Bill.com: Introducing the Latest Payments IPO
Bill.com (NYSE: BILL) is already a standout stock. After the IPO season in 2019 produced several duds, cloud software company Bill.com was able to surge more than 60% by the end of its first day of trading on Dec. 12. Why are investors scrambling to invest in this freshly public stock?
Founded in 2006 by Rene Lacerte, Bill.com provides enterprise software that helps small and medium-sized businesses across all industries manage customer payments. Its mission is to eliminate inefficiencies in the payment process, such as the need to manually process checks. In its IPO prospectus, the company notes that more than 90% of small and medium-sized businesses still rely on paper checks to make and receive payments. Bill.com's software can streamline these processes, and make it easy for businesses to accept payments from major banks and card companies in a wide variety of forms.
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Source Fool.com
