Angel Broking IPO
Angel Broking is a stock brokerage firm. The owners filed to go public one month ago, on January 27. Someone close to the company said the Angel Broking IPO is expected to bring in $200 million. That would bring the total value of the company up to $2 billion, say sources close to the company. Since Angel Broking is a private company, however, none of these figures have been made public.
They do, however, have to make public some information when they file for an upcoming IPO. Some of these disclosures are that Angel Broking isn’t actually profitable and doesn’t expect to be in 2021 either.
Also revealed in the filing for the Angel Broking IPO was that their revenues are from three sources:
1) businesses who pay to scan the registrants for potential employees,
2) advertising and
3) fees from premium Angel Broking accounts.
The revenue from premium accounts has been shrinking (53% since 2007) and the revenue from businesses paying to look for job candidates has increased.
Also disclosed at the filing was that there are around 90 million registered Angel Broking users. And that’s up from 55 million registered users the previous year. There are just under 1000 employees.
Angel Broking is a social networking site for people to find former classmates, co-workers, and potential job candidates.
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