David Barrett
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Expensify is planning to become a public company as early as next summer, its CEO confirmed to Business Insider.
The company wants to do a direct listing, rather than a traditional initial public offering, even if that means it cannot raise money when its shares start trading.
Expensify doesn't need additional capital, its CEO said, because it's been profitable for years. He said the listing would be intended to allow its employees and investors to cash out their shares.
Expensify, a unicorn startup that sells software for tracking business expenses, is weighing an entry into the public market as early as next summer and leaning toward a direct stock listing rather than a traditional initial public offering, its chief executive confirmed to Business Insider.