38100897
2021-11-05
Ok
Personal finance firm NerdWallet spikes 48% on its first day of trading
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With 64.7 million shares expected to be outstanding after the deal, the company's valuation is $1.2 billion.</p>\n<p>The stock is trading on Nasdaq later Thursday under the ticker \"NRDS.\" Morgan Stanley was lead underwriter in a syndicate of eight banks.</p>\n<p>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.</p>\n<p>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.</p>\n<p>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.</p>\n<p>NerdWallet has received at least $185 million in equity investment from investors including Innovius Capital, Institutional Venture Partners, RRE Ventures, and iGlobe Partners.</p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NRDS":"NerdWallet"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141767572","content_text":"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.\nThe company sold 7.25 million shares to raise $130.5 million. 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