Congratulations to a great IPO Zendesk, but also to Singapore based Zopim that got $10.9M in shares in the $30M acquisition
I do not regularly write about IPOs and companies that go public, but as a long-time customer and fan to Zendesk and as they also is a, by origin, a company from Denmark it is close at heart to write when something actually turns out as good as Zendesks listing on NYSE.
As a summary Zendesk raised $100M through the IPO and climbed almost 50% the first day of trading (for stock info on Zendesks site). In the turmoil after several not as successful IPOs it is great to see an enterprise startup (even though they have been around for some years) have a successful start.
If you have not read about this yet anywhere else it is most probably for the simple reason that Zendesk is an enterprise company and not a social company without a distinct business model, rather a company that have had a clear business model for many years.
Zopim from Singapore probably also happy
According to the S-1, Zendesk acquired Zopim as well as earn-out ($5M in upfront cash and $13.9 in earn out after 2-3 years) with the structure of some upfront payment, but also with $10.9M in common shares, those shares are currently wortht $20M. If it is a good deal for Zopim is probably not yet seen, since common stock usually have a lock-in on 6 months (do not now the details in this specific case).
Zopimi is one of the bigger exits from Singapore and was also Zendesks first and only acquisition.