Smartsheet got $1.9 billion valuation after IPO
Online project management and crowdsourcing company Smartsheet saw its share prices pop as they made their debuts on to the public markets. Smartsheet closed at $19.50, up 30 percent from its initial price of $15 and giving it a market cap of $1.9 billion. The company is coming to the market with net losses on its balance sheets, but evidence of strong revenue growth. Smartsheet reported a strong 3.6 million users in its IPO filings, with business customers including Cisco and Starbucks. The company brought in $111.3 million in revenue for its fiscal 2018 year, but as with many SaaS companies, it’s going public with a loss.
Smartsheet alternatives are: Basecamp, Microsoft Project, Google Docs, LiquidPlanner, SharePoint, JIRA, Zoho Projects, Clarizen, Wrike