Bill.com Files for $100M IPO
news.crunchbase.com
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This is a Drift chat widget so they have your information stored somewhere, probably from some interaction you had with it on a different site. They also appear to do IP lookup as well.
I guess my dynamic residential IP is associated with that firm somewhere somehow.
Some don't need the cash and may even do a direct listing with no capital raise, like Spotify and Slack.
Others have such huge losses that the IPO cash is acutely needed. I'd put Lyft and Uber in that bucket. WeWork of course is the poster child — it nearly collapsed after the IPO was pulled and cash from public markets wasn't forthcoming after all.
13 years of unprofitability?
> Amazon was founded in 1994, first traded publicly in 1997, and didn’t turn a profit until 2001.
https://www.investopedia.com/stock-analysis/031414/amazon-ne...
> Bill.com reported about $35.2 million in total revenue for the third quarter of 2019, representing nearly 57 percent year-over-year growth compared to $22.4 million in total revenue for the third quarter of 2018. For context, Bill.com’s total revenue grew 71 percent between the third quarter of 2017 and the third quarter of 2018. The company’s growth is slowing down, which isn’t unusual as companies mature.
Where does this notion come from that these companies can "make money whenever they want", but haven't done so in a decade or more? People point to Amazon as an analogy all the time: it took Amazon about 5 years to make a profit, and this was the early internet. Bill.com is not Amazon.com.
That's a theory, a selling-point, and it comes from "Silicon Valley" itself. In reality, the growth tends to come from the customer acquisition spend, and growth will likely cease the minute customer acquisition spending stops. Growth is already slowing down, and this company has never made a dime. So what value do you put on it now?
Where does the idea assumption from that these companies are "putting profits back into the company"? That money has to show up in the financials statements as well, it's not magic.
Jeff Bezos’ letter to shareholders on this topic (PDF warning) — https://ir.aboutamazon.com/static-files/2b0b9eb6-0e9d-40f9-8...
I never asked but maybe the accounting team loves it. As an approver and receiver (separate companies) it never made sense to me. I used it only because I had to.
I've had an account bug with them for over a year, and every time I reach out to their customer support they just tell me I'm wrong and everything is okay with my account... Meanwhile, the dashboard is essentially "bricked" for me and I have to send invoices to my customer via email (how I prefer, but not how my customer that pays all their bills through bill.com prefers).