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MICROSOFT CORPORATION

(MSFT)
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Software startup Sprinklr targets $5 bln valuation in U.S. IPO

06/14/2021 | 08:18am EDT

June 14 (Reuters) - Software startup Sprinklr said on Monday it was looking to raise as much as $380 million through a U.S. initial public offering (IPO), targeting a valuation of about $5 billion.

The company, whose customers include Microsoft Corp and McDonald's Corp, said in a regulatory filing it planned to sell 19 million shares priced between $18 and $20 per share.

Sprinklr, which began in 2009 in a spare bedroom in founder and Chief Executive Officer Ragy Thomas's house in New Jersey, provides software that helps its clients with marketing, advertising and customer engagement.

The company's revenue rose 19% to $111 million in the three months ended April 30, 2021. Its net loss, however, widened to $14.7 million from $11.2 million in the period.

The company has applied to list its shares on the New York Stock Exchange under the ticker symbol "CXM."

It confidentially submitted paperwork to U.S. regulators for the IPO in March.

Morgan Stanley, J.P. Morgan, Citigroup, Barclays and Wells Fargo Securities are the lead underwriters for the offering. (Reporting by Sohini Podder in Bengaluru; Editing by Aditya Soni)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -0.98% 174.5 Delayed Quote.18.97%
CITIGROUP INC. -1.00% 67.62 Delayed Quote.9.67%
MICROSOFT CORPORATION -0.56% 284.91 Delayed Quote.28.10%
MORGAN STANLEY -0.31% 95.98 Delayed Quote.40.49%
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Financials (USD)
Sales 2022 191 B - -
Net income 2022 65 693 M - -
Net cash 2022 92 196 M - -
P/E ratio 2022 32,7x
Yield 2022 0,85%
Capitalization 2 141 B 2 141 B -
EV / Sales 2022 10,8x
EV / Sales 2023 9,51x
Nbr of Employees 181 000
Free-Float 99,1%
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Technical analysis trends MICROSOFT CORPORATION
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Mean consensus BUY
Number of Analysts 41
Last Close Price 284,91 $
Average target price 326,50 $
Spread / Average Target 14,6%
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Managers and Directors
Satya Nadella Chairman & Chief Executive Officer
Bradford L. Smith President & Chief Legal Officer
Amy E. Hood Chief Financial Officer & Executive Vice President
James Kevin Scott Chief Technology Officer & Executive VP
Kirk Koenigsbauer COO & VP-Experiences & Devices Group
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