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Braze (BRZE) surges 43% higher in Nasdaq debut

By William Hoffman

21:32, 17 November 2021

Braze logo
Braze debuts on the Nasdaq - Photo: Braze via SEC filing

Customer engagement software company Braze is trading up more than 43% in its Nasdaq debut on Wednesday.

The software-as-a-service company raised around $520m (£385.38m) by selling eight million shares at a price of $65 per share, which was above its target range of $55–$60 per share.

Upon its debut, shares immediately began trading at around $87 each. Throughout the day, the price shot even higher to close at $93.39 per share.

What does Braze do?

Braze works with brands to help them digest their customer data in a more “human-like” way that doesn’t keep customer data in silos, so that each channel is aware of activity occurring within the system, the company explains in its IPO prospectus.

The company already boasts a portfolio of 1,119 customers as of the end of July including Etsy, Dominos and HBO, up from 890 customers at the start of the year.


2,041.61 Price
+1.340% 1D Chg, %
Long position overnight fee -0.0192%
Short position overnight fee 0.0110%
Overnight fee time 22:00 (UTC)
Spread 0.30

Oil - Crude

76.95 Price
+2.450% 1D Chg, %
Long position overnight fee -0.0187%
Short position overnight fee -0.0032%
Overnight fee time 22:00 (UTC)
Spread 0.040


38,258.85 Price
+3.170% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00


16,010.50 Price
+0.310% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8

The platform enables interactions with 3.3 billion monthly active users on in-app channels or outside third-party communication platforms, up from 2.3 billion over the same seven-month period.

Financial outlook

Braze increased revenue by 53% year over year to $103.6 million for the six-month period ended 31 July up from $67.9m over the comparable period the year prior.

The company reported net losses of $25.8m for the six-month period this year up from $12.4m over the comparable period last year.

Cash flow was also in the negative as the company burned through $10.3m in the first half of the year up from a $3m cash burn in the first half of 2020.

Read more: Freshworks sets sights on Salesforce in IPO filing

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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