Smartsheet files for initial public offering after Dropbox, Zscalar debuts
Smartsheet Inc. said it is launching an initial public offering, according to a filing with the Securities and Exchange Commission Monday. The Bellevue, Wash.-based cloud-based business collaboration software said it hopes to raise up to $100 million but that amount is often used as a placeholder and revised in a later filing. Morgan Stanley, J.P. Morgan, Jefferies and RBC Capital Markets are listed as underwriters. Smartsheet reported fiscal 2018 revenue of $111.3 million with a loss of $49.1 million, compared to revenue of $67 million and a loss of $15.2 million in the year previous. The company plans to list under the ticker symbol “SMAR” on the New York Stock Exchange. The filing comes following the success of tech IPOs like Dropbox Inc. and Zscalar Inc. .