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[td_block_text_with_title custom_title=”Company Description” tdc_css=””]

Founded in 2006 and headquartered in San Mateo, CA, Coupa Software provides a cloud-based spend management platform for businesses. The platform consists of procurement, invoicing, expense management and other supporting modules that help companies to manage spend.[/td_block_text_with_title][td_block_text_with_title custom_title=”Business Model” tdc_css=””]Coupa Software, follows most of the Software-as-a-Service (SaaS) business model,  generates the majority of revenue from the subscription to the spend management platform. The company also derives professional services revenues from implementation and configuration services.[/td_block_text_with_title][td_block_text_with_title custom_title=”IPO History” tdc_css=””]On 10/6/2016, Coupa went public on Nasdaq led by Morgan Stanley, J.P. Morgan, Barclays, and RBC. The IPO was priced at $18.00 per share, high-end of the raised range. With a full subscription of 7.4 million increased offered shares and 15% overallotment option fully exercised, the company was valued at ca. $886 million. The stock opened at $35.00/share, a 94.4% jump, but closed the first day down at $33.28/share.[/td_block_text_with_title][td_block_text_with_title custom_title=”Historical Performance” tdc_css=””][/td_block_text_with_title][td_block_text_with_title custom_title=”Growth Outlook” tdc_css=””][/td_block_text_with_title][td_block_text_with_title custom_title=”Industry Comparison”][/td_block_text_with_title]

Company

Stock

Symbol

IPO/Spin-off

Date

Initial
Return

Offer to Date

2019

YTD

Beta to S&P

EPS

2018

Revenue

(in millions)

2018 Net Income

(in millions)

P/S
ratio

Coupa

COUP US

10/6/2016

84.89%

640.78%

112.1%

1.47

-$0.96

260.37

-55.52

25.5x

SAP Ariba

ARBA US

Ariba went public on 6/23/1999

Acquired by SAP in 2012 for ca. $4.3 billion, at a 19.55% premium

SAP Concur

CNQR US

Concur Technologies went public on 12/15/1998

Acquired by SAP in 2014 for ca. $7.2 billion, at a 19.67% premium

Jagger

SQI US

SciQuest (known as JAGGAER now) went public in 9/24/2010 with an initial return of 29.16%, was acquired by Accell-KKR in 2016 for $333.10 million, a 33.76% premium

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