Bill.com is a leading provider of cloud-based software that simplifies, digitizes, and automates back-office financial processes for small and mid-sized businesses. Customers come from all industries, ranging from startups to established brands and nonprofits to franchises.
The company's cash flow management software helps businesses connect and do business by saving them more than 50 percent of the time typically spent on financial back-office operations, enabling business and finance professionals to consolidate and automate their payments processes for accounts payable, accounts receivable and cash flow management tasks.
Recent research shows that 90% percent of surveyed U.S. businesses still rely on paper checks and other manual processes. Issues like long approval cycles and missing information on invoices are the leading cause of payment delays and missed discounts. It's a time-consuming, inefficient, and costly way to work. Bill.com has been helping businesses streamline their financial workflow, generate and process invoices, streamline approvals, send and receive payments, sync with their accounting system, and manage their cash. As a result, the company are central to accounts payable and accounts receivable operations for businesses.
The company on the mission - is to make it simple to connect and do business. Today, over 81,000 customers trust Bill's platform to manage their financial workflows and process their payments, which totaled over $70 billion for fiscal 2019, and nearly $22 billion for the three months ended September 30, 2019.
As of June 30, 2019, Bill.com had over 1.8 million network members. Leadership define network members as our customers plus their suppliers and clients with accounts on the platform. Bill's network members entrust us with their bank account details, enabling them to connect, invoice, pay, and get paid electronically.
The company reported (based on the S1 form) a loss of $7.3 million on revenue of $108.4 million in the year ended June 30, 2019, compared with a loss of $7.2 million on revenue of $64.9 million in the previous fiscal year. It has built up a network of more than three million members paying and getting paid with its technology and manages more than $60 billion in annual payment volume.
IPO Bookrunners - Goldman Sachs - BofA Securities - Jefferies
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Price Per share Table
Bill.com oversubscribed more than X14
Bill.com raises price range for planned IPO to $19. to $21 vs. prior $16 to $18 a share
WSJ Opinion - Bill.com IPO is worth the tab
The company uses a small amount of resources to attract investors as part of the show a week before the IPO. Low promotion signal.
GS analyst opinion - Bill.com cant refresh boring tech IPO
GSA Metric - based on current Fiserv [FISV] revenue multiple ~x9, ACI Worldwide [ACIW] revenue multiple ~x3.6, Bill.com is overvalued with valuation $1.2B-$1.35B.
Bill.com set pricing ranges ahead of IPO
Bill.com IPO coming soon at discount
Bill.com files for IPO, Seeks $100M In NYSE Float
Bill.com said that has 81,000 customers, but years earlier they had more customers
Bill.com has split shares to make the valuation more adorable for an IPO.
Bill.com makes move into midmarket
Bill.com reaches 137 countries
Bill.com opens Houston office. Burn rate increased
Former PayPal executive Josh Goines and Industry Veterans Pete Kight, Steve Cakebread joins Bill.com to lead strategic partnerships
Bill.com said that not ready to IPO
Mastercard to Acquire Transactis
Bill.com partners up with Mastercard to improve small business
Bill.com launches industry’s first AI-enabled business payments platform
Amex launch virtual payments for vendors
Fintech executive Bora Chung joins Bill.com as senior vice president of product
Bill.com named to the 2018 CB Insights Fintech 250 list of Fastest-Growing Fintech Startups
Bill.com honored by Goldman Sachs for Entrepreneurship
Bill.com marks significant milestone surpassing $50B in business payments processed annually
Bill.com introduces international business payments
Bill.com revs up expansion plan by adding two senior leaders
JPMorgan acquires WePay to compete with Bill.com
Bill.com has 100,000 customers and claims that over 1% of all US businesses have used its service to either pay or to get paid
JPMorgan, Temasek lead $100 million investment in payments company Bill.com
Chase signs with Bill.com to provide electronic Billing & Payments
JPMorgan seeks to banish paper payments with fintech venture
Commerce Bank partners with Bill.com to reinvent business
EY names Bill.com founder René Lacerte entrepreneur of the Year
Bill.com warns banks over SME mobile apps
Forbes - Bill.com helps to accelerate invoice payments
Bill.com was added to 2014 CNBC's Disruptor 50
Bank of America and Merrill Lynch introduces CashPro BillPay
Bill.com integrates with expensive for a streamlined expense
Bill.com now offers a certification program for accounting firms
Forbes - The SaaS Roll-Up Begins for Bill.com