GreenSky opened its doors in 2006, offering credit to business customers like Stanley Tools and The Home Depot. Six years ago the company entered the home improvement market with quick and easy loans that remodelers could offer to consumers. Now the company is going public.
The terms for GreenSky’s initial public offering, or IPO, were set in May. The company is hoping to raise nearly $785 million for its initial offering, pricing shares (of which there are over 34 million available) between $21 and $23 apiece. The majority of ownership (i.e., 189.3 million shares) was already held at the end of 2017. Accounting for those outstanding shares, experts say GreenSky could garner a value of $4.35 billion on the public market.
Going public for GreenSky, a well-established fintech firm, most likely means the company is posturing for expansion—which makes sense, as it’s seen a growth spurt in recent years. From 2016 to 2017, GreenSky’s revenue jumped by $62 million, or 23 percent, to $326 million.
Add new comment
Related Stories
NARI Renames Awards Program
The awards program has a new name, but continues its tradition of recognizing the best in residential remodeling
Registration Open for Women in Residential+Commercial Construction Conference 2024
Join 300+ women in construction for three days of impactful idea-sharing and networking in Phoenix
Power Home Remodeling Expands Financing Offshoot with $400M from Goldman Sachs
Industry-leading home improvement company Power plans to grow its fintech offshoot fivefold with new investment
Great Day Improvements Acquires LeafGuard and Englert
Leading home improvement company Great Day Improvements purchases two major brands from private equity firm Audax
Metros with the Highest and Lowest Remodel ROI
First-time homebuyers can find fixer-upper listings priced between 5 to 10% lower than move-in ready homes. The high return on investment of these projects shows that remodeling remains a strong option to navigate the current housing market
Latest Private Equity Activity Signals Continued Strength in Home Improvement
A hot month for private equity means the industry remains opportunity-rich
Pro Remodeler Wins Two Prestigious Jesse H. Neal Awards
The editorial team was honored with one of B2B journalism's most prestigious awards in the categories of Best Subject-Related Package and Best Range of Work by a Single Author
Business Coach Cited in Attorney General Lawsuit Against Contractor
A New England contractor faces a civil suit alleging his company’s growth was tied to a business coach with a model that “encourages fraud"
Harvard Says Remodeling Spending Downturn to Slow
Could the drop in remodeling spending from post-COVID levels regulate soon?
Power Home Remodeling Now Offers Subsidized Childcare
The home improvement giant's move seeks to address a greater industry issue