NerdWallet proves you can make money writing online – as long as you write about money.
The personal finance website burned the brightest of the three IPOs on Thursday, skyrocketing from an original offering price of $ 18 to $ 28.30. Now valued at $ 2 billion, it belongs to the small elite class of media unicorns, including Buzzfeed, Vice, and Vox.
IPOing a financial advisory website is a bit like a Kardashian posting a new perfume on Instagram – there is a built-in customer base. NerdWallet is already considered one of the few credible money websites in the midst of the junkyard of fraudulent personal finance lists. The site has been profitable for several years thanks to the lucrative “affiliate fees” that supposedly have no influence on the content.
The company will use the inflow of funds to expand its content, pay off a small debt burden and provide for “potential” M&A following the purchase of the UK website Know Your Money and Fundera, a credit comparison tool.
Other newcomers to the market on Thursday include the winning Cadre Holdings, a supplier of tactical equipment to the police, military and rescue workers; and Loser Arhaus, a high-end furniture brand.
- Cadre, which supplies “safety and survivability” products for first responders (AKA uniforms, holsters, and fingerprint powder), closed a little over 2% at 15.29 months after it planned an initial public offering in August of $ 16-19 due to a the cooling market had withdrawn.
- Old-school luxury furniture maker Arhaus (AKA founded in 1986, not 2014) debuted nearly 4% below its already compressed share price of $ 12.50. With limited brand awareness and a more niche clientele – 50% making over $ 200,000 – the brand isn’t doing for investors the way it does at Pottery Barn owned by West Elm and Williams Sonoma, whose revenue rose 40-50% in the second quarter. has risen, is the case for customers.
Take that away
Providing paramedics with walkie talkies and 40 people with mortgage advice isn’t exactly the most glamorous grind, but a unique specialty and strong brand can go a long way.