Good filing, Bad filing in Construction Tech
Procore, a leading project management software company, initially tried to go public (on the stock market) just when Covid hit. With things opening up again, Procore recently filed again with its Initial Public Offering (IPO) valuing the company around $8.5 Billion!
--Construction Dive
Katerra, (the high-tech, vertically integrated design/supply/construction firm) filed for Chapter 11 bankruptcy protection on June 7. Founded just six years ago, Katerra acquired companies and grew quickly to have 6,400 employees and $1.75 Billion in revenue. Despite it's vertical integration, Katerra wasn't immune from pandemic-related supply chain issues (one of the stated factors for it's cash flow problems).
--Engineering News-Record
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