initial public offerings (IPOs) trading on American exchanges

Saturday, September 10, 2022

Chobani withdraws plan for IPO

Chobani is withdrawing plans for an initial public offering, according to a regulatory filing on Friday.
The food and beverage company filed in November to go public on the Nasdaq using the ticker “CHO.”
It’s been a rocky year for the stock market, leading to a drought of IPOs.

Reuters reported the yogurt maker was seeking a valuation of more than $10 billion.

About Chibani
From the purchase of their first plant in 2005 with a handful of employees, Chobani invented an entirely new food category in the United States—Greek yogurt—that completely disrupted an old one.

They were early to identify a once-in-a-generation mega-trend towards healthier eating preferences and leveraged their innovation and brand-building capabilities to create a portfolio of high-quality yogurt products that rapidly gained market share.

Chobani distributed these products into mass market channels—not just specialty stores—where nutritious packaged food typically had not been available and positioned our offerings with pricing that was attractive and accessible to all consumers.

Today the Chobani brand is synonymous with high-quality, delicious, healthy food and making a social and environmental impact, both of which resonate very strongly in the current marketplace.

They currently sell their products in single-serve, multi-serve, and/or multi-pack formats through approximately 95,000 retail locations in the United States.

Chobani also has an international presence through the operation of a manufacturing facility in Melbourne, Australia and participates in certain international export markets, such as Mexico and Canada.

Thursday, September 1, 2022

Getty Images (GETY) began trading on the NYSE on Mon 25 July 22

Getty Images Holdings, Inc. operates as a visual content creator and marketplace in the United States and internationally.
  • Sector(s): Communication Services
  • Industry: Internet Content & Information
  • Full Time Employees: 1,600 
  • Founded in 1995 
  • Based in Seattle, Washington.
On July 25, it completed a SPAC deal with CC Neuberger Principal Holdings II and began trading under the ticker GETY.

Jennifer Leyden SVP and CFO of Getty Images.

Aug 15, 22

Getty Images was founded in 1995 and listed on the Nasdaq National Market in July 1996. But it went private when acquired by private equity firm Hellman & Friedman in 2008. It was then bought by the Getty family in 2018. The company’s key customers are ad and graphic design companies, print and online media, and corporate marketing, communications, and in-house design departments.

In Q2, Getty Images reported revenue of $233.3 million, an increase of 4.1% year over year. Editorial revenue reached $82.9 million, up 15% year over year and 19.8% on a currency-neutral basis. Getty Images has photographers covering events all over the world, and you’ve probably seen their work in the news. I asked Leyden, CFO since January, but with the company since 2016 in various financial leadership roles, how the company deals with the risk of dispatching photographers covering the war in Ukraine, for example. 

The tech space
Getty Images’ library of owned content, includes “an archive with about 135 million images dating back to the beginning of photography,” which will be an asset when it comes to Web3.0 and NFT (non-fungible tokens), Leyden says. NFTs can be used to represent photos on the blockchain.

The company has formed a multi-year partnership with Candy Digital, a digital collectible company, to become the exclusive developer and marketplace for Getty Images NFTs. “We’ll start with some of our own content, and basically sell [that] content as NFTs with Candy Digital being marketplace,” Leyden says. I asked Getty Images if they will split revenue from image sales with Candy Digital, but was told: “the terms of the deal are not something we can disclose.”