AppFolio Files For IPO

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Posted 2 years ago

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S&P_BSE_SENSEX_chart.svgProperty marketing software company AppFolio has stepped forward and filed for an initial public offering, according to late reports on Monday.

The filing with United States regulators will go onto the NASDAQ as class A common stock with the ‘APPF’ symbol.

The California-based company creates software for small and medium-sized property managers in addition to providing the MyCase legal software to smaller law firms and was founded in 2006 by Jon Walker and Klaus Schauser.

The move comes after a surge in revenue at the close of the first quarter at the end of last March, totalling $15.8 million.

The bid was underwritten by financial giants Credit Suisse, Morgan Stanley, William Blair and Pacific Crest Securities.

Terms outside of the $100 million fundraising target were not disclosed as far as share prices.

Christopher A. Smith

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