Security News > 2021 > July > eCommerce Fraud Prevention Firm Riskified Prices IPO at $21 Per Share
Israel-based ecommerce fraud prevention company Riskified has announced the pricing of its initial public offering as it prepares to start trading publicly on the New York Stock Exchange.
Riskified is offering 17,300,000 Class A ordinary shares at $21 per share, which means the company is hoping to raise more than $360 million.
The company reported a revenue of nearly $170 million for 2020 and $51.1 million in the first quarter of 2021.
Gross profit was $92.8 million for 2020 and $28.6 million in the first quarter of 2021.
"For the years ended December 31, 2019 and 2020, our net loss improved by 20%, from a net loss of $14.2 million to a net loss of $11.3 million," the company said in a SEC filing.
"For the three months ended March 31, 2020 and 2021, our net profit decreased $45.9 million, from $2.3 million of net profit to $43.7 million of net loss, primarily due to remeasurement losses related to our convertible preferred share warrant liabilities and convertible preferred share tranche rights due to increases in the fair value of the underlying instruments."