EquipmentShare, a YC 2015 equipment rental company, went public and popped 33% on its first day, reaching an $8B valuation. The company combines physical equipment rental with digital technology and has achieved profitability at scale.
I do want to discuss public markets because we SAW equipment share IPO pop 33% $8 billion market cap growing 47% of 4 billion in revenue IPO markets open. We feeling great about this.
I think it's a good ipo. I think that again, it points to, I think it points to the need for scale, profitability and it's a very different IPO obviously just for Evan's background. Equipment Share is a kind of technology enabled equipment rental company for construction. So if you're a builder, a builder in pick any US city and you're doing a job and you need to rent diggers, conveyors, whatever else other equipment you need, these are the guys to go to a great story. 10 year story, real critical mass making money. It's inherently a physical business with a digital overlay. At the end of the day, there's nothing digital about a piece of construction equipment. It's a large yellow or green painted thing that digs up dirt and moves it around. So it's a grounded business. But they seem to have built kind of, you know, in large part using digital technology to become more efficient. They seem to build a pretty compelling business. So go teams. I think it's.
If you're, if you're at, if you're at billions in revenue, growing 40% in profitable right and out and outlier margins for your segment, then you can IPO in an effortless fashion. I view this as an effortless ipo, which was interesting. It was effortless. It's really oversubscribed. You, you just ipo, you trade up. There's no drama. This is.
What an IPO is supposed to be. And fun to see. It was a Y Combinator Company from i10, 2015. I would love to go back and look at everyone's notes as they sat through demo day 2015 and what they said about the equipment rental company from the heartland. Because those guys, why is he.
