![]() The other largest advantage is that a SPAC merger eliminates some-but certainly not all-of the risk associated with going public during a period of volatility in the market. When merging with a SPAC, the existing company has the opportunity to retain a larger stake in their business while also gaining access to a larger pool of capital than they would previously have been able to. The most prominent reason is that a SPAC offers access to more capital than a traditional IPO does. There are many reasons to choose a SPAC as the route of choice for going to market, but a few of them stand out head and shoulders above the rest. That’s when the popularity of SPACs skyrocketed, making the process the IPO technique of choice for almost 30 percent of all new market offerings that year. In fact, that statistic held its post until 2019. At the time, SPACs were considered a lower echelon of sorts. The concept of a SPAC merger originated in the 1990s, but maintained a relatively low share of IPOs, only being used in around three percent of all IPOs. A relatively new way to go to market, a SPAC merger occurs when an existing company (in this case, BarkBox) is acquired by a blank-check firm (Northern Star Acquisition Corp.), after the blank-check firm has acquired capital through the IPO process. Path to the BarkBox IPOīarkBox has chosen a non-traditional route to take their company public, via a SPAC merger. The steady increase in funding has also led to a steady increase in the company’s valuation over the years, and it currently sits at a $1.6 billion valuation heading into its IPO. ![]() August Capital, RRE Ventures, and Resolute Ventures are the lead investors, and August Capital partner Tripp Jones also sits on BarkBox’s board of directors.īy the numbers, the dog-loving company’s fundraising has grown steadily since its founding: This means consumers can make one-time purchases of various BarkBox products-and the company avoids alienating buyers who aren’t ready for a full subscription.īarkbox is currently funded by 17 different investors. Joneja previously worked his way up to an executive role at Amazon before transitioning into the pet sector.īarkBox has also expanded into traditional retail stores like Target. Manish Joneja is the company’s new CEO, and will be leading the company into their IPO. They’ve operated as a private company since their founding, and until last year were led by Co-Founder Meeker in his role as CEO. The company has expanded their line of offerings to include Bark Bright, Bark Essentials, Bark Eats, and BarkBuddy.Ī quick rundown of the BarkBox company historyīark was founded in 2011 by Carly Strife, Matt Meeker, and Henrik Werdelin, and is currently headquartered in New York City.Each box is customizable to an individual dog’s wants and needs-or, what their human wants for them.The firm that they will be merging with is Northern Star Acquisition Corp., in a deal valued at $1.6 billion. ![]() The BarkBox IPO is occurring via a SPAC (special purpose acquisition companies).Meeker originally served as CEO, but was succeeded in 2020 by Manish Joneja, who remains at the helm today. Carly Strife, Matt Meeker, and Henrik Werdelin are the company’s three founders.Since then, they’ve grown to a customer base of over 1 million pups served each month. They were early adopters of this business model, launching in December of 2011. BarkBox is a member of the growing subscription box industry, with a simple twist-it’s forspac your dog.Here’s what we know so far about the company’s forthcoming IPO, including info on BarkBox fundraising, and when the BarkBox IPO date will be. ![]() Recently, other companies in the pet supplies sector such as Petco and Chewy have found great success after their IPO. Late last year, BarkBox announced that they would be going public in 2021 via an IPO on the NYSE. ![]()
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