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Illustration: Sarah Grillo/Axios

GoodRx, a price comparison app for prescription drugs at local pharmacies, on Tuesday night raised $1.14 billion in its IPO, Axios has learned.

By the numbers: GoodRx priced its shares at $33 a piece, above its $24-$28 per share offering range, which will give it an initial market cap of around $12.7 billion.

  • The company will begin listing Wednesday on the Nasdaq under ticker GDRX, and used Morgan Stanley as lead underwriter.
  • It reports nearly $55 million of net income on $257 million in revenue for the first half of 2020, making it one of precious few profitable tech startups to go public.
  • Existing investor Silver Lake agreed to buy another $100 million of stock via the IPO. Prior to the IPO, Silver Lake had a 35.3% ownership stake.
  • Other investors include Francisco Partners (23.7% pre-IPO stake) and Spectrum Equity (15.4%),

Go deeper

Dan Primack, author of Pro Rata
Oct 27, 2020 - Economy & Business

Airbnb picks Nasdaq for its IPO

Illustration: Aïda Amer/Axios

Airbnb on Tuesday announced that it plans to list its shares on the Nasdaq, but didn't provide any additional information about its upcoming IPO.

Timing: The hospitality giant continues to target a 2020 offering, as its long-term rental and domestic business have helped offset some pandemic-related slowdowns.

Dion Rabouin, author of Markets
Oct 27, 2020 - Economy & Business

The U.S.-China cold war is coming to financial markets

Illustration: Sarah Grillo/Axios

Ant Group's $34.5 billion IPO will make the Chinese fintech company the largest listing ever, and its choice to list its shares in Hong Kong and Shanghai rather than New York City marks a pivotal moment that could see the financial industry move towards China.

Why it matters: "This was the first time such a big listing, the largest in human history, was priced outside New York City," Ant Group founder Jack Ma told the Bund Summit in Shanghai Saturday. "We wouldn’t have dared to think about it five years, or even three years ago."

2 hours ago - Health

Ipsos poll: COVID trick-or-treat

Data: Axios/Ipsos poll; Note ±3.3% margin of error for the total sample size; Chart: Andrew Witherspoon/Axios

About half of Americans are worried that trick-or-treating will spread coronavirus in their communities, according to this week's installment of the Axios/Ipsos Coronavirus Index.

Why it matters: This may seem like more evidence that the pandemic is curbing our nation's cherished pastimes. But a closer look reveals something more nuanced about Americans' increased acceptance for risk around activities in which they want to participate.