It started as a social network for farmers and now seeks to be a global player in bioinputs. It is Farmers Business Network Inc. (FBN), an online farm supply price comparison service, is now preparing to make an initial public offering (IPO) in the United States in the coming weeks, according to people familiar with the matter.
Read the article The social network that could become the largest bio-input research center on the planet
According to several media reports, the California-based company, valued at about $4 billion in a private funding round last year, is also close to signing up IPO underwriters, the sources said.
The company aims to double its valuation to about $8 billion, possibly more, by the time of its IPO, they added.
The sources, who requested anonymity to discuss confidential preparations, cautioned that the timing, size and terms of the IPO were subject to market conditions.
FBN declined to comment. In an interview with Reuters last year after FBN's most recent fundraising, CEO and co-founder Amol Deshpande had said the company could go public in 2022, but had not finalized any plans.
FBN se fundó en 2014 como un mercado online en el que los agricultores pueden acceder a datos sobre su sector y mejorar la calidad de sus cosechas. La plataforma también ayuda a los agricultores a fijar precios justos para sus cosechas.
La empresa cuenta con el apoyo de Fidelity Management & Research Company, Kleiner Perkins, BlackRock, GV (antes Google Ventures), ADM Ventures, Temasek y T. Rowe Price.
