Medallia, an enterprise customer experience and feedback management platform, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $247 million by offering 14.5 million shares (8% insider) at a price range of $16 to $18. At the midpoint of the proposed range, Medallia would command a fully diluted market value of $2.8 billion.
Medallia was founded in 2001 and booked $337 million in sales for the 12 months ended April 30, 2019. It plans to list on the NYSE under the symbol MDLA. BofA Merrill Lynch, Citi, Wells Fargo Securities and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of July 15, 2019.
