On Monday, August 24, 2020 ,six technology startups filed for initial public offer, IPO. Asana, Snowflake, Unity, Palantir, JFrog, and Sumo Logic, all submitted their S-1s, marking one of the busiest days in history for United States\u2019s Securities and Exchange Commission, SEC filings. With the stock market recovered from its COVID-induced drop in April, tech companies are looking to cash in.
Asana, a work management platform that competes with Jira, reported 86 per cent ,Year on Year revenue growth with over 1.2 million paying users. Founded by Facebook co-founder Dustin Moskovitz in 2008, Asana made $143M in revenue in the past fiscal year.<\/p>\n\n\n\n
Unity, a 3D video game development platform founded in 2004, made $350M in revenue in the first half of 2020. Over 50 per cent of mobile, PC, and console games use Unity in some form, including Mario Kart: Tour and Pokemon GO.
Snowflake Computing, a data warehousing startup founded in 2012, has been growing like gangbusters, tripling its revenue to $242M in the first half of 2020.
Palantir, a startup founded by Peter Thiel, that sells data products to governments, also filed to go public. The company booked $742M in revenue across only 125 customers, with more than $200M of that revenue coming from its top three customers. In spite of that strong showing, the company booked a $580M loss last year.
If there\u2019s a lesson to be taken from this wave of IPOs, it\u2019s this: be patient. The aforementioned startups were founded in 2008, 2004, 2012, and 2003.<\/p>\n\n\n\n
Funding and acquisitions
Lambda School has raised $74 million to support the company\u2019s mission to unlock student potential. Lambda School runs virtual computer science programs for $30,000. Payments for the course are based on a sliding scale that only kicks in after participants land a job that earns at least $50,000. Lambda School will use the round of financing to meet surging demand for its programs.
Spaces, a VR startup that spun out of DreamWorks Animation, has been acquired by Apple. Spaces most recently built a VR add-on to Zoom, which allows users to participate in meetings with an animated avatar. Apple has been developing its own AR\/VR headset and has acquired a number of startups in the space.
MURAL, a visual collaboration startup that provides a whiteboard-like digital environment, announced it has raised a $118 million Series B. The startup has seen explosive growth since the onset of COVID-19, tripling revenue and adding over 1M monthly active users.
Socure, a cloud-based identity verification startup, closed a $35 million round. Socure\u2019s digital verification suite leverages machine learning and predictive analytics to authenticate people from \u201cthousands\u201d of data points. The startup then tabulates \u201ctrust scores\u201d in less than a second and explains its conclusions in detail.<\/p>\n\n\n\n
source:Angelist<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"
On Monday, August 24, 2020 ,six technology startups filed for initial public offer, IPO. Asana, Snowflake, Unity, Palantir, JFrog, and Sumo Logic, all submitted their S-1s, marking one of the busiest days in history for United States\u2019s Securities and Exchange Commission, SEC filings. With the stock market recovered from its COVID-induced drop in April, tech […]<\/p>\n","protected":false},"author":1,"featured_media":1260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":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":""},"categories":[23],"tags":[],"class_list":["post-1259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information-technology"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/thecustomsstreetjournal.com\/wp-content\/uploads\/2020\/08\/tech-start-ups.jpg?fit=262%2C193&ssl=1","_links":{"self":[{"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/1259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=1259"}],"version-history":[{"count":1,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/1259\/revisions"}],"predecessor-version":[{"id":1261,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/1259\/revisions\/1261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/media\/1260"}],"wp:attachment":[{"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=1259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=1259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thecustomsstreetjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=1259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}