SendGrid Announced the Closing of its Initial Public Offering of 9,430,000 Shares
SendGrid, Inc, a leading digital communication platform, announced the closing of its initial public offering of 9,430,000 shares of common stock, including the full exercise by the underwriters of their option to purchase 1,230,000 additional shares of common stock, at a price to the public of $16.00 per share. The shares are listed for trading on the New York Stock Exchange under the symbol “SEND.”
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC acted as book-running managers for the offering. William Blair& Company, L.L.C., KeyBanc Capital Markets Inc., Piper Jaffray & Co. and Stifel, Nicolaus & Company, Incorporated acted as co-managers. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission.
SendGrid is a leading digital communication platform, enabling businesses to engage with their customers via email reliably, effectively and at scale. A leader in email deliverability, SendGrid has processed over 36 billion emails each month for internet and mobile-based customers as well as more traditional enterprises.
Founded in 2009, after graduating from the TechStars program, SendGrid developed an industry-disrupting, cloud-based email service to solve the challenges of reliably delivering emails on behalf of growing companies. Like many great solutions, SendGrid was born from the frustration of three engineers whose application emails didn’t get delivered, so they built an app for email deliverability. Today, SendGrid is responsible for sending billions of emails for some of the best and brightest companies in the world.
“We believe that accessing the public markets now, creates liquidity for our early stage investors and for our employees, while also creating a capital base that will help us drive our organic and inorganic growth strategy. We estimate SendGrid’s market opportunity is approximately $11 billion today, and we believe we have a long term growth opportunity to build our business and doing so as a public company gives us a great opportunity to execute our vision,” said Yancey Spruill, Chief Financial Officer and Chief Operating Officer at SendGrid
Email is the most effective way to build and nurture customer relationships today. Companies that think strategically about email as a set of meaningful customer touchpoints—taking care to send it at the right time, with the right content, and for the right people—will yield a competitive advantage.
SendGrid’s trusted platform, tools, and expert services team make it effortless for developers and marketers to craft, segment, test, and successfully deliver all of their email, no matter the use case: purchase confirmations, password reset instructions, an upcoming sale, or a nurture campaign.