David Barrett, CEO of Expensify. Photo courtesy of Expensify.
Startups Markets

Expensify in Talks With SPACs About a Potential Merger

Photo: David Barrett, CEO of Expensify. Photo courtesy of Expensify.

Expensify, a startup that sells expense management software, has been in talks with special purpose acquisition companies about a possible merger to take it public, say two people familiar with the discussions. The 13-year-old software company is also considering a direct listing with an accompanying capital raising, said one of the people.

Its eventual decision could provide a road map for other medium-size tech companies that are debating how to offer shares to the public. Many startups of Expensify’s age have chosen to list shares via SPACs in the last year. A few, notably Asana and Slack, have tried direct listings, which list a company’s existing shares directly for resale in the public markets. But none have tried a direct listing that also raises money, an arrangement that the Securities and Exchange Commission only approved in December. Successful listings that make use of this option could become an alternative to SPACs for some tech companies this year, say bankers.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
The Briefing Media/Telecom
Dorsey Makes His Case to Wall Street: The Information’s Tech Briefing
Jack Dorsey. Photo by Bloomberg
It’s a good thing Jack Dorsey isn’t running for public office. Promising big changes when you’ve been in the job for more than five years tends to prompt skeptical questions. But in this case, investors seem to be willing to give Dorsey the benefit of the doubt. In what was a bit of a bloodbath on Wall Street today, Twitter was one of the few stocks going up after its big...
Latest Briefs
Former Kuaishou Executive Arrested for Alleged Corruption
Startup Otter.ai Raises $50 Million, Hires Chief Marketing Officer
VC Firm Bessemer Hires Amazon Veteran Jeff Blackburn
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Zoom CEO Eric Yuan. Photo by Bloomberg
Exclusive Microsoft Google
Zoom Executives Have Discussed an Expansion Into Contact Center Market
Zoom Video Communications’ pockets are full of cash after a $2 billion secondary offering of its shares last month.
Art by Mike Sullivan
Opinion Policy Google
Data Is the New Sand
The metaphors we use are like a map. They can guide us or lead us astray. When British mathematician Clive Humby said “ Data is the new oil ” back in 2006, he meant that data, like oil, must be refined and transformed to make it into useful products and services.
Katana's Kristjan Vilosius (from left to right), Priit Kaasik and Hannes Kert. Photo provided by Katana
Exclusive Venture Capital Startups
As Shopify Surges, So Are the Software Startups Riding Its Coattails
Shopify’s stock has more than quadrupled since shoppers began flocking at the start of the pandemic to the online stores of the smaller merchants Shopify serves.
Microsoft CEO Satya Nadella. Photo by Bloomberg
Exclusive Microsoft
Microsoft’s New Gig: A LinkedIn Freelancer Market Rivaling Upwork, Fiverr
LinkedIn is developing a new service called Marketplaces to let its 740 million users find and book freelancers, pitting it against publicly traded firms such as Upwork and Fiverr, according to two people with direct knowledge of the matter.
An image from the upcoming Disney movie 'Soul'. Photo courtesy of Disney
Data Reveals 40% of Disney+ Subscribers Are in the U.S.
Disney’s flagship video-streaming service, Disney+, has quickly emerged as the only true competitor to Netflix, signing up nearly 100 million subscribers globally after 15 months, about half as many as Netflix has accumulated after a decade.
Aviatrix CEO Steve Mullaney. Photo provided by Aviatrix
Exclusive Venture Capital Startups
Cloud Startup Aviatrix Raises Round at Valuation Over $700 Million
A startup that helps companies avoid networking foul-ups when they run applications in the cloud is grabbing attention from investors.