This brought Vroom’s total funding past $700 million and the company’s value to $1.5 billion. In terms of timing, Vroom Inc., an online used-car retailer, is striking while the iron is hot with its Initial Public Offering (IPO) announcement.
The firm operates an online marketplace for buying and selling used cars in the United States. Vroom (VRM) has filed to raise $100 million in an IPO of its common stock, according to an S-1 registration statement, although the final figure may be higher.. My opinion on the IPO is a BUY at up to $16.00 per share.
Vroom’s IPO price of at $22 a share was upped from a previous range of $18-$20. New York, NY-based Vroom was founded to source high demand used automobiles in the U.S. and sell them to buyers via its ecommerce website. But investors interested in the Vroom IPO should know why the startup is moving to the public markets. The IPO market isn’t highly active due to the coronavirus.
The online auto retailer announced Monday it filed an S-1 registration statement with the Securities and Exchange Commission for a proposed initial public offering … Vroom has filed to raise $100 million in a U.S. IPO, although the final figure may be higher. The Vroom IPO. Vroom plans to go public. The company is offering about 21.25 million shares, for a market capitalization of around $2.48 billion. Vroom Stock: Why Now? In December 2019, Vroom closed on $250 million in funding. The Vroom IPO set the company’s market cap at around $2.5 billion, but is it a buy?