Riskified files for IPO with revenue up 54% in first quarter

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Israeli antifraud company Riskified announced Thursday afternoon that it has filed paperwork for a proposed initial public offering. The company offers services for e-commerce companies looking to reduce online fraud, prevent account takeovers, and manage compliance with regulations. The company, which works with retailers like Macy’s Inc.
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-0.69%
and Wayfair Inc.
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-2.60%,
generated revenue of $169.7 million in 2020, up from $130.6 million in 2019. During the first quarter of 2021, revenue climbed 54% to $51.1 million. Riskified generated a net loss of $11.3 million in 2020, whereas it posted a loss of $14.2 million a year prior. The company lost $43.7 million in the March quarter of 2021, versus a net profit of $2.3 million a year earlier, mainly due to remeasurement losses around convertible preferred share warrant liabilities and convertible preferred share tranche rights. Goldman Sachs, JPMorgan, and Credit Suisse are acting as the lead book runners for the proposed offering, according to Riskified’s release. Riskified intends to trade under the ticker RSKD.

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