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Braze substantially boosted its expectations and priced its initial public offering at $65 per share, above the previous marketed range ( $55 and $60 per share). It distributed 6.7 million shares to raise $520 million.
According to Bloomberg, at the IPO price, Braze would have a market value of $5.87 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission. Accounting for employee stock options and restricted stock units,the company would have a fully diluted value of more than $6.7 billion.
Business Overview
New York-based Braze was founded in 2011 to assist organizations in automating and analyzing their customer communications and engagement efforts.
Brands ingest and process customer data in real time, orchestrate and optimize contextually relevant, cross-channel marketing campaigns and continuously evolve their customer engagement strategies with the platform.
As of July 31, 2021, the company had 1,119 customers, up from 890 customers as of January 31, 2021 and 728 customers as of January 31, 2020.
Its customers include many established global enterprises and leading technology innovators, including Domino's Pizza，SoundCloud，HBO Max and Urban Outfitters.
In a letter to investors, co-founder and Chief Executive Officer William Magnuson said the coronavirus pandemic has accelerated digital transformation, including the importance of mobile technology for connecting customers to brands. The transformative impact from 2020 will echo into the future, further validating Braze's founding vision.
Financial Performance
Braze generated revenue of $96.4 million and $150.2 million in fiscal year 2020 and fiscal year 2021, respectively, representing year-over-year growth of 56%.
Revenue increases 52.6% to 103.6 million from the six months ended July 31, 2020 to the six months ended July 31, 2021.
The company had net losses of $31.8 million and $32.0 million in fiscal year 2020 and 2021, respectively.
The increase was primarily driven by an increase in subscription fees with existing customers as a result of expansion in committed entitlements and features, and an increase in the number of customers from 796 as of July 31, 2020 to 1,119 as of July 31, 2021.
According to the prospectus, approximately 54.5% of the increase in revenue was attributable to the growth from existing customers, and the remaining 45.5% was attributable to new customers.
Click to view the prospectus

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The technical analysis is just like the weather forecast. The latter is useful because it helps us to prepare for what is likely. If the forecast calls for rain, we bring our umbrellas with us when we go out. We know that we might not need these things, but more than likely we will and we like to be prepared.
Like weather forecasting, technical analysis does not result in absolute predictions about the future. Instead, technical analysis can help investors anticipate what is "likely" to happen to prices over time.
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By Chloe
Hey moomooers! Here are things you need to know before the opening bell:
- US stock futures slip ahead of Powell testimony, bank earnings
- Senate Democrates agree to $3.5 trillion healthcare, antipoverty plan
Market snapshot
U.S. stock index futures were little changed in early morning trading on Wednesday, after the major averages finished Tuesday regular trading in the red, weighed down by inflation fears....