Coupa Software sets IPO targets below 2015's $1B unicorn valuation
Coupa Software hopes to ride the upswing in Bay Area IPOs to raise up to $123 million in an upcoming Wall Street debut.
But if it sells all of its intended shares to the public and underwriters, the offering could be an example of the "IPO as a down round."
That's because the San Mateo-based business expense management software company was reportedly valued at about $1 billion when it last raised funds in June 2015. Its market cap at the top of its price range set on Friday, however, would be about...