附近上门

Project management company saw its stock close at $178.87 on Thursday, 15 percent above its initial public offering price.聽

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The Tel Aviv-based company, which was founded in 2012, priced its shares at $155 apiece on Wednesday night, above the range of $125 to $140 it had set. Monday.com raised about $574 million through its IPO, and its聽stock opened at $171.52 on Thursday.

Monday.com reported $161 million in revenue in 2020, more than double the $78 million in revenue it generated in 2019, per its F-1 filing. The company鈥檚 losses also spiked in that time period, going from $91.6 million in 2019 to $152.2 million in 2020. Monday.com has more than 127,000 total customers, including companies like and .

and are among the largest shareholders in the company.

The company didn鈥檛 consider a direct listing or SPAC, two increasingly popular ways of going public, according to Monday.com chief financial officer . They felt they had the right type of company and investors for a traditional IPO, which will help Monday.com get to the next level, he said.

鈥淲e are getting to the point where we want to progress and expand our footprint globally, it was the right timing,鈥� Glazer said.

Next, the company wants to expand into additional verticals such as customer relationship management, human resources, and marketing, Glazer said.

Monday.com is backed by investors including Insight Partners and and has raised at least $234 million in funding, per 附近上门.

Illustration: Li-Anne Dias