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EXPEDIA GROUP, INC.

(EXPE)
  Report
Real-time Estimate Cboe BZX  -  02:10:27 2023-02-07 pm EST
119.19 USD   +0.10%
01/31North American Morning Briefing: Stocks Seen Down as Rate Decisions Loom
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01/26Expedia Group to Webcast Fourth Quarter 2022 Results on February 9, 2023
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01/25BofA Securities Adjusts Expedia Price Target to $143 From $138, Maintains Buy Rating
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E-commerce tech startup Rokt valued at $2.4 bln in latest funding amid plans for IPO

12/05/2022 | 10:21am EST

Dec 5 (Reuters) - Tech startup Rokt said on Monday it raised its valuation to $2.4 billion in a secondary funding round led by investment firm Square Peg and asset manager Wellington Management, and is planning for an initial public offering encouraged by the e-commerce boom.

Growth in e-commerce since the COVID-19 pandemic has led to a demand for marketing software companies such as Rokt. The company uses artificial intelligence and machine learning to analyze online shoppers and their engagement with products and services.

"Despite broader market declines in valuations, we continue to see rapid growth in Rokt, driven by new e-commerce partners and an uplift from advertisers," said Bruce Buchanan, Chief Executive Officer of Rokt.

"This has further propelled Rokt's growth and we're pleased to see this expression of support from existing investors as Rokt looks towards an IPO," Buchanan added.

New York-based Rokt was valued at $1.95 billion in December last year after it raised capital in a Series E funding round led by Tiger Global that also saw participation from Wellington Management, Whale Rock Capital Management, Pavilion Capital and Square Peg.

The company was founded in Australia in 2012 and later expanded to 19 countries across North America, Europe and the Asia-Pacific region. It counts GoDaddy, Expedia and Wells Fargo among its customers.

Rokt continues to hire for roles across its business globally and plans to open a second North American product development center on the West Coast in 2023, according to a statement. (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra Eluri)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EXPEDIA GROUP, INC. -0.85% 118.12 Delayed Quote.35.92%
GODADDY INC. 0.20% 81.45 Delayed Quote.8.45%
WELLS FARGO & COMPANY 0.30% 47.825 Delayed Quote.15.48%
All news about EXPEDIA GROUP, INC.
01/31North American Morning Briefing: Stocks Seen Down as Rat..
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01/26Expedia Group to Webcast Fourth Quarter 2022 Results on February 9, 2023
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01/25BofA Securities Adjusts Expedia Price Target to $143 From $138, Maintains Buy Rating
MT
01/25Barclays Adjusts Price Target on Expedia to $129 From $125, Maintains Overweight Rating
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01/24UBS Adjusts Expedia Price Target to $125 From $108, Maintains Neutral Rating
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Analyst Recommendations on EXPEDIA GROUP, INC.
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Financials (USD)
Sales 2022 11 738 M - -
Net income 2022 348 M - -
Net cash 2022 134 M - -
P/E ratio 2022 52,5x
Yield 2022 -
Capitalization 18 586 M 18 586 M -
EV / Sales 2022 1,57x
EV / Sales 2023 1,34x
Nbr of Employees 14 800
Free-Float 51,7%
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Technical analysis trends EXPEDIA GROUP, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 32
Last Close Price 119,07 $
Average target price 129,44 $
Spread / Average Target 8,71%
EPS Revisions
Managers and Directors
Peter M. Kern Vice Chairman & Chief Executive Officer
Julie P. Whalen Chief Financial Officer, Director & Executive VP
Barry Charles Diller Chairman
Rathi Murthy CTO, President-Expedia Product & Technology
Craig A. Jacobson Independent Director
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