INSUBCONTINENT EXCLUSIVE:
likely targeting a May public debut.Its core business is online software development courses, helping people improve their skills in
It also has offerings for individual subscribers.In the filing, the company acknowledges that it is a competitive landscape, and names
Cornerstone OnDemand, Udacity, Udemy, LinkedIn Learning as others in a comparable market
For 2017, the company brought in $166.8 million in revenue, up from $131.8 million in 2016 and $108.4 million in 2015.Losses are growing,
This is partly due to a sizeable increase in sales and marketing expenditures
For 2017, the company lost $96.5 million
This is up from losses of $20.6 million in 2016 and $26.4 million in 2015.Pluralsight has been around since 2004
Pluralsight previously raised nearly $200 million in financing.The largest shareholder is Insight Venture Partners, which owned 46.1 percent
of the shares prior to the IPO, an unusually high percentage
Co-founder and CEO Aaron Skonnard owned 13.4 percent and investment group ICONIQ owned 8.1 percent.Morgan Stanley and J.P
Morgan served as lead underwriters
Act from 2012 helped make it so that companies could file confidentially and then reveal financials and other business information just
weeks before making public debuts
This helps companies avoid too much scrutiny in the months leading up to an IPO
There is also a quiet period in this time, meaning that companies are limited in what they can say publicly about their businesses.Like most
tech companies, Pluralsight chose to take advantage of this confidential filing provision
Most choose to stay quiet about IPO plans until they make the filings public, unless reporters break the news first.It was no surprise to
a slow first couple of months, there has been a flurry of tech IPO activity in recent weeks
