“Our market is very fragmented with lots of different, smaller players that are selling to the same set of customers, retail and restaurant SMEs,” Dasilva said.Ĭurrently, Lightspeed has 47,000 customers in 100 countries. It had an operating loss of $21.922 million.ĭasilva said he sees Lightspeed consolidating its market. Lightspeed had revenue of $57 million during its 2018 fiscal year, which ended on March 31, 2018. This was at a party to celebrate that the Montreal-based company that sells payment processing systems to small and medium-sized businesses went public on the Toronto Stock Exchange Friday. “So, rather than having a mindset of being an acquisition target, which is often the case of a VC-backed company, because VCs would like their return, we were able to graduate from the VCs, to long-term holders like the Caisse, and pursue this vision of being a public company.” Dax Dasilva (right) founder and CEO Lightspeed POS talks with company president JP Chauvet at the company’s offices in Montreal Friday, March 8, 2019. “We bought five companies, in the U.S., in Canada and in Europe, and we want to continue to do that and build the company globally,” Dasilva said. Now, instead of being acquired, Lightspeed plans to start doing more acquisitions as it looks to become a global brand. Dasilva remains in control, with the majority of voting shares. Montreal-based venture capital firm “iNovia, the Caisse de dépôt, Investissement Québec and myself are the biggest shareholders, so keeping the company independent and keeping it Canadian and headquartered in Montreal, being a tech anchor in this province, that was important to everybody that’s involved.”Īround one-fifth of the company was sold to investors through the IPO. “It’s rare that you are able to be in this position, we were lucky because we had long-term Canadian-based investors,” Dasilva said. Promising firms are often acquired by larger players before they get to the point where they can go public. IPOs are uncommon among Canadian venture-backed companies. Dasilva said the increased price was the result of “overwhelming demand.” Originally, the company had sought to raise $200 million through the share sale, with shares valued at between $13 and $15. The IPO raised more than $240 million for the company, which develops point-of-sale software for small and medium-sized retailers and restaurants. “We’ve been able to attract as many American investors as Canadian investors by going public, and also by going public in Canada.” Register for your free account today at .“A couple of years ago, people would have said, you’re not going to get American-level valuations, or interest, or volume on the Toronto Stock Exchange, and hopefully we’ll show that that’s just not true,” Dasilva said. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. ET of the following day.ĭata provided by Nasdaq Data Link, a premier source for financial, economic and alternative datasets. After Hours trades will be posted from 4:15 p.m.Pre-Market trade data will be posted from 4:15 a.m.will report pre-market and after hours trades. Investors who anticipate trading during these times are strongly advised to use limit orders. Stock prices may also move more quickly in this environment. Participation from Market Makers and ECNs is strictly voluntary and as a result, these sessions may offer less liquidity and inferior prices. ET) and the After Hours Market (4:00-8:00 p.m. Investors may trade in the Pre-Market (4:00-9:30 a.m.
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