Business
Why Bill.com didn’t pursue a direct listing
Bill.com went public today after pricing its shares higher than it initially expected. The B2B payments company sold nearly 10 million shares at $22 apiece, raising around $216 million in its IPO. Public investors felt that the company’s price was a deal, sending the value of its equity to $35.51 per share as of the time of writing.
That’s a gain of over 61%.
On the heels of its successful pricing run and raucous first day’s trading, TechCrunch caught up with Bill.com CEO René Lacerte to dig into his company’s debut. We wanted to know how pricing went, and whether the company (which possibly could have valued itself more richly during its IPO pricing, given its first-day pop) had considered a direct listing.
Lacerte detailed what resonated with investors while pricing Bill.com’s shares, and also did a good job outlining his perspective on what matters for companies that are going public. As a spoiler, he wasn’t super focused on the company’s first-day return.
For more on the Bill.com IPO’s nuts and bolts, head here. Let’s get into the interview.
René Lacerte
The following interview has been edited for length and clarity. Questions have been condensed.
TechCrunch: How did your IPO pricing feel, and what did you learn from the process?
Lacerte: I think the whole experience has been an incredible learning experience from a capitalism perspective; that’s probably a broader conversation. But you know, it really came down to how our story resonated with investors, and so there’s three components that we kind of really talked to folks about.
-
Entertainment7 days ago
‘Only Murders in the Building’ Season 4 ending explained: Who killed Sazz and why?
-
Entertainment6 days ago
When will we have 2024 election results online?
-
Entertainment5 days ago
Halloween 2024: Weekend debates, obscure memes, and a legacy of racism
-
Entertainment6 days ago
Social media drives toxic fandom. Is there a solution?
-
Entertainment5 days ago
Is ‘The Substance’ streaming? How to watch at home
-
Entertainment5 days ago
M4 MacBook Pro vs. M3 MacBook Pro: What are the differences?
-
Entertainment3 days ago
Menendez brothers case reignites online: The questions that keep resurfacing
-
Entertainment4 days ago
‘A Real Pain’ review: Jesse Eisenberg and Kieran Culkin charm as odd-couple cousins