Nerdwallet privately filed an IPO application back in May of this year and has now made it official. The company intends to list on the Nasdaq under the ticker NRDS. The price range for shares has not been determined yet: according to unconfirmed reports, the startup expects an estimated valuation of $5 billion.
Investment opportunity with Raison Asset Management — Nerdwallet
Global Technologies Private Portfolio fund acquired Nerdwallet shares in May 2021 at $15.5 per share, which is equivalent to a capitalization of $2.3 billion.
In the S-1 form, the company reported a 32% increase in revenue in the first half of 2021: $181.6 million versus $137.3 million. At the same time, the company’s costs increased even more — by 60%: from $135.9 million to $217.5 million.
In this regard, the company, for the first time in recent years, completed the half-year with a net loss of $ 26.8 million. Prior to that, Nerdwallet was one of the few profitable startups: in 2020, its net profit amounted to $5.3 million, in 2019 — $24.2 million.
The reason for the loss, according to the company itself, is large-scale marketing costs. In 2020, the number of monthly unique users reached 16 million people, by the end of the first half of 2021 — already 21 million people.