February 12, 2014
After months of rumors that Opower would go public, the DC-based energy efficiency company today filed confidential papers to launch an initial public offering (IPO) to see company stock. Opower is taking advantage of the new JOBS Act, which allows companies with less than $1 billion in revenue to have an IPO without releasing financial information.
Founded in 2007 by Alex Laskey and Daniel Yates, Opower contracts with utilities to help homeowners to save electricity. Specifically, the company provides energy conservation suggestions and sends reports and utility bills so homeowners can compare their energy use with that of similar homes.
If this IPO is successful, Opower will be able to scale quickly, offering a boost to the entire clean energy sector.
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