California software startup Zendesk nearing IPO
Customer service platform Zendesk is inching a step closer to an initial public offering (IPO). The San Francisco-based firm is expected to make a formal announcement regarding the appointments today, according to Quartz.
The seven-year-old startup is poised to go public within this year. Based on a report published by The Wall Street Journal, Zendesk has sought the services of lead underwriters Morgan Stanley and Goldman Sachs to handle the transaction. So far, the software firm has not commented on its IPO plans. A company spokesman also declined to comment on the deal, the report detailed.
Zendesk was formed in Copenhagen, Denmark in 2007. The startup represents several companies such as Dropbox and Box Inc who want a remote way to market their business consumer software products. Zendesk uses email, phone calls, chat conversations, and even Twitter to provide online customer service to its clients, the report explained.
The software startup has already raised around $85 million in funding. The firm currently employs 400 workers in an office near Twitter's headquarters. Sources say 40,000 clients now use Zendesk's software worldwide, Quartz reported.