# Docebo



## kelaa (Apr 5, 2016)

_Docebo_ means "I will teach" in Latin. This is an enterprise learning/course management company that is under IPO. I was a little intrigued because I've spent quite a few hours per year using my employer's course software (not provided by Docebo). As I was browsing the prospectus, I notice the liberal use of the term AI. At first I was excited, as everything AI is all the rage these days. But I can't quite dispel the feeling that companies shoehorn the term AI into their marketing just to appear to be high-tech.

Anyways, approximately 5 million shares are being offered, compared to an existing 28 million. At the IPO share price, this gives a pre-IPO market cap of approx 420 million. That for a company with trailing-12-months revenue of 33.5 million and net loss of 10 million. Too rich for me. I note that the principal shareholder is Intercap Equity Inc, which owned more than 60% of the pre-IPO equity.

It would be nice to spot a Shopify in its infancy, eh? Will 20% revenue growth make it eventually profitable? Best of luck to the company. I'll be watching from a business case-study point of view.


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