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Bill.com Files for $100M IPO
- jkuria 7y agoAre they a direct competitor of Stripe?
- aaronmgdr 7y agoTheir core business is more around invoicing, so i wouldn't say so.
- meesles 7y agoRecurly may be a more similar competitor
- sbr464 7y agoAccepting ACH payments on larger client invoices (30-100k+) for a few dollars is why we use them at one company.
- toomuchtodo 7y agoIs the experience sticky? Stripe supports ACH transfers, so I would assume it would be straightforward to build on top of Stripe to replicate bill.com’s functionality.
- pbreit 7y agoNo. Speciality is Accounts Payable which is quite a different business.
- usmannk 7y agoImportant that they're aiming to _raise_ $100MM, not going public at a $100MM valuation as I first thought. Funny how IPOing to raise capital has become secondary to IPOing to provide liquidity in this late stage of the tech credit cycle.
- pavlov 7y agoTech IPOs seem to be splitting into two very different tiers. Some don't need the cash and may even do a direct listing with no capital raise, like Spotify and Slack. Others have such huge losses that the IPO cash is acutely needed. I'd put Lyft and Uber in that bucket. WeWork of course is the poster child — it nearly collapsed after the IPO was pulled and cash from public markets wasn't forthcoming after all.
- runn1ng 7y agoWeWork is not “tech IPO” though.
- chirau 7y agoWhilst I acknowledge the technical correctness of your remark, in practice and for most intents and purposes, WeWork is being considered as a tech IPO
- ghego1 7y agoSpotify went for a direct listing because they were in desperate need for money
- deleted 7y ago[deleted]
- pbreit 7y agoIPOs have always historically been fundraising events.
- rossdavidh 7y agoNot profitable, has never been profitable, its losses are actually growing over time in absolute terms, it's IPO'ing anyway...and yet, it looks (even to me) prudent and reasonable in the current climate.
- fmpwizard 7y agoSomewhat off topic but, when I simply typed the site bill.com on Firefox's private browsing, scrolled down a bit, they show me a popup to chat and they have my first and last name there. The same thing happened when I went on my cell using Firefox Focus, which doesn't keep any cookies. 1. Anyone else seeing this? 2. I hate it 3. Where do they get this info from?
- bduerst 7y agoNothing for me. This is a Drift chat widget so they have your information stored somewhere, probably from some interaction you had with it on a different site. They also appear to do IP lookup as well.
- fmpwizard 7y agoThanks, it looks like it is IP lookup, I used another phone (not mine) and they also showed my name there.
- masonic 7y agoI got right into their site, but boy, what a godawful chat popup (which doesn't actually let you chat).
- rfurmani 7y agoThey had my company name there, even in incognito mode
- pythonwutang 7y agoWould this make them a “centi-corn”?
- skinnymuch 7y agoNot sure if the joke was if they were valued at $100M or not. But they last raised at Unicorn valuation. If they’re selling 10% of the company or less for $100M, then they’ll still be a Unicorn.
- creativipy 7y agoI think that was the joke. I thought that's what the headline meant at first too. The headline could have been clearer.
- jonwachob91 7y agoI have never had a good experience with their platform, or their customer support. I've had an account bug with them for over a year, and every time I reach out to their customer support they just tell me I'm wrong and everything is okay with my account... Meanwhile, the dashboard is essentially "bricked" for me and I have to send invoices to my customer via email (how I prefer, but not how my customer that pays all their bills through bill.com prefers).
- uptown 7y ago"We were incorporated in 2006 and have experienced net losses and negative cash flows from operations since inception." 13 years of unprofitability?
- barry-cotter 7y agoIf you have positive return on cash invested people will be happy to keep giving you more money for decades even if you plough all your profits back into expansion. Amazon has had the option of returning profits for decades and has always aimed to just barely make a profit. > Amazon was founded in 1994, first traded publicly in 1997, and didn’t turn a profit until 2001. https://www.investopedia.com/stock-analysis/031414/amazon-never-makes-money-no-one-cares-amzn-aapl-wag-azo.aspx https://www.investopedia.com/stock-analysis/031414/amazon-ne...
- uptown 7y agoAmazon is clearly an outlier. Let’s not equate every unprofitable company with them.
- barry-cotter 7y agoNot every company is Amazon but Bill.com is showing 57% year on year growth this year after 71% last year, with over $35m in quarterly revenue for the last quarter. With those kinds of numbers they can invest less in customer acquisition and turn on the money tap any time they want. > Bill.com reported about $35.2 million in total revenue for the third quarter of 2019, representing nearly 57 percent year-over-year growth compared to $22.4 million in total revenue for the third quarter of 2018. For context, Bill.com’s total revenue grew 71 percent between the third quarter of 2017 and the third quarter of 2018. The company’s growth is slowing down, which isn’t unusual as companies mature.
- semi-extrinsic 7y agoI think the unclear part about this theory is the case where your customer acquisition cost is partly a customer retention cost. As long as you're sure that's not the case, go ahead.
- useful 7y agoAs a contractor, I've been paid via Bill.com it was very easy to collect and send money. (not like I had a choice in the platform)
- t34543 7y agoI used bill.com and ran quite a bit of money through there but I find the UX to be terrible. Second only to WorkDay. I never asked but maybe the accounting team loves it. As an approver and receiver (separate companies) it never made sense to me. I used it only because I had to.
- edoceo 7y agoCheckout transferwise. Similar function, less jank