Thursday, October 19, 2017

Sendgrid Files For IPO

SendGrid, the provider of back-end email delivery services which has a big office in Orange County, has filed for an IPO, saying that it is hoping to raise up to $100M in an IPO on the New York Stock Exchange. The company has applied to list as SEND. The IPO is being underwritten by Morgan Stanley, JP Morgan, illiam Blair, KeyBanc Capital Markets, Piper Jaffray, and Stifel. SendGrid's email services are used by such customers as eBay, Uber, Airbnb, and many others.The company is venture backed by Bain Capital Ventures, Bessmer Venture Partners, Foundry Group, and Highway 12 Ventures. Isaac Saldana, the co-founder of SendGrid--and who is located in Orange County--owns 2,235,7097 shares of SendGrid, or approximately 6.88 percent of the company before the IPO.