Samsara IPO Alert: 10 Things to Know as IOT Stock Starts Trading Today

Editor’s note: This article was updated on Dec. 15 to correct the figures for Samsara’s total addressable market and amount raised. 

In one of this week’s most high-profile initial public offerings, Samsara is coming public today. The internet of things (IOT) company is grabbing attention for the industries it touches, but what else should you know about the Samsara IPO?

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To start, Samsara will begin trading today on the New York Stock Exchange under the ticker symbol IOT. The IPO follows some strong recent financial data from the company, which has priced its public offering at $23 a share. This gives Samsara a valuation of $11.5 billion based on 35 million Class A shares being tendered.

With that in mind, here is what investors need to know about the Samsara IPO.

10 Things to Know About the Samsara IPO

  1. Samsara was founded in 2015 and is headquartered in San Francisco.
  2. The company provides fleet vehicle operators with telematics and other fleet management software.
  3. Samsara says its cloud-based platform enables businesses to use IOT data to improve the safety and efficiency of their transportation fleets and systems.
  4. Through October 2021, Samsara raised $939.4 million from investors that included Andreessen Horowitz and General Catalyst.
  5. Samsara forecasts that its addressable market in the industrial IOT space in which it operates is expected to be worth $96.9 billion by 2024.
  6. For full year 2020, Samsara reported revenue of $249.9 million, more than double a year earlier.
  7. In October, the company announced that its revenue year to date in 2021 was $302.6 million, up 75% year over year.
  8. Samsara raised $805 million from today’s IPO, money it will use to expand and grow its ongoing operations.
  9. The company was founded by two students from the Massachusetts Institute of Technology (MIT).
  10. Samsara has already expanded internationally, having opened a European headquarters in London, England in 2018.

On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/12/samsara-ipo-alert-10-things-to-know-as-iot-stock-starts-trading-today/.

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