Rippling Stock: Will There be an IPO This Year?
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Explore potential ways to own Rippling stock before the IPO date. Linqto removes barriers to private markets and gives you access to invest in pre-IPO companies. Rippling is recently available on the platform.
Table of Contents
Recent Rippling News
09/23/2024: Why Startups Are Choosing New Products Over IPOs
06/07/2024: Rippling bans former employees from tender
04/16/2024: Rippling in Funding Talks at $13+ Billion Valuation
02/14/2024: Parker Conrad why he’s sitting on $750 million
Older news…
About Rippling
Rippling is a cloud software-as-a-service (SaaS) human resources (HR) company that provides management services for employee payroll, benefits, expenses, and more in a centralized platform. It also provides IT support for device and application management and financial management.
The founder is Parker Conrad, who previously founded Zenefits, a similar company that came under regulatory scrutiny in 2016. Conrad resigned in 2016 for inadequate compliance controls, primarily for using unlicensed brokers to sell health insurance.
Conrad quickly started his next company, Rippling, which attracted venture capital funding from multiple high-profile firms.
Rippling has quickly grown to a multi-billion dollar valuation.
The HR SaaS space is crowded with legacy companies such as SAP leading the pack and Rippling competitors Gusto, Justworks, and Ramp, providing similar services on modern enterprise IT platforms.
Rippling’s headquarters are in San Francisco, CA.
Here’s the video product demonstration by Parker Conrad that helped land the Series C round:
Is Rippling Publicly Traded?
No. Rippling is a private company.
Who Owns Rippling?
Rippling is a venture-backed startup owned by Conrad, employees, and venture capital firms.
Rippling has raised nearly $1.2 billion in venture capital funding. The latest round was a Series E completed in March 2023. The total Series E funding round raised $500 million, largely due to the Silicon Valley Bank failure.
The raise was precautionary and ended up being unnecessary. The company completed the deal nonetheless.
Prominent venture capital investors include Sequoia Capital Global Equities, Global Growth, Greenoaks, Kleiner Perkins, Founders Fund, Initialized, Y Combinator, Bedrock Capital, and Coatue.
What is the Rippling Valuation?
The latest confirmed Rippling valuation is $11.25 billion based on the Series E funding round completed in March 2023. This was the same valuation as the round completed in 2022.
Private market transaction data via Hiive and other pre-IPO marketplaces suggest the valuation has retreated about 25% from it’s last round as of Q1 2024. However, a Bloomberg report from April 2024 suggests Rippling aims to raise new funds at a more than $13 billion valuation.
When is the Rippling IPO Date?
The Rippling IPO date has yet to be determined. The company has not yet filed publicly for an IPO.
A Rippling IPO date is possible when broader IPO market sentiment improves.
However, the emergency $500 million funding round due to the SVP bank failure significantly boosted cash on hand. The company will unlikely need to raise new funds in the next year or two.
We’ll get clues about the potential Rippling IPO date when we learn about the hiring of an underwriter, an S-1 filing is submitted, or reporting discloses a date range.
What is the Rippling Stock Price?
A public Rippling stock price doesn’t trade yet. It’s a private company.
Private market transaction data via Hiive and other pre-IPO marketplaces indicate shares have traded hands at around $30 per share in early 2024.
What is the Rippling Stock Symbol? Rippling Ticker?
We’ll learn about the Rippling stock symbol once Rippling officially files for an IPO via Form S-1 with the SEC.
We can speculate a little about what the Rippling ticker will be.
Here are some suggestions which seem likely and are available in the U.S.:
- RIPP
- RPP
- RPLG
How to Invest in The Rippling IPO
Most investors will not be able to own Rippling stock via pre-IPO investing platforms because they require the investor to be accredited.
When the Rippling IPO date arrives, it will still be difficult for most investors to acquire IPO shares.
The most likely way investors will be able to own Rippling stock is to wait for the IPO and buy shares after it goes public. There may be other opportunities to own the stock before the IPO.
Here are some potential options to own Rippling stock before, during, and after the IPO.
1. Access Rippling Stock via Pre-IPO Investing Platforms
Rippling stock has been available on pre-IPO investing platforms at various times over the past year.
Availability occurs when shareholders want to liquidate some of their shares before the public offering.
Retail investors must be accredited to be eligible to buy direct pre-IPO equity.
Second, investors must be registered on pre-IPO investing platforms to receive notifications when shares become available.
For share availability, investors can watch pre-IPO investing platforms such as Linqto (recently available), Forge Global, Forge Global, EquityZen, and Hiive.
If shares become available, plan to pay a $10,000 investment minimum. Signing up is free. You’ll get deal alerts by being a member.
Joining pre-IPO investing platforms is free. But each deal may have a minimum investment amount, varying by the deal.
Non-accredited investors can own pre-IPO companies via venture capital funds targeted to retail investors. Venture capital funds are a new asset class that emerged in 2022.
The Fundrise Innovation Fund and Cathie Wood’s ARK Venture Fund (review) are the primary options for non-accredited investors as of early 2023.
However, investors cannot buy individual startup shares and Rippling stock is not a current holding.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
2. Buy Rippling during the Rippling IPO through a participating broker
Retail IPO investors may have an opportunity to invest during the initial public offering through a participating online broker. Investors may be able to acquire shares at the IPO price before the company begins trading.
Online brokers, including the ones listed below, give customers free access to IPOs, even with low account balances.
Brokers often negotiate exclusive access to IPO shares. The chances of accessing specific high-demand IPOs are limited by how many brokerage accounts you have.
TradeStation has a more established track record of accessing more than 360 IPOs and secondary offerings via its partnership with ClickIPO.
Robinhood has a location advantage, being immersed in Silicon Valley venture capital networks.
Monitor our list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy Rippling stock after the Rippling IPO
While waiting until after the IPO requires patience, it may offer benefits compared to owning the stock during the IPO.
Public companies provide access to more established financials after the initial trading quarter, unlike pre-IPO investing with limited financial information.
High-demand companies typically experience rising IPO stock prices, but valuations can become exaggerated.
Holding overvalued IPO stocks in 2022 led to negative investor returns. For instance, Rivian and Robinhood were soaring IPO stocks in 2021, but within six months, they plummeted over 80% from their peak prices.
These post-IPO stock price declines can present excellent opportunities to invest in disruptive companies for the long term.
It’s advisable to avoid purchasing overvalued shares immediately after the IPO since prices often drop due to lockup expirations and disappointing quarterly earnings. However, the most disruptive companies tend to appreciate over a decade, emphasizing the importance of patience.
Where is the Rippling IPO S-1 Filing?
The Rippling S-1 filing has not been released to the public, and there is no indication of a confidential filing. The document will become available if the company submits it to the SEC and the regulatory commission approves and releases it to the public.
We’ll post a copy of the S-1 filing on this page when it becomes available.
You can monitor the most recent S-1 IPO filings on this website.
Rippling News Archive
11/09/2023: Deel Hits $400 million ARR, Rippling Rivalry Grows
04/02/2023: Rippling needed $545 million for paychecks when SVB collapsed
03/17/2023: Rippling raises $500M in Series E financing
05/11/2022: Rippling raises $250M in Series D funding
10/21/2021: Parker Conrad’s Rippling is now valued at $6.5 billion
08/04/2020: Rippling nabs $145M at a $1.35B valuation
04/03/2019: Rippling raises $45M at $270M valuation
Conclusion
Investors get excited when they identify companies riding extraordinary macroeconomic trends. Cloud SaaS companies like Rippling and Carta get a lot of attention because they are disruptive to legacy providers that have failed to innovate.
Pre-IPO investing platforms have opened more opportunities. But private equity investing is still primarily reserved for the ultra-wealthy, requiring millions to invest in seed and early funding rounds for disruptive companies.
Cautious retail investors may find access to shares before or during the IPO, which can lead to positive gains. But beware of overvalued IPOs.
If you decide to pursue IPO shares and early equity in Rippling, maintain reasonable expectations. Acquiring pre-IPO will be challenging. But if the Rippling IPO is on your watch list, good luck. Invest in pre-IPO and IPO companies with caution.
Read more: HR SaaS Startups
* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long the Fundrise Innovation Fund, ARK Venture Fund, and HOOD.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
