Anaplan files for U.S. IPO with ex-Tesla exec as finance chief

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Business-planning software company Anaplan Inc. has filed for a U.S. initial public offering, days after hiring Tesla Inc.’s former chief accounting officer.

The company filed with an initial offering size of $100 million, which is a placeholder amount that is likely to change, according to a filing with the Securities and Exchange Commission Friday. The company, which plans to apply under the symbol “PLAN,” has not yet named an exchange for the listing, the filing shows.

One of the executives who’ll play a key role in pitching the stock to public market investors joined the company this month. Anaplan’s chief financial officer, Dave Morton, was hired this month after his headline-generating exit from Tesla Inc., the latest in a chain of departures from the electric carmaker.

Anaplan competes against companies such as Oracle and SAP, as well as Adaptive Insights Inc. That company was acquired by Workday Inc. within days of its own expected IPO.

Anaplan had a net loss of $47 million in six months ended July 31, on total revenue of $109 million, according to its filing. In the year-ended Jan. 31, the company saw a net loss of $48 million on revenue of $168 million.

Goldman Sachs Group Inc. and Morgan Stanley are leading the offering.

Bloomberg News
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