monday.com completes $6.8b. IPO

The company granted the underwriters a 30-day option to purchase up to an additional 370,000 ordinary shares at the initial public offering price, it noted.

monday.com founders Roy Mann & Eran Zinman (photo credit: NETANEL TOBIAS)
monday.com founders Roy Mann & Eran Zinman
(photo credit: NETANEL TOBIAS)
monday.com said Thursday it completed a $6.8 billion IPO on the Nasdaq Global Select Market, in one of the largest ever IPOs by an Israeli company in New York.
The work management platform priced its offering of 3,700,000 shares at a price to the public of $155 per share, higher than the $125-140 target it had set. The shares begin trading Thursday under the ticker symbol “MNDY.”
The company granted the underwriters a 30-day option to purchase up to an additional 370,000 ordinary shares at the initial public offering price, it noted.
monday.com was founded in 2014 by Roy Mann & Eran Zinman, and now has more than 800 employees in eight offices around the world, including Tel Aviv. The company said it has more than 127,000 customers across over 200 industries
in more than 190 countries.
The company had 2020 revenues of $161.1 million, more than twice its sales a year earlier. First-quarter revenues for 2021 grew 85% to $59 million.