Recently IPO cloud-based software platform, Coupa Software (NASDAQ: COUP) publicized the pricing of its IPO of 7.4 million shares of its common stock at a price to the public of $18.00 a share. Shares soared over 90 percent, and continues to trend higher after the announcement.
In accordance to Barron’s, Coupa notices itself as a “spend management platform,” in 2007, and was commended by its S1 prospectus. It serves up software from the Internet that bring together what it calls previously “disparate” applications, such as “procurement, invoicing and expense management” into a “transactional engine” to “capture a company’s spend.” The software also provides clients with “sourcing, analytics, contract management, supplier management, inventory management.”
Coupa had $60.32 million in revenue in the six months ended in July, up 70% from the year-earlier period. The company lost $24.3 million on that revenue, a little lower than the year-earlier $25.15 million loss.
The company had an accumulated deficit at the time of filing of $147.2 million, on both an actual and a pro-forma basis.