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June 2, 2021, 8:53 a.m. EDT

TaskUs sets IPO terms, with expected pricing valuing company at up to $2.3 billion

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By Tomi Kilgore

TaskUs Inc. /zigman2/quotes/227230906/composite TASK +5.71% has set terms for its initial public offering, in which the Texas-based next-generation customer experience company could be valued at up to $2.33 billion. The company, whose customers include Uber Technologies Inc. /zigman2/quotes/211348248/composite UBER -0.23% , Netflix Inc. /zigman2/quotes/202353025/composite NFLX +0.71% and Coinbase Global Inc. /zigman2/quotes/225893452/composite COIN -0.51% , said the IPO is expected to price between $22 and $24 a share. The company is offering 5.55 million shares in the IPO, to raise up to $133.3 million, and selling shareholders are offering 7.65 shares, for a total offering of 13.20 million shares. The stock is expected to trade on the Nasdaq under the ticker symbol "TASK." There are 16 underwriters, led by Goldman Sachs and J.P. Morgan. The company recorded net income of $34.5 million on service revenue of $478.0 million in 2020, after income of $33.9 million on revenue of $359.7 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -0.80% has lost 9.2% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.01% has gained 8.6%.

/zigman2/quotes/227230906/composite
US : U.S.: Nasdaq
$ 30.74
+1.66 +5.71%
Volume: 116,221
July 23, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.99 billion
Rev. per Employee
$20,256
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/zigman2/quotes/211348248/composite
US : U.S.: NYSE
$ 47.46
-0.11 -0.23%
Volume: 9.54M
July 23, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$89.13 billion
Rev. per Employee
$488,553
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/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 515.41
+3.64 +0.71%
Volume: 3.82M
July 23, 2021 4:00p
P/E Ratio
53.44
Dividend Yield
N/A
Market Cap
$228.12 billion
Rev. per Employee
$2.66M
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/zigman2/quotes/225893452/composite
US : U.S.: Nasdaq
$ 224.92
-1.16 -0.51%
Volume: 1.57M
July 23, 2021 4:00p
P/E Ratio
77.44
Dividend Yield
N/A
Market Cap
$47.30 billion
Rev. per Employee
$1.02M
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 63.14
-0.51 -0.80%
Volume: 124,151
July 23, 2021 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,411.79
+44.31 +1.01%
Volume: 1.78B
July 23, 2021 5:16p
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