Email Startup SendGrid’s $131 Million Initial Public Offering


Cooley advised digital communication platform SendGrid on its $131.2 million initial public offering of 8.2 million shares of common stock. The underwriters have an option to purchase additional shares.

Michael Platt (Picture), partner in charge of Cooley’s Colorado office, led the team advising SendGrid.

Morgan Stanley & Co. and J.P. Morgan Securities acted as joint book-running managers for the offering. William Blair & Company, KeyBanc Capital Markets, Piper Jaffray & Co. and Stifel, Nicolaus & Co. acted as co-managers for the offering.

Founded in 2009 after graduating from the TechStars program, SendGrid developed an industry-disrupting, cloud-based email service to solve the challenges of reliably delivering emails on behalf of growing companies. SendGrid was born from the frustration of three engineers whose application emails didn’t get delivered, so they built an app for email deliverability. The company will trade on the New York Stock Exchange under the symbol “SEND.”

Involved fees earner: Michael Platt – Cooley LLP; Eric Jensen – Cooley LLP; Matthew Dubofsky – Cooley LLP; Ben Carver – Cooley LLP; Carlyn Williams – Cooley LLP; Danielle Wheeler – Cooley LLP; Nathan Jeffries – Cooley LLP; Paula Holland – Cooley LLP; Joshua Friedman – Cooley LLP; Mary Maher Lewis – Cooley LLP;

Law Firms: Cooley LLP;

Clients: SendGrid Inc.;

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Author: Ambrogio Visconti