Apr 13, 2017

Yext prices IPO above offering range

Yext is the latest tech company to price its IPO, raising over $115 million tonight by pricing 10.5 million shares at $11 a piece. That's above the top of its proposed $8-$10 per share range, giving it an initial market cap of around $940 million and a fully-diluted value north of $1.3 billion. It will begin trading tomorrow on the New York Stock Exchange under ticker symbol YEXT.

What it does: Yext is a New York-based "knowledge engine" that helps local businesses sync their data across services like Yelp, Apple Maps and Instagram. So consider it at the retail intersection of local, social, mobile and physical.

Trend: This is just the latest in a mini-burst of enterprise tech IPOs, following companies like MuleSoft and Okta. It's worth noting, however, that the activity increase is more reflective of last year's dearth of such offerings than a volume increase over historical norms. In other words, it's all relative.

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Axios

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Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The first case of the novel coronavirus in a person in the U.S. who did not recently return from a foreign country nor have contact with a confirmed case has been detected, the CDC said Tuesday.

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Six people died in a shooting at the Milwaukee Molson Coors brewery complex on Wednesday, including the shooter, Mayor Tom Barrett told reporters at an evening press conference with local police.

What's happening: Police said "there is no active threat" just before 6 pm ET, but noted the scene remains active. Police chief Alfonso Morales told reporters that officers have "more than 20 buildings we have to secure" at the complex and they do not currently have all employees accounted for, as more than 1,000 were at the complex during the shooting.

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President Trump announced at a press briefing Wednesday evening that he'll be putting Vice President Mike Pence in charge of leading the administration's response to the coronavirus.

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