ThoughtSpot, a company that's soon to launch an IPO, is one of the fastest-growing businesses in the world. Their mission is to make searchable data accessible and understandable.
They do this by providing companies with AI-powered insights through an app or program that anyone with internet access can use.
This cuts down on the amount of time it takes for reports to be prepared, making it easier for you to handle your business' analytics needs.
They have been around since 2012, but its IPO will be an exciting event for investors in the tech industry. So, here's what you need to know about the ThoughtSpot IPO and their history.
What is ThoughtSpot?
ThoughtSpot is one of the first companies to combine the power of unstructured data with the benefits of an easy keyword search.
They were founded in 2012 by a team of engineers who previously worked for Silicon Valley companies such as Google and Oracle. ThoughtSpot's CEO and co-founder, Ajeet Singh, also co-founded Nutanix.
ThoughtSpot's mission is to help organizations harness their data for insights that drive smarter, quicker decisions. The company has raised millions in venture capital funding from top investors, including Lightspeed Venture Partners and March Capital.
Their technology helps organizations gain immediate insights from data without requiring them to invest in expensive infrastructure or hire a data scientist.
As a result, various organizations use ThoughtSpot—for example, Cigna and Capital One use it to glean insights from their data.
What We Know About ThoughtSpot's IPO
ThoughtSpot is a relatively new kid on the block in the high-tech world. It was founded in 2012, and it's been going strong ever since.
What's more, its founders are planning to take it public—that is, sell shares of the company to the general public for the first time.
It's not surprising that a company like ThoughtSpot would want to go public at some point; after all, it seems like every other start-up in Silicon Valley is doing so these days.
However, what exactly is an IPO? And why do companies decide to go public?
An IPO (initial public offering) is when a previously privately owned company decides to sell shares of its stock publicly for the first time. As a result, anyone can buy shares in them, not just their employees.
This allows the company to raise money by selling its stock, which it can use to expand operations, hire new employees, and more.
Many companies take this common step before they begin their IPO journey. Yet, ThoughSpot never took that step. Instead, it seems that the company is waiting for its business to be entirely cloud-based before it goes public.
Other Issues Affecting Thoughtspot's IPO
ThoughtSpot isn't yet ready for an IPO. Although the company has been successful so far, it looks as though some issues will need to be addressed before an initial public offering becomes possible.
These issues include:
Planning for the Future As we all know, new technology can become an old hat in the blink of an eye. It's not enough to create an innovative product; it must also be able to solve current problems in a way that makes it unique and attractive to customers. This requires the company to have a clear vision for how it'll continue to innovate and adapt over time.
Expanding Into New Markets ThoughtSpot has already made significant progress towards this goal by expanding into the healthcare and financial services industries. Regardless, there are still many opportunities for growth in these industries and others where they could apply their AI technology. For example, retail sales analytics or even gaming—and that's just the beginning!
Improving Product Quality Another critical factor in preparing for an IPO is improving product quality. To be successful, ThoughtSpot needs to continue building out its product and ensuring there are no bugs or issues with its operations. They will also need to make sure that their platform works well with other tools and technologies that are commonly used by companies today.
The ThoughtSpot IPO is a huge step forward for the company and its investors. Though there's no specific date yet, we can expect it to happen sometime soon.
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