc. Plans IPO

May 06, 2014
by Staff Writer

San Francisco-based cloud startup Zendesk Inc. is planning an Initial Public Offering (IPO) with the aim of raising more than $111 million and looking to a post- IPO valuation of $700 million. The company aims to sell 11.1 million shares at prices ranging from $8 to $10 per share.

Zendesk offers cloud-based customer support options that allow users to create ticket views and automate procedures. It offers a range of communication channels including email, Twitter, phone calls and chat conversations, and enables customers to build self-service communities.

Zendesk’s solutions aid more than 40,000 customers who pay fees of between $1 and $195 a month to license employees to use its software. The company lost $24.4 million in 2012 and $22.6 million in 2013. The promise of the company is an 88% increase in revenue which topped $72 million in 2013.

The company’s IPO plans come against a backdrop of reduced interest in cloud companies as far as the stock exchange is concerned. No date has been set for the IPO. 10% of the company’s shares are currently owned by CEO Mikkel Svane, while 8% are owned by fellow co-founder and Chief Product Officer, Alexander Aghassipour.

Do you know of any other companies heading for an IPO? Let us know the details. Add your comments below.

Comment News

Connect with