IOT News

After a clear recovery in growth stocks last year, Astera Labs (ALAB) and Reddit (RDDT) have kicked off 2024’s tech IPO pickup. Still, many of the largest software unicorns are content sitting on the sidelines, as valuation multiples remain below pre-pandemic levels. Importantly, jumbo private rounds from 2020-2021 mean they have no...read more

A number of IPO lock-up agreements are set to expire next week, including for VC-backed HashiCorp and Samsara, the last major deals of 2021. As a result of these lock-up expirations, hundreds of millions of shares held by insiders will become eligible for sale. Lock-ups can sometimes represent an important trading event, which Rivian (RIVN)...read more

The IPO market saw an uptick in activity this past week with six IPOs raising $919 million, led by IoT solutions developer Samsara (IOT). 14 SPACs also went public. The pipeline got a boost, with six IPOs and three SPACs submitting initial filings. Samsara (IOT) priced at the high end to raise $805 million at a $12.4 billion market cap....read more

Samsara, which develops fleet management and other Internet of Things solutions for businesses, raised $805 million by offering 35 million shares at $23, the high end of the range of $20 to $23. Samsara states that it has pioneered its end-to-end solution Connected Operations Cloud to allow businesses that depend on physical operations to harness Internet of Things (IoT) data...read more