David Zalik isn’t like many CEOs and that’s not a bad thing. You won’t find him speaking at conferences across the world. Instead, he spends his time serving as co-founder and CEO at GreenSky Credit. For nearly 10 years, this private company has not sought capital from outside investors. That being said, it appears that GreenSky Credit could soon be launching an IPO.
An IPO or initial public offering occurs when a company begins to sell company stock. The public is able to purchase shares of the company, giving them partial ownership. True to his nature, David Zalik isn’t trying to obtain attention from this situation. The Wall Street Journal even noted that the IPO was “filed confidentially.”
While an IPO is a great way for companies to increase funding, certain private businesses avoid going public. One reason for this is due to reporting concerns. After a private company goes public, they are required by law to issue quarterly and yearly financial reports. That being said, it doesn’t appear that financial reporting will be a problem for GreenSky Credit. This company reportedly received an initial IPO valuation of $5 billion.
GreenSky Credit focuses on combining technology with a great user experience. In turn, this enables businesses to better serve their customers by offering simple payment solutions. Considering that, many companies have successfully partnered with GreenSky Credit. This company has become one of the world’s largest financial tech companies. In fact, this company currently has over 12,000 active merchants and have funded over $12 billion in loans.
In closing, many within the investing world are learning that GreenSky Credit has filed for an IPO. However, the company does still have time to take back this offering. If this happens, the company would still remain private. Considering this company’s success, it’s likely many investors are eagerly waiting to buy up shares.