Monday.com has officially gone public! For those who are not familiar, Monday.com is a work operating system that allows organizations to create tools and processes to manage their workflow. Its flexible and customizable format has made it the ideal solution for thousands of businesses all over the world.
In its initial public offering, Monday.com ended up raising an impressive $574 million on June 10th. According to Bloomberg, “the Tel Aviv-based company sold 3.7 million shares for $155 each on Wednesday. It had marketed them for $125 to $140. Salesforce.com Inc.’s venture arm and Zoom Video Communications Inc. each agreed to purchase $75 million of the company’s shares in a private placement at IPO price, according to Monday.com’s filings.”
Since its launch back in 2014, Monday.com currently employs 800+ employees and is used in over 190 countries. They also have over 127K customers including Uber, Adobe, Hulu, Tesla, Discovery, Coca Cola and Walmart. This type of client base definitely helped drum up a strong interest in investors which ultimately enabled Monday.com to price its IPO above the initial range. As Monday.com continues to grow, we are excited to see the future updates they will make.
To learn more about Monday.com and if it is the right fit for your company, check out their website.