The Motley Fool, via its author profile Beth McKenna, believes that a Carbon IPO could be nearing. The Silicon Valley-based 3D printing unicorn exploded onto the tech scene in 2015 and is best known for partnering with adidas to mass produce 3D printed midsoles for running shoes.
The Motley Fool is a financial analysis firm following the AM industry very closely. They timely forecasted the “3D printing bubble” of 2012-2013 (although they missed out on timely forecasting the bubble bursting) and generally have a very clear view of what goes on in the AM industry (at least as far as financial analysts go).
There are several reasons why The Motley Fool believes a Carbon IPO is drawing near. These start from the fact that Carbon relatively recently made some updates to its board and executive team of the type companies often make before going public. In addition, the overall good shape of the stock market is a key factor in the timing of IPOs. The S&P 500 has returned 13.7% in 2019 through May 24. Also, the 3D printing stock space has at least stabilized after taking a beating following the go-go years of 2012 and 2013. While 3D Systems stock is struggling, Stratasys stock is up 25.6% so far this year.
Late last year the company named its first chief marketing officer, Dara Treseder. She previously served as CMO for GE Ventures and GE Business Innovations. It also promoted Elisa de Martel to CFO and named Debbie Messemer, a recently retired KPMG partner, to its board of directors and as chair of its newly formed audit committee.
More recently Carbon further updated its leadership team including promotions and newly created positions, which are considered critical to setting the company up for continued growth and success. These included Craig Carlson promoted from Vice President of Engineering to Chief Technology Officer, Philip DeSimone, a Carbon Co-Founder and current Vice President of Business Development, promoted to the company’s first Chief Customer Officer, and Meg Nibbi, a current Vice President, promoted to VP, General Counsel.
While an IPO seems on the horizon, Carbon’s activity last month suggests it might not be immediate. In April, the company authorized the sale of $300 million in Series E shares. If Carbon raises the full amount, its valuation could reach up to $2.5 billion, according to a Pitch Book estimate. The company was valued at $1.7 billion after its Series D round in late 2017. Along with raising money from top venture capital firms, Carbon has received financial backing from the VC arms of corporate giants such as General Electric and Google parent Alphabet. In addition to adidas, its big-name partners include Ford, Johnson & Johnson, BMW, and UPS.
Beth McKenna’s article goes on to give additional – and very precise – explanations for Carbon’s current and expected future success. You can access the full article here.