- Veeva files for a $150M IPO. The company provides cloud-based CRM, content management, and collaboration software to life sciences companies. The firm intends to list on the NYSE under the ticker VEEV.
- peHUB reported that the company had privately filed its registration in July, utilizing new provisions for small businesses under the JOBS act.
- The company has experienced explosive growth. Revenue expanded 111.4% in 2012 to 129.5M, but has since slowed to 71.1% in 1H 2013.
- Veeva is a bit of an outlier in the cloud IPO space. The company generated a profit of $18.8M in 2012, up from $4.2M in 2011. It stands to beat that number this year, with 1H net income of $10.8M. (S-1)
- Veeva competes with much larger players in the space like Opentext (OTEX), EMC, Oracle, and Microsoft.
Veeva files for $150M IPO
Sep 11 2013, 15:23 ET