Sumo Logic

Sumo Logic — developer of the cloud platform intended for the analysis very much data bulks. A number of large customers among whom — the company uses this solution Netflix SEGA Airbnb, Adobe and Twitter.

Performance Indicators

2020

In 2020 financial year which came to the end at the end of January of the 2020th calendar Sumo Logic gained $155.1 million that for 50% exceeds an indicator of year prescription ($103.6 million). Net losses during this time rose from $47.8 million to $92.1 million.

History

2020: Entry into the exchange: Growth of stock for 23% in the first day

On September 17, 2020 Sumo Logic began biddings with the actions at the Nasdaq exchange, using Sumo ticker. The company carried out the IPO at the price of $22 counting on one security that high range in $17-21 which were called initially.

Within listing the decision maker for work with Big Data sold 14.8 million shares and attracted $326 million. After normal legal and investment banking expenses the company will have $297 million, counted in it.

Sumo Logic made the IPO and is estimated at $2.47 billion

In the first day of biddings of quotation of the company flew up for 23%, but next day they sank for 6.81%, up to $25.05, to closing of the exchange. Market capitalization of Sumo Logic made on September 18, 2020 $2.47 billion, data of Nasdaq demonstrate.

Under the terms of the agreement, 10% of the stocks issued on the exchange purchased the structures affiliated with Tiger Global fund, at the placement price. 7% of papers were reserved by underwriters. Management and major shareholders will save 38.3% of stocks. Total number of issued shares is 100 million – thus, 15% of papers of the technology company will be in free circulation.

Acted as leading underwriters of the IPO investment banks Morgan Stanley and JP Morgan. The Greylock venture capital company in which ownership there were 19.2% of stocks of the company was the largest shareholder of Sumo Logic at the time of listing. Other shareholders are not called.^[1]

Notes