SailPoint, a cybersecurity company, is making a return to the public markets with its initial public offering (IPO) on the Nasdaq. The company priced its IPO at the top end of its range, raising $1.38 billion in proceeds and valuing the company at $12.6 billion. SailPoint’s closest competitor, Okta, is valued at $16.8 billion.
Founder and CEO Mark McClain highlighted the company’s growth at scale with profitability as a key factor that attracted investors. SailPoint previously went public in 2017, finishing its first day of trading with an 8.3% increase. The company was later taken private by Thoma Bravo in 2022 for $6.9 billion.
Today, SailPoint is a more mature company with estimated annual recurring revenue of $875 million to $877 million for the year ending in January 2025. Despite producing losses, the company has shown improvements in its financial performance. SailPoint will now operate as a controlled company with Thoma Bravo owning 88% post-IPO.
The tech IPO market in 2025 is expected to see more companies going public, with SailPoint being the first big test. Renaissance Macro predicts a “banner” year for IPOs, estimating 155 to 195 companies coming to market and potentially raising $40 billion to $55 billion in funding.
McClain believes that a less regulatory-oriented administration will create a friendlier backdrop for businesses to operate. The IPO market showed improvement in 2024, with a 38% increase in the number of IPOs and a 48% rise in proceeds. In total, 176 US IPOs raised $33 billion in 2024.
Brian Sozzi, Yahoo Finance’s Executive Editor, highlighted the latest stock market news and financial analysis. For more updates, you can follow Sozzi on Twitter, Instagram, and LinkedIn. Stay tuned for the latest financial and business news from Yahoo Finance. “New Study Shows Link Between Social Media Use and Mental Health Issues”
A new study published in the Journal of Mental Health has revealed a strong link between heavy social media use and mental health issues. The study, conducted by researchers at the University of California, surveyed over 1,000 adults aged 18-35 and found that those who spent more than two hours a day on social media were more likely to experience symptoms of depression and anxiety.
The researchers found that individuals who spent a significant amount of time on social media were more likely to compare themselves to others and experience feelings of inadequacy and low self-esteem. This constant comparison to others can lead to increased levels of stress and anxiety, as well as feelings of loneliness and isolation.
In addition, the study found that heavy social media use was also associated with poor sleep quality and decreased overall well-being. The constant exposure to negative or triggering content on social media platforms can disrupt sleep patterns and contribute to feelings of fatigue and irritability.
The researchers also noted that the use of social media as a means of seeking validation and approval from others can lead to a reliance on external sources for self-worth, rather than developing a strong sense of self-esteem from within.
Despite these concerning findings, the researchers emphasized that not all social media use is harmful. They noted that using social media in moderation and being mindful of the content consumed can help mitigate the negative effects on mental health.
To help combat the negative impact of social media on mental health, the researchers recommend setting boundaries on social media use, such as limiting screen time and taking breaks from social media when feeling overwhelmed. They also suggest engaging in activities that promote mental well-being, such as exercise, meditation, and spending time with loved ones in person.
Overall, this study highlights the importance of being mindful of our social media consumption and its potential impact on our mental health. By being aware of the negative effects of heavy social media use and taking steps to prioritize our mental well-being, we can work towards creating a healthier relationship with social media and ourselves.
