US-based #email service #Startup SendGrid, which known for handling billions of emails for Airbnb confirmation, got some big business news this week. The Denver-based startup filed its application for its #IPO (initial public offering) on the NYSE (New York Stock Exchange).

According to TechCrunch, the Denver-based startup has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) this week. However, details about the IPO price range and number of share have not yet determined. SendGrid will be trading its common stock on the NYSE under the ticker symbol SEND, The Denver Post reported.

About email delivery service SendGrid

Founded in 2009 and based in Denver, Colorado, SendGrid is a cloud-based customer communication platform that provides an email marketing solutions.

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The company provides an industry-leading email delivery services.

The startup is known for managing various types of email delivery services, which include marketing email, shipping notifications, sign-up notifications or email, email newsletters and friend requests. Additionally, the company also provides internet service provider (ISP) domain keys, feedback loops, sender policy framework (SPF), link tracking, open rate reporting, and monitoring.

SendGrid’s customers include Airbnb, Foursquare, Pandora, Twilio and Uber. The company also has an office and operates in Orange (California), Boulder (Colorado), Redwood City (California) and London in the UK.

According to its CrunchBase’s profile, SendGrid has already raised a total of $80 million from its six funding rounds. The company’s major investors and largest shareholders include Bain Capital Ventures, Foundry Group, SoftTech VC, Bessemer Venture Partners, TechStar Ventures and Byron Deeter.

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Other backers include individual investors like David Cohen, Matt Mullenweg, Scott Petry, and Dave McClure. SendGrid claims that it competes with the likes of MailChimp, SparkPost, Oracle, and Salesforce.com.

About SendGrid’s IPO

SendGrid is not the first Colorado-based tech company that has gone public. As mentioned earlier by The Denver Post, the email service will now join a growing list of Colorado-based tech companies that have gone public in the past few years. These include Rally Software in 2013 and the telecom specialist Zayo Group in 2014.

According to The Denver Post, the email service first mentioned its planned IPO a year ago, when it received a $33 million fresh funding from its top investors. During that time, SendGrid intentionally hinted plans of going for an IPO.

In the company’s SEC filing, the email service said that it has processed more than 1 trillion emails and that more than 36 percent of its total revenue comes outside the US market. Additionally, SendGrid’s SEC filing also documented its annual revenues and net losses.

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The Denver Post learned that the company has made some serious revenue growth in 2014. The website also detailed the company’s net losses in the past years, including the first six months of 2017.

The Denver-based company officially launched after participating in Techstars Startup Accelerator Program, a three-month mentorship accelerator program that helps and guides startups succeed. US-based financial giants Morgan Stanley and J.P. Morgan will be managing SendGrid’s IPO.

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