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How To Buy Sprinklr IPO Stock (CXM)

Sprinklr is a five-product SaaS platform that helps businesses monitor and connect with customers and prospects across social media, online review websites, and communication platforms. 

Let’s review their IPO date, a quick history, some of the pros and cons and finally the steps needed to buy their initial public offering of stock.

What Is Sprinklr IPO Date?

Sprinklr’s first public offering (IPO) is planned for Wednesday, June 23, when it will begin trading on the New York Stock Exchange under the ticker CXM. The business intends to sell 19 million shares at a price of $18 to $20 apiece, raising $361 million and valuing the company at $5 billion.

The company offers a unified customer experience software package to businesses all around the world.

Quick Sprinklr History 

Sprinklr is a SaaS customer experience management (CXM) platform developed by an American software firm located in New York City. Ragy Thomas, a technology professional, created Sprinklr in 2009, and it now employs over 1500 people. 

Sprinklr blends social media marketing, data management, interaction, customer service, and web analytics into one app. Ragy Thomas started the firm with his own money, running equipment directly from his house. 

Sprinklr bought Dachis Group in March 2014, gaining expertise in employee advocacy, lead generation, social business consultancy, and online advertising. With the launch of additional services for its Experience Cloud platform in April 2017, the firm moved beyond social media management to customer experience management, spanning from social listening tools to online advertising. 

Sprinklr Intuition, a set of artificial intelligence (AI) capabilities that launched in April 2018, allows for the autonomous collecting and examination of social network details. Sprinklr secured $200 million in September 2020 from private equity group Hellman & Friedman, valuing the customer experience management business worth at $2.7 billion.

Outlook for Sprinklr IPO

Sprinklr invests its capital in smaller companies that have features that Sprinklr wants to create. This company discards the purchased technology and has the acquired company’s workers build a native Sprinklr version of the product. 

When Sprinklr debuts on the public stock market this week, its valuation may reach $5 billion. In March, Sprinklr submitted a confidential IPO filing. 

The agreement includes fourteen investment banks. Lead underwriters include Morgan Stanley, JP Morgan, Citigroup, Barclays, and Wells Fargo Securities. Sprinklr earns capital by selling subscriptions to its cloud-based software platform, Unified CXM, as well as with their other additional services.

For the quarter ending April 30, revenue increased by 19 percent to over $111 million.

The Good and the Bad of Sprinklr IPO

Having stock or shares in a company provides a number of benefits. The following are some of the advantages and disadvantages of being a Sprinklr shareholder.

Pros of Owning Sprinklr Stock 

  • Sprinklr’s competitive edge is in having the flexibility to monitor everything and connect with consumers through a single omni-channel platform.
  • This organization uses artificial intelligence to operationalize your operations and employees and to get access to crucial data that leads to the development of actionable industry trends.
  • Many businesses are concentrating their efforts now on simplifying their social operations and centralizing their management processes.

Cons of Owning Sprinklr Stock 

  • While Sprinklr is widely regarded as a world leader in customer experience management (CXM), there are several other alternative platforms available to utilize and invest in.
  • Sprinklr is competing against industry heavyweights such as Adobe, Salesforce, Hootsuite, and Sprout Social.
  • Sprinklr found itself in trouble online in the week after its SEC filing, when a group of their workers was accused of harassing another social media professional through Twitter. After Sprinklr announced that the statements expressed were not reflective of the company’s values, the matter seemed to have been addressed.

Steps to Buy Sprinklr IPO

To buy the Sprinklr IPO, you must first establish a brokerage account, then a trading account, deposit funds, and then start buying shares.

Step 1: Select the Brokerage

To purchase Sprinklr shares, you must first select a brokerage. Remember to do your homework. Whether you choose high-risk trading or a more careful buy-and-hold strategy, your broker should mirror your investing goals.

Step 2: Open the Trading Account

You’ll need to open an account with the brokerage after you’ve decided which one is best for you. This account may be used to keep a record of all of the stocks in your portfolio.

Step 3: Deposit Funds Into the Account

You’ll be able to deposit funds to acquire Sprinklr shares once you’ve added a payment method to your account. The next step is to pick how many Sprinklr stock shares you want to purchase.

Step 4: Search for the Sprinklr Ticker Symbol (CXM)

A ticker symbol is significant on the stock exchange since it is used to identify each publicly listed stock. Sprinklr plans to go public on the New York Stock Exchange under the ticker symbol CXM.

Step 5: Purchase Sprinklr Ltd Stock

To purchase CXM shares, you must complete the following:

  1. Choose an action type.
  2. Fill in the amount of shares you’d like to purchase (or sell).
  3. Simply press the “buy” (or “sell”) button.

Should You Invest In Sprinklr IPO?

Sprinklr allows businesses to access all of their marketing and interaction platforms. They may then take any engagement data and comments and utilize it to generate totally personalized user marketing. 

Ragy Thomas, the company’s founder and CEO, has always been forthright about Sprinklr’s desire to go public, but he admitted that the Covid-19 had the potential to derail their ambitions. It aspires to be a service for companies wanting to increase paid social marketing, targeted marketing, user interfaces, and data segmentation. 

Sprinklr helps the world’s most well-known and beloved companies provide excellent services. They were able to develop quickly because of their strong go-to-market strategy, which attracted over 1,000 clients. Revenue for fiscal year 2021 was $386.9 million, up 19% from the previous year. Investing in Sprinklr could be an excellent opportunity that you don’t want to miss out on this week.

If you want to learn more about how to invest in initial public offerings, then you should think about talking to a financial advisor.