MiscellaneousNews

Corsair Files For $100 Million Initial Public Offering

by Winston0385

It’s about time … I’ve been waiting so long for it to happen. Now I can get some stocks on a company that I love 😀

Taken from TPU … Corsair Gaming was founded as Corsair Microsystems in 1994 originally selling cache modules before switching to DRAM after the incorporation of L2 cache in processors, since then Corsair has continued to expand its product lineup now offering a wide range of PC components and peripherals. In 2017 private equity firm EagleTree Capital acquired a majority stake of the company in a deal valued at $525 million. In recent years Corsair has been acquiring various gaming brands such as Elgato, ORIGIN PC, and SCUF Gaming, these acquisitions have likely left the company with significant loans to repay.

Corsair Gaming has recently filed an initial public offering with a target price of $100 million and will be treated as an emerging growth company. The company intends to list on the Nasdaq under the CRSR symbol. The IPO filing offers some insight into the financial position of Corsair however, many exact dollar values have been withheld in the public filing. Corsair Gaming has sold over 190 million products since 1998 with 85 million of those being sold in the last five years.

 

Corsair Gaming recorded revenue of $1.3 billion for 2020 with a gross margin of 24.2% and $31.3 million net income up from a loss of $26.7 million in 2019. The IPO lists some possible threats to the company including the reliance on Amazon who accounts for 26.8% of sales in 2020 and the dependence on just 10 customers who account for 52.4% of sales. Corsair also notes a target market of 524 million PC gamers of which 94 million spent over 1000 USD on their gaming PC systems.

corsair

The IPO doesn’t have an intended filling date and the $100 million listed in the offering may very well be a placeholder so we will likely see various changes in the coming weeks.

Source:  SEC

 

Related articles

 

Winston has over 25 years of experience in the I.T. Industry. He launched Funky Kit with the aim to capture a wider audience worldwide. His knowledge in PC hardware is very distinguished, not only publishing enjoyable reviews but also writing great articles.

Related posts

Origin PC Unveils the EON15-SL Gaming Laptop Bundle in Cherry Blossom

Winston

Corsair by d-Matrix Enables GPU-Free AI Inference

Winston

Thermaltake Launches The Tower 250 Mini Tower Chassis

Richard Aizlewood

Leave a Comment

Save my name, email, and website in this browser for the next time I comment.

* By using this form you agree with the storage and handling of your data by this website.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More