*By Christian Smith*
Software company SolarWinds ($SWI), which went public on the New York Stock Exchange on Friday, isn't concerned about the bumpy market for tech stocks, said CEO Kevin Thompson.
"We've got an advantage that we are a company that grows quickly, but we're incredibly profitable," Thompson said Friday in an interview on Cheddar.
"We generate 50 cents of profit on every dollar of revenue, which allowed us to get out in a market that other software companies really would have been afraid to brave."
Still, there were challenges to bear. The IT management software company not only cut the size of its initial public offering from 42 million shares to 25 million, but also priced its stock at $15 ー the low end of an already-reduced range. The stock closed the day up just $0.03.
SolarWinds isn't new to the public market. The company was previously listed on the New York Stock Exchange from 2009 until it was acquired by private equity firms Thoma Bravo and Silver Lake in 2016.
Thompson said that he learned major lessons from his operation's first stint as a public company.
"You've got to be patient, and you've got to make sure you're able to deliver on all of the commitments you make to Wall Street," Thompson said.
SolarWinds brought in almost $800 million in revenue in for the 12 months ended June 30, 2018.
Thompson said the company didn't need to raise capital, but doing so will help it pay down the debt it took on in going private and to get to its next phase.
"This is really the next step in our evolution," Thompson said.
For full interview [click here](https://cheddar.com/videos/software-company-solarwinds-goes-public-for-a-second-time).
Seth Schachner, Managing Director at StratAmericas, weighs in on Spotify earnings and why that headline-grabbing deal with Joe Rogan could be worth that $250 million.
Mitch Roschelle, Managing Director at Madison Ventures, shares why investors may be waiting longer than expected for those interest rate cuts, and why he’s watching tech, oil, and homebuilder stocks.
Amazon saw 24% growth in their Thursday Night Football audience in 2023. Subscribers will be rewarded with even more sports, but not without enduring more ads — unless they pay extra, of course.
Low unemployment + 350 thousand new jobs in January = ...more layoffs? A bunch of tech and retail companies have laid and are laying off employees after a nationwide hiring surge during the pandemic.
The most magical place on Earth wants a protective order to keep Gov. Ron DeSantis' appointees from knowing how the magic happens. A federal judge dismissed a separate Disney lawsuit last week.
Just days before the 49ers and Chiefs play in Las Vegas, Joe Pompliano, Investor at Pomp Investments and author of the Huddle Up Newsletter, discusses why he thinks this could be the most-watched Super Bowl in history.
Chris Versace of Tematica Research LLC shares his thoughts on Jerome Powell's latest comments, the timing of those crucial rate cuts, and what semiconductor stocks he's watching closely.
We battle an onslaught of advertising every time we scroll through social media. Deinfluencers propose a less pricey, more honest approach to how we shop online. Could they convince us to spend less?
