Posted October 05, 2018 05:17:00 The world’s biggest social media company, Sprout, is going public.
The company, which makes content and social media tools for businesses and individuals, will become the first publicly traded company to go public.
Its CEO, Justin Zoho, is expected to unveil the company’s stock price during a conference call Tuesday.
Sprout will issue its first quarterly results Tuesday afternoon.
“I am extremely excited about this exciting opportunity and look forward to joining the community of investors,” Zoho said in a statement.
“Sprout has built a strong brand, a strong ecosystem and a strong customer base with strong, engaged customers and customers who want to know more about the company.”
Sprout will list on the Nasdaq stock market under the symbol SPS.
The company has about 15 million users on its platforms.
Its business models include social networks, chatbots, search and video platforms, and online shopping.
Zoho said the company has been focused on building a new user base and making its platform more attractive to potential investors.
The stock has been rising since Zoho took the helm in 2015.
In the last three years, the company raised about $600 million in venture funding.
Zoho was named CEO of the company in April 2018.
He has said he believes the stock will be profitable.
The IPO will be Sprout’s biggest in more than a decade.
Sprad is one of the fastest growing tech companies in the world, with revenue growing 22 percent a year.
The stock closed Monday at $30.31.
Sprouts shares closed Tuesday at $39.10.