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SquareSpace, Procure Technologies And Oatly Are This Week’s Offerings – Stocks News Feed

There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat milk.

SquareSpace: Offering an all-in-one platform for small and medium sized businesses to manage their online presence, SquareSpace (NYSE: SQSP) is one of the largest in the market. The company seeks to help people stand out and succeed by offering help with online presence, commerce and marketing.

SquareSpace has 3.7 million unique subscribers in 180 countries. Revenue was $621 million for SquareSpace in 2020, up 28% year-over-year. In the first quarter of 2021, revenue for SquareSpace was $179.6 million.

In March, SquareSpace acquired Tock, a hospitality platform and application system, for $415 million, which could help with additional expansion.




The company estimates that 46% of U.S. small and midsize businesses are not online today, offering room for expansion for SquareSpace.

SquareSpace is selling 40.4 million shares in a direct listing.

Related Link: How To Buy SquareSpace IPO Stock

Procure Technologies: Cloud-based construction management software company Procure Technologies (NYSE: PCOR) plans to sell 9.5 million shares at a price point of $60 to $65. The company is helping digitize a construction industry that still has low market penetration.

Procure had $400 million in revenue in 2020, up 38% year-over-year. Procure has over 800 customers that represent $100,000 in annual revenue. Over 60% of customers subscribe to three or more Procure products. The company reports 1.6 million users in over 125 countries.

Since 2014, Procure has helped manage over 1 million projects representing over $1 trillion in construction ideas. The total addressable market size for construction software is listed as $12.4 billion and growing. The construction market represents 13% of the global gross domestic product.

Oatly Group: The world’s largest oatmilk company Oatly Group (NASDAQ: OTLY) is going public with an offering of 84.4 million ADS at a price point of $15 to $17.

The company offers dozens of products at over 60,000 retail points of sale and more than 32,000 coffee shops. Customers include Starbucks Corp (NASDAQ: SBUX), Target Corporation (NYSE: TGT) and Tesco.

Oatly was founded in Sweden, where the company commands a strong 53% market share for alternative dairy products. In the United States, Oatly had 182% year-over-year growth in the retail segment for 2020.

The company is using a food service-led expansion strategy to enter new markets and gain brand recognition. Oatly entered China in 2018 and is now present in over 8,000 locations through partnerships with Starbucks China and Alibaba Group Holding (NYSE: BABA).

The company had revenue of $421.4 million in 2020, up 106.5% year-over-year. Revenue for the first three months of 2021 was $140.1 million, up 66.2% year-over-year. Revenue in 2020 was split 64% EMEA region, 24% Americas and 13% Asia. The company got 71% of 2020 revenue from the food retail segment and 25% from foodservice.

The global retail milk industry is worth an estimated $179 billion.

Related Link: How To Buy Oatly IPO Stock 
Photo by Tiia Monto on Wikimedia

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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