- Opower, an energy efficiency company, is planning an initial public offering of its shares in the next few months, according to anonymous sources who spoke to the Wall Street Journal.
- It is as yet unclear what Opower's valuation will be or how many shares it plans to offer. The company, which was founded in 2007, received $65 million in venture capital. Co-founder and CEO Dan Yates noted in 2010 that Opower had signed contracts worth over $30 million in revenue over their lifetime.
- Opower works with utilities to get residential customers to save energy. Opower has 90 utility partners and serves 22 million electricity consumers around the world.
It's not yet clear whether Opower's IPO is about raising capital for growth or about getting money back for investors. Opower is one of leading firms in the energy efficiency space today. Their approach is to turn big data into personalized reports that get consumers to conserve energy. Opower says there is an annual $2.2 billion opportunity for saving energy through behavior modification.
@davide_savenije Yep, saw that one coming. Long-term value may be as biggest gatekeeper of customer data in industry more than efficiency.— Scott Thomasson (@scotthomasson) November 6, 2013
@scotthomasson Good point. Efficiency will be valued far more in years to come as regulatory/business models change.— Davide Savenije (@davide_savenije) November 6, 2013