Bill.com IPOed a while back, in December, 2019. However, they seem to have needed more funding after that, and took on a pile of debt: > Subsequent to its IPO

Bill.com IPOed a while back, in December, 2019. However, they seem to have needed more funding after that, and took on a pile of debt: > Subsequent to its IPO in December 2019, Bill.com completed three rounds of financing. The company closed an equity follow-on in June 2020, raising net proceeds of $308 million, a convertible debt offering in December 2020, raising net proceeds of $1.1 billion. In September 2021, Bill.com raised $1.9 billion in net proceeds through a concurrent offering of equity and convertible notes.[1] Looks like a lot of this went towards two big acquisitions in 2021.[2] [1] https://en.wikipedia.org/wiki/Bill.com#Funding https://en.wikipedia.org/wiki/Bill.com#Funding [2] https://en.wikipedia.org/wiki/Bill.com#Milestones https://en.wikipedia.org/wiki/Bill.com#Milestones