Care.com, a website that acts as a portal for service providers like babysitters and pet sitters to find clients, had its IPO today. (Think of Care.com as the “Amazon of caregiving services.”)
It was a big day too. Care.com priced its shares at $US17 when trading started. It popped and was up 30% or more most of the day. The stock closed up 42.9% at $US24.30 per share.
Now that Care.com is public, it plans to expand and acquire other similar sites, the company’s CEO Sheila Marcelo told Business Insider in an interview.
“Going public allows us to acquire companies,” Marcelo said. “We’ve already acquired four in this fragmented space.”
Care.com has 9.7 million registered users. About 4 million of those are caregivers and the rest are families. Marcelo said a large portion of the site’s users are women (95% of caregivers and 85% of registered family members) who helped the site grow through word of mouth. The site gets about 2.9 million unique visitors per month, according to ComScore.