Personal finance firm NerdWallet spikes 48% on its first day of trading

Tiger Newspress2021-11-04

Shares of personal finance website NerdWallet Inc. soared 48% in their trading debut Thursday, after the company's initial public offering priced at $18 a share, the midpoint of its proposed $17 to $19 range.

The company sold 7.25 million shares to raise $130.5 million. With 64.7 million shares expected to be outstanding after the deal, the company's valuation is $1.2 billion.

The stock is trading on Nasdaq later Thursday under the ticker "NRDS." Morgan Stanley was lead underwriter in a syndicate of eight banks.

San Francisco, California-based NerdWallet was founded to operate at the intersection of financial service providers and consumers by providing consumers with information about financial offerings.

Management is headed by founder, Chairman and CEO Tim Chen, who has been with the firm since inception and was previously an Investor at JAT Capital Management and Perry Capital.

The company essentially provides financial service providers with leads to interested app users and generates revenue on a per action, per click, per funded loan or per lead basis.

NerdWallet has received at least $185 million in equity investment from investors including Innovius Capital, Institutional Venture Partners, RRE Ventures, and iGlobe Partners.

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精彩评论

  • FT585
    2021-11-05
    FT585
    Like 
  • May808
    2021-11-05
    May808
    Swee
  • May808
    2021-11-05
    May808
    [微笑] 
  • SGboy
    2021-11-05
    SGboy
    IPO first day with this result, congrat.
  • Yulyulk
    2021-11-05
    Yulyulk
    Congrats
  • ToongMH
    2021-11-05
    ToongMH
    Wow, good
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