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Monday.Com Sees Possible $6 Billion Valuation from IPO

The company previously expected just a $4 billion valuation.

Monday.Com is an Israeli startup which deals with management software. The company revealed specifics about its planned NASDAQ IPO today, Tuesday. It plans to offer 3.7 million shares at $125 to $140 apiece and private placements with Salesforce (NYSE:CRM) and Zoom Video Communications (NASDAQ:ZM). Monday will trade under the ticker MNDY and expects to be valued at up to $6.2 billion.
Last October JBN reported that Monday expected a $4 billion valuation from its IPO.

The company has raised $234 million to date. It also expects to bring in between $596.6 million to $642.3 million, depending on pricing and whether underwriters exercise an option to buy an extra 370,000 shares for overallotments. Monday also said it anticipates having 43.7 million ordinary shares outstanding following the IPO, or about 44.1 million if underwriters exercise all overallotment options.

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In an S-1 filing with the U.S. Securities and Exchange Commission (SEC) Monday.Com stated that both Zoom and Salesforce’s private-equity arm Salesforce Ventures LLC intend to purchase $75 million of stock at the IPO price through private placements.

Founded in 2012, the Tel Aviv based Monday.Com specializes in project management, team management, SaaS, communication, production tracking, team collaboration, and work management. The company offers a team management platform.

Saas and cloud services are ever more important now due to the Covid-18 crisis. The Corona Virus pandemic has forced countless people away from their offices leaving them with a greater need for secure, efficient and simplistic services such as these.

Recently Monday.Com revealed a new integration with Adobe. Its clients will be able to work together with Adobe Creative Cloud, without first needing to switch from one platform to the other. The company declared that users will be able to streamline communications with peers, sort daily tasks by priority, access project briefs quickly, report on statuses, focus on the most impactful work, receive notifications once a project has been reviewed, and receive real-time feedback without switching between tools. Users will also be able to export files from select Creative Cloud apps to monday.com, without leaving their design environment.

Just last September Forbes listed the Monday.Com at number 33 on its list of the top 100 cloud companies.

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