SendGrid debuts on New York Stock Exchange

sendgrid office

The reception desk in SendGrid’s Denver headquarters at 1801 California St. (SendGrid)

Since its inception in 2009, Denver-based SendGrid has processed more than 1 trillion emails, from Spotify promotions to Uber promo codes to Airbnb password resets.

Now, the company is taking things public.

After filing its S-1 with the SEC on Oct. 18, the email marketing firm will make its debut on the New York Stock Exchange on Wednesday when markets open at 7:30 a.m. Mountain Time.

The company will issue 7.7 million shares of common stock at $13.50 to $15.50 per share.

Founded in Boulder in 2009, SendGrid graduated from accelerator program TechStars that same year. It moved its headquarters to Denver in 2016, signing a seven-year lease on 52,000 square feet at 1801 California St.

SendGrid provides companies with email delivery, marketing campaigns and services, and its customers include Spotify, Glassdoor and Deloitte. In the first six months of this year, the startup processed 210 billion emails, according to SEC filings.

In 2016, SendGrid brought in $80 million in revenue, for a net loss of $4 million.

Boulder-based Foundry Group has an ownership stake of 30 percent, according to the S-1 filing. Morgan Stanley and J.P. Morgan are managing the IPO.

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