Riskified, which provides e-commerce fraud protection for enterprises, announced terms for its IPO on Monday.
The Tel Aviv, Israel-based company plans to raise $333 million by offering 17.5 million shares (1% insider) at a price range of $18 to $20. At the midpoint of the proposed range, Riskified would command a fully diluted market value of $3.1 billion.
Riskified states that it has built a next-generation e-commerce risk management platform that allows online merchants to create trusted relationships with their consumers. While the company serves merchants of all sizes, it focuses on supporting enterprise merchants, which it defines as those with over $75 million in online sales per year. Its merchants operate in a variety of verticals and span 36 countries, and its network is made up of hundreds of merchants including Wish, Macy's, Wayfair, and Booking.com.
Riskified was founded in 2012 and booked $188 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol RSKD. Goldman Sachs, J.P. Morgan, Credit Suisse, Barclays, KeyBanc Capital Markets, Piper Sandler, Truist Securities, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of July 26, 2021.
