One of the world’s biggest auto data companies is about to make history with its $800 million IPO. Wejo is set to become the first of its kind in the industry to go public, and this move could potentially revolutionize the automotive sector as we know it. In this article, we’ll take a closer look at Wejo, their journey so far and what their future holds.
Introduction to Wejo
Wejo is a data-driven mobility company that is changing the way people move around cities. The company has raised $ million in funding to date and is now preparing for an IPO. Wejo’s technology is used by major automakers including BMW, Jaguar Land Rover, and Volkswagen Group. Wejo has also partnered with cities like London and Manchester to help them manage traffic and improve air quality.
Details of the Upcoming IPO
Wejo, the digital car data company, is set to make history with a $1.3 billion IPO. The company will begin trading on the New York Stock Exchange on May 18 under the ticker “WJO.” Here’s what you need to know about Wejo and its upcoming IPO.
Wejo was founded in 2013 by Richard Barlow and Andrew Dyson. The company collects and sells data from connected cars. Wejo has signed deals with major automakers, including BMW, Jaguar Land Rover, Porsche, and Volkswagen Group. Wejo is headquartered in London but also has offices in Detroit, Munich, and Palo Alto.
Wejo plans to use the proceeds from its IPO to expand its business and for general corporate purposes. Wejo has applied to list on the New York Stock Exchange under the symbol “WJO.” The offering is expected to price between $24 and $26 per share.
This will be Wejo’s first time selling shares to the public. The company had previously raised $125 million from investors such as Honda Motor Company, Accel Partners, JPMorgan Chase & Co., Franklin Templeton Investments, and AllianceBernstein Holding LP.
How Does Wejo Make Money?
Wejo will make money by providing data to insurance companies. The data will be used to help insurers assess risk and set premiums. Wejo will also sell data to other businesses, such as vehicle manufacturers and fleet operators, who can use it to improve their products and services.
Wejo has already signed deals with some of the world’s largest insurance companies, including Allstate, Progressive, and State Farm. The company is also in talks with several major automakers. Wejo plans to use the money from its IPO to expand its sales and marketing efforts and to build out its technology platform.