FB pixel

Clear IPO could raise up to $396M in hot biometrics investment market

Clear IPO could raise up to $396M in hot biometrics investment market
 

Clear intends to raise up to $396 million, at a valuation of $2.2 billion, through its proposed initial public offering on the New York Stock Exchange, the company says in a Form S1-A filed with the U.S. Securities and Exchange Commission (SEC).

Depending on whether plans for IPOs by Chinese facial recognition giants come to pass, Clear could easily be the biggest public trading launch of the year in the biometrics industry.

The company will list 13.2 million shares of Class A common stock, at a price of $27 to $30 each. The Class A shares will have one vote each per share, like Class C shares, while Clear’s Class B and D stocks are each allotted 20 votes per share.

Goldman Sachs, J.P. Morgan, Allen & Co and Wells Fargo Securities have been retained as lead underwriters, the filing states.

A Reuters article notes that Clear would be worth close to $2 billion based on a multiple of eight times 2020 revenue, a roughly equivalent ratio to McAfee, TripAdvisor, and Peloton Interactive.

Clear previously signaled its intention to raise more than $100 million with an IPO under the ticker symbol ‘YOU,’ and has since signed up the first customer for its digital health pass secured with biometrics.

A series of recent acquisitions and funding rounds have highlighted a broad market appetite for investment in biometrics and digital ID. A funding round just announced by Transmit Security gives it, like Clear, a valuation of $2.2 billion.

Article Topics

 |   |   |   |   |   |   | 

Latest Biometrics News

 

Facewatch, Met police face lawsuits after facial recognition misidentification

Biometric security company Facewatch, which provides facial recognition software to shops across the UK, is facing a lawsuit after its…

 

Call for bids on Dominican Republic biometric passport deal closes today

The Dominican Republic’s General Directorate of Passports (DGP) is seeking digital identity service providers to acquire, install and maintain new…

 

Who is looking out for your data? Security in an era of wide-spread breaches

By Vince Graziani, CEO, Idex Biometrics While some of the biggest businesses in the world now rely heavily on data, concern…

 

ITL’s Alerts App expands biometric portfolio to integrated venue management

Businesses from every sector all face access control challenges to ensure the security and safety of their staff and customers….

 

Best biometrics use cases become clearer as ecosystems mature

Biometrics are for digital identity, socio-economic development, air travel and remote identity verification, but not public surveillance, the most-read news…

 

UK Biometrics and Surveillance Camera Commissioner role survives as DPDI fails

UK parliament will not pass data protection legislation during the current session, following the announcement of the general election in…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events