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Tim Chen and Jake Gibson cofounded NerdWallet in 2009. LinkedIn
- NerdWallet stock soared as much as 91% in its IPO debut on Thursday, valuing the personal finance website at $2 billion.
- The company priced its IPO at $18 per share, in the middle of its expected $17-$19 range.
- NerdWallet raised $130 million from the offering at a $1.2 billion valuation.
NerdWallet, the personal finance website founded in 2009, soared as much as 91% in its IPO trading debut on Thursday.
The company priced its IPO at $18 per share, in the middle of its expected $17-$19 per share range, giving it a $1.2 billion valuation. But with Thursday’s surge, the company saw its valuation hit more than $2 billion.
The company trades on the Nasdaq under the ticker symbol “NRDS.”
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NerdWallet raised $130.5 million from the share offering, having sold 7.25 million shares. The company recorded $182 million in revenue in the first six months of 2021, representing year-over-year growth of 32%. And rare for most IPO companies, NerdWallet has been profitable in the past, generating $5 million in net income …….