Coupa files to IPO

Coupa, a company that offers cloud services for managing invoices, expenses, inventory, and procurement, today filed preliminary paperwork to go public, revealing plans to raise $75 million. The company intends to trade on the Nasdaq Global Market under the symbol COUP. Let’s say you were fifteen years old when meatloaf’s paradise by the dashboard light came out and you just absolutely went crazy every time you heard buy papers college it! Joint bookrunners for the deal include Morgan Stanley, JP Morgan, Barclays, RBC Capital Markets, JMP Securities, and Raymond James. Unlike other finance management software vendors, Coupa directs its internal salespeople to go after companies and organizations with more than 1,000 employees. Coupa’s biggest legacy competitors include Oracle and SAP. In the quarter that ended on July 31, Coupa produced a $12. 4 million net loss on $31. 1 million in revenue, according to today’s. Revenue for that quarter was up 66 percent year over year. Most of the company’s revenue comes from subscription services; the rest comes from Coupa’s “professional services and other” category. “We have a history of cumulative losses, and we do not expect to be profitable for the foreseeable future,” the company warns.