2oceansvibe News | South African and international news

Sponsored by RSAWeb rss
2ov Radio
  • Home
  • About
    • Terms and Conditions
    • Seth Rotherham
  • du Cap Collection
  • Café du Cap
  • Cabine du Cap
  • Media Packs / Advertising
  • Contact
    • Contact
    • Anonymous Tips
    • Twitter
    • Facebook
Seth Rotherham
  • SA CEO Making Waves In US As Share Price Soars

    21 Jul 2020 by Jasmine Stone in America, Business, South Africa
    Related Posts
    • Everything We Know About Jumo - The SA Company Most Likely To Become A Unicorn
    • Friday Morning Spice
    • WallStreetBets: How To Track Reddit’s Most Talked About Stocks
    • GameStop Investors Lose Fortunes As They ‘Hold’
    • Small-Time App Traders Troll Wall Street And Send Stock Soaring

    [imagesource: @ncino / Twitter]

    Pierre Naudé may not be a household name in South Africa, but his company is making headlines across the pond in the US.

    Yesterday saw Naudé’s global fintech company nCino debut on the Nasdaq stock exchange, and he’ll be chuffed with how things turned out.

    Moneyweb reports that it was one of the most successful listings of the year thus far. The share price started at $31 a pop, but quickly rose to more than $91, which would place the company’s value at close to $7 billion (around R116 billion).

    By the end of trading, the share price had settled around $70:

    ..Naudé did not want to comment on the success of the listing and the performance of the share price. “I was busy with a media interview when the first trades came through, and I heard the cheers from the staff. From a personal perspective, it was something very special.”

    Naudé hails from a wine farm near Worcester in the Boland. He joined Boland Bank where he met Johann Dreyer, a former Springbok athlete, who became his partner at several other ventures in the US.

    “I then realised America offered significant opportunities and in 1987 my wife, small baby and I relocated. I was a programmer, or a gun for hire, and travelled to where there was work.” The Naudés eventually settled in Iowa.

    Having launched nCino in a tiny office with seven employees, and the financial backing of a group of bankers in North Carolina, the company now employs 900 people in locations around the world.

    Naudé says he still visits South Africa regularly, and has family here, although his company does not yet have a presence in his home country:

     “We service South Africa from our London office and have built up good relationships, but we haven’t signed with a local bank. I expect that we will sign an agreement in due course, and I will be very proud if and when this happens,” he says.

    Investors are certainly impressed, with some trading sites listing nCino as an IPO to keep an eye on over the next few weeks and months.

    This from TMF:

    nCino is a software platform that helps typically IT-deprived small- and medium-sized banks and credit unions digitize their operations and replace and/or automate legacy processes. This kind of digital transformation is sweeping the business world, and shelter-in-place orders are making the typical in-person relationship smaller banks used to thrive on especially difficult.

    It’s no wonder then that nCino’s IPO was greeted with such gusto.

    Rather surprisingly for a fintech company, nCino has chosen not to head to Silicon Valley, and is still based in Wilmington, North Carolina.

    Naudé says the decision is based on the fact that staff turnover in Silicon Valley is too high, and North Carolina’s lifestyle still attracts a great deal of highly-qualified candidates.

    Sounds like he has it all figured out.

    [sources:moneyweb&tmf]

    • ← Amsterdam’s Red-Light District Will Look Very Different After The Pandemic
    • Mark Zuckerberg Ridiculed For These Sunscreen Photos →
    • Tweet
    • Tags:
    • fintech
    • nasdaq
    • nCino
    • new york stock exchange
    • nyse
    • Pierre Naudé
    • stock exchange

    Latest News

    • Gang Of 10 Hits KZN Jewellery Store In Broad Daylight [Video]

      [imagesource:here] A gang of 10 carrying guns broke the windows of a jewellery shop at ...

    • Thinking Of Veneers But Scared Of The Drill? There’s New Tech For That

      [imagesource: Dental Care] Now that wearing a face mask in public indoor spaces is no l...

    • Cape’s Infamous Great White-Killing Orcas Return Amid New Research

      [imagesource: Dave Hurwitz] Researchers have spent years documenting the gradual disapp...

    • It’s School Holidays – How Does Your Child Keep Busy?

      It’s the end of term and school is out! It’s time for a well-earned break, but how ...

    • Larry Ellison’s $160 Million Superyacht Was Inspired By A Famous Samurai

      [imagesource:here] Before we check out this samurai-inspired superyacht, who is Larry E...


    • 2oceansvibe Partners

    • CONTACT US
    • GOT A HOT STORY?
    • 2oceansvibe Radio
    • 2oceansvibe Media
    • Media Pack
    • Seth Rotherham
    • Café du Cap
    • Cabine du Cap
    • Cape Town City Accommodation
    • Terms & Conditions
    • Business
    • Media
    • Entertainment
    • Tech/Sci
    • World
    • Travel
    • Lifestyle
    • Sport
    • Politics
  • Follow

    2oceansvibe.com is part of the 2oceansVibe Media Group

    DMMA Logo