IPO Preview: 12 Deals To Watch This Week

This week’s IPO schedule could include dozens of companies going public including several high-profile names. Here is a look at some of the top planned offerings of the week that investors should watch.

Dingdong: China e-commerce company Dingdong DDL plans on selling 14 million ADS at a price point of $23.50 to $25.50.

The company holds a 10% market share for China’s on-demand e-commerce market and is one of the fastest-growing e-commerce companies in the country.

Dingdong had revenue of $1.7 billion in 2020 and $580.3 million in the first quarter of 2021.

LegalZoom: With a leading online platform for legal and compliance solutions, LegalZoom LZ has a mission to democratize law. The company helps with items such as business formation, intellectual property and estate planning.

LegalZoom had revenue of $471 million in 2020, up 15% year-over-year. The company operates in 50 states and has a serviceable market of $48.7 billion. LegalZoom is planning on selling 19.1 million shares at a price point of $24 to $27.

SentinelOne: Cybersecurity company SentinelOne S plans on selling 32 million shares at a price point of $26 to $29. The company is the world’s first purpose-built artificial intelligence-powered extended detection and response company, according to the filing.

The company had revenue of $93.1 million in fiscal 2021 and has a current annual run rate of $161 million.

SentinelOne works with over 4,700 customers including organizations of all sizes.

Integral Ad Science Holding: Digital advertising company Integral Ad Science Holdings IAS plans on selling 15 million shares at a price point of $15 to $17. The company offers digital advertising verification for more than 2,000 global customers. The company works with 35% of the top U.S advertisers.

Forty percent of the company’s revenue comes from international markets including operations in 111 countries.

Xometry: Artificial intelligence-enabled marketplace Xometry XMTR works to partner manufacturing partners with buyers. The company had revenue of $141.4 million in fiscal 2020 and saw compounded annual growth of 92% from 2018 to 2020. Xometry works with around 30% of the Fortune 500 companies and more than 43,000 buyers.

First-quarter revenue of $43.9 million was up 65% year-over-year.

Intapp Inc: Cloud-based software solutions provider Intapp INTA works with professional and financial services. Clients for Intapp include 96 of the top 100 American Law firms and seven of the top eight accounting firms. The company counts over 20 clients that represent $1 million in annual revenue out of more than 1,600 total clients. Revenue of $186.9 million in 2020 was up 30% year-over-year.

The company plans on selling 10.5 million shares at a price point of $25 to $28.

Clear Secure: Identity validation company Clear Secure YOU could be valued at more than $4 billion with plans to sell 13.2 million shares at a price of $27 to $30. The company launched in 2010 after the increased time spent screening in airports in a post 9/11 world. Clear Secure is used by 38 airports and 25 sports and entertainment partners. The company has more than 61 million users.

Clear Secure could be a way to play the rise in airline passengers happening now as the country reopens. The company sells a subscription product that helps get verified passengers through screening quicker, which could be a big plus as airports see a rise in traffic.

Didi Global: The world’s largest mobility platform is going public this week with the IPO of Digi Global DIDI. The company operates in 15 countries and more than 4,000 cities. Didi Global is seeking to build the future of mobility with operations that include Africa, Asia, Europe and Latin America. China is the company’s largest market representing 93.4% of revenue in both 2020 and the first quarter of 2021.

Didi Global had revenue of $21.6 billion in 2020 and $6.4 billion in the first quarter of 2021.

Didi Global’s solutions include shared mobility, auto solutions, electric mobility and autonomous driving.

The company counts more than 493 million annual active users and processes over 41 million average daily transactions. Didi Global plans to sell 288 million ADS at a price point of $13 to $14.

EverCommerce Inc: Operating with a Software-as-a-Service model, EverCommerce Inc EVCM helps small and medium-sized businesses in the service economy segment. The company offers EverPro for field service and home improvement professionals; EverWell for the fitness, wellness, salon and spa professional segment; and EverHealth for the healthcare practices segment.

EverCommerce serves over 500,000 customers and has grown sales at a compounded annual growth rate of 61.3% from 2018 to 2020.

The company had revenue of $337.5 million in fiscal 2020.

EverCommerce plans on selling 19.1 million shares at a price point of $16 to $18.

Related Link: Krispy Kreme IPO: Doughnut Maker Returning To Public Market After Best Year, Growth Of Insomnia Cookies

D-Market: The largest commerce platform in Turkey is going public with D-Market Electronic Services & Trading HEPS offering 56.7 million ADS at a price point of $11 to $13.

The company has more than 33 million members including more than 9 million active members. Founded in 2000, D-Market has 96% brand awareness in Turkey, which is the 13th largest economy in the world by GDP. The company offers services such as shop online, grocery delivery, international delivered goods, online pay and buying airline tickets online.

The company launched third-party marketplace sales in 2015, which is now 59% of gross merchandise volume for the company.

Krispy Kreme: Doughnut chain Krispy Kreme DNUT is planning to sell 26.7 million shares at a price point of $21 to $24.

The company was taken private in 2016 by JAB, which will own 38.6% of shares after the offering and could be valued at $4 billion in the offering. The company posted its highest sales amount in company history in 2020 with sales of $1.12 billion. Sales grew at a compounded annual growth rate of 19.1% from 2016 to 2020.

First-quarter revenue was $321.8 million for the company compared to $261.2 million in the prior year’s first quarter. The company has more than 8,200 stores and partnered retail locations globally. Krispy Kreme also owns the Insomnia Cookies brand which opened 17 locations in 2020 and has plans to open 30 stores in 2021.

Torrid Holdings: The largest direct-to-consumer company for apparel and intimates for plus-size women is Torrid Holdings CURV.

The company plans to sell 8 million shares at a price point of $18 to $21. The company had 3.2 million active customers in 2020 and 3.4 million active customers in May. The company posted revenue of $974 million in 2020 and saw revenue grow an average of 8% annually from 2017 to 2020. E-commerce represented 70% of the company’s sales in 2020 along with 608 physical stores. Sales in the first quarter were up 108% year-over-year to $326 million.

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