AI-Driven Call Center Software Developer Genesys Files for US IPO
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Enterprise software maker Genesys confidentially files for US IPO
(Reuters) - Genesys, an AI-driven developer of call-center software, said on Monday it has confidentially filed for an initial public offering in the United States, signaling growing investor appetite for new listings after a prolonged dry spell. The move comes as the IPO market recovers with investors once again turning warmer towards tech startups that they had shunned for over two years due to concerns around lofty valuations. Analysts expect companies catering to the AI market will lead the charge for tech sector listings, amid heightened expectations of multi-fold growth over the next few years as corporates increasingly find more generative AI use cases. In December 2021, Genesys raised $580 million in a funding round led by Salesforce Ventures, valuing it at $21 billion. Genesys was acquired by private equity firm Permira Holdings from Alcatel-Lucent in 2012, valuing the company then at about $1.5 billion. (Reporting by Manya Saini in Bengaluru; Editing by Shailesh Kuber)
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Enterprise software maker Genesys confidentially files for US IPO
Oct 21 (Reuters) - Genesys, an AI-driven developer of call-center software, said on Monday it has confidentially filed for an initial public offering in the United States, signaling growing investor appetite for new listings after a prolonged dry spell. The move comes as the IPO market recovers with investors once again turning warmer towards tech startups that they had shunned for over two years due to concerns around lofty valuations. Advertisement · Scroll to continue Analysts expect companies catering to the AI market will lead the charge for tech sector listings, amid heightened expectations of multi-fold growth over the next few years as corporates increasingly find more generative AI use cases. In December 2021, Genesys raised $580 million in a funding round led by Salesforce Ventures, valuing it at $21 billion. Genesys was acquired by private equity firm Permira Holdings from Alcatel-Lucent in 2012, valuing the company then at about $1.5 billion. Reporting by Manya Saini in Bengaluru; Editing by Shailesh Kuber Our Standards: The Thomson Reuters Trust Principles., opens new tab
[3]
Enterprise Software Maker Genesys Confidentially Files for US IPO
(Reuters) - Genesys, an AI-driven developer of call-center software, said on Monday it has confidentially filed for an initial public offering in the United States, signaling growing investor appetite for new listings after a prolonged dry spell. The move comes as the IPO market recovers with investors once again turning warmer towards tech startups that they had shunned for over two years due to concerns around lofty valuations. Analysts expect companies catering to the AI market will lead the charge for tech sector listings, amid heightened expectations of multi-fold growth over the next few years as corporates increasingly find more generative AI use cases. In December 2021, Genesys raised $580 million in a funding round led by Salesforce Ventures, valuing it at $21 billion. Genesys was acquired by private equity firm Permira Holdings from Alcatel-Lucent in 2012, valuing the company then at about $1.5 billion. (Reporting by Manya Saini in Bengaluru; Editing by Shailesh Kuber)
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Genesys, an AI-powered call center software company, has confidentially filed for an IPO in the US, signaling a potential revival in the tech IPO market and growing interest in AI-focused companies.
Genesys Confidentially Files for US IPO
Genesys, a leading developer of AI-driven call center software, has confidentially filed for an initial public offering (IPO) in the United States. This move signals a potential revival in the tech IPO market, which has been experiencing a prolonged dry spell
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.Market Recovery and Investor Sentiment
The decision by Genesys to go public comes at a time when the IPO market is showing signs of recovery. Investors are once again warming up to tech startups after a period of skepticism lasting over two years. This shift in sentiment is largely attributed to concerns about inflated valuations that had previously deterred investors
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.AI-Focused Companies Leading the Charge
Analysts predict that companies specializing in artificial intelligence (AI) will spearhead the resurgence in tech sector listings. This expectation is fueled by projections of substantial growth in the AI market over the coming years, as businesses increasingly discover and implement generative AI use cases
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.Related Stories
Genesys: A Rising Star in AI-Driven Software
Genesys has established itself as a prominent player in the AI-driven enterprise software space, particularly in call center solutions. The company's journey to this point has been marked by significant milestones:
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In December 2021, Genesys raised an impressive $580 million in a funding round led by Salesforce Ventures. This investment valued the company at $21 billion, highlighting its rapid growth and market potential
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The company's roots trace back to 2012 when it was acquired by private equity firm Permira Holdings from Alcatel-Lucent. At the time of this acquisition, Genesys was valued at approximately $1.5 billion
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Implications for the Tech IPO Landscape
Genesys' decision to file for an IPO is seen as a bellwether for the broader tech industry. It suggests that investor appetite for new listings is growing, particularly for companies at the forefront of AI innovation. This move could potentially pave the way for other AI-focused firms to consider going public, further revitalizing the IPO market
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.As the details of Genesys' IPO remain confidential, market observers and potential investors eagerly await further information about this significant development in the AI and enterprise software sectors.
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