Grammarly was founded in 2009 by Alex Shevchenko, Dmytro Lider, and Max Lytvyn. Following a 2021 round of venture capital funding, CEO Brad Hoover told Reuters that the company has no immediate plans to go public.
Grammarly is a writing tool that uses machine learning to offer suggestions on spelling, grammar, tone, and more. Along with its consumer services, the company has launched products aimed specifically at businesses. Grammarly entered into a strategic partnership with Samsung in 2021. The company has raised more than $400 million in venture capital funding from investors such as Baillie Gifford, BlackRock, IVP, and General Catalyst. Following a $200 million raise in 2021, the company was valued at $13 billion.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
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The stock price for Grammarly will be known as it becomes public. Here are similar public companies: Dropbox (NAS: DBX), Okta (NAS: OKTA), VMware (NYS: VMW), Workday (NAS: WDAY), Atlassian (NAS: TEAM).
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Grammarly is a private company and not publicly traded.
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