Another day, another IPO.
Medallia , which is a cloud-based customer experience company, went public Friday, July 19.
The company priced at $21 Thursday night.
Its first trade Friday morning was $34.
Leslie Stretch, CEO, broke down how his company is trying to stand out in the midst of IPO season and why the company has virtually no competitors in its space.
When asked about standing out amongst all of the other tech IPO's, Stretch replied, "We are a deep learning, Silicon Valley company that's about helping our customers understand their customers as they have experiences, as they buy and consume on a daily basis.
So understanding them in the moment, in real-time.
And for that--to do that at scale with privacy and security requires deep Silicon Valley technology.
It really sets us apart from the other survey companies and people like that, that right there.
So that's what we're all about." And, while the company has been profitable in the past, it is not currently profitable.
"We've really improved the bottom line significantly in the last few quarters, but right now there's a big market to invest in.
So go to market and innovation in the roadmap, you know, voice--we're going to speak our feedback in the future.
We're going to speak to the people that sellers things and things that we consume.
And so we're investing in that and machine learning and AI and all the things that really separate us from the crowd.
So I'm fine with our financial profile right now at this stage in the company's maturity," he said.
Watch the full interview above.
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