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IPO Preview: Similarweb, Global E-Online, Enact Holdings, Hear.com Lead Week Of Offerings

This week’s IPO calendar has several large offerings and some international names. Here is a look at this week’s offerings.

iPower: Online hydroponic equipment seller iPower (NASDAQ: IPW) plans to offer 3 million shares at a price point of $9 to $11. The company offers its own brands and partnered brands through its website www.zenhydro.com. iPower-owned brands represented 76% of company sales in the six month period ending December 31, 2020.

The company had sales of $26.2 million in the six-month period ending December 31, 2020. Preliminary first-quarter revenue is expected to be in a range of $11.75 million to $12.75 million, compared to $9.4 million in the prior year.

Global E-Online: Cross border e-commerce business Global E-Online (NASDAQ: GLBE) had revenue of $136 million in fiscal 2020, up 107% year-over-year. Gross merchandise volume of $774 million in 2020 was up 103% year-over-year. The company plans to sell 15 million shares at a price point of $23 to $25.

Similarweb: Similarweb (NYSE: SMWB) offers digital intelligence, marketing intelligence and other services, with a $34 billion total addressable market size. The company had revenue of $93.5 million in fiscal 2020. Forty-nine percent of revenue comes from customers who pay the company $100,000 or more annually.

The company plans to acquire new customers and expand revenue from existing customers.

Similarweb is planning to sell 8 million shares at a price point of $19 to $21.

Related Link: IPO Preview: Honest Company, Chinese Lifestyle Brand Onlinon Global Lead Group 

Enact Holdings: Offering mortgage insurance since 1981, Enact Holdings (NASDAQ: ACT) had $99.9 billion in new insurance written and a market share of 16.6% in the last fiscal year. Revenue in the last fiscal year was $1.1 billion compared to $979 million in the prior year. Enact will be majority owned (83.7%) by parent company Genworth Financial (NYSE: GNW) after the offering.

Zenvia: Brazil-based Zenvia (NASDAQ: ZENV) offers a communication platform for companies and had revenue of $94.8 million in fiscal 2020, up 28% year-over-year.

Zenvia had 9,500 customers in 2020. The company has local offices in Brazil, Mexico and Argentina. The company lists a total addressable market size of $4.1 billion in Latin America. Zenvia says it serves over 50% of the top 10 companies in Brazil’s retail, health care, banks, education, service provider and insurance market segments.

The company plans to sell 12.9 million shares at a price point of $15 to $17.50.

Hear.com: One of the largest online providers for medical grade hearing loss equipment is hear.com (NASDAQ: HEAR). The company competes in the hearing loss market of over 466 million people worldwide. Estimates are that only 17% of people with hearing loss have hearing aids.

The company offers services in the United States, Canada and Malaysia. Expansion plans call for offering services in China, Brazil, Mexico, Colombia and Japan.

Hear.com offers its Clinic in a Box teleaudiology solution as an expanded option.

The company plans to offer 16.2 million shares at a price point of $17 to $20.
Photo by Micheile Henderson on Unsplash.

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