Samsara goes public at $11B to expand the “Internet of Things”
![Spotted by IoT: Why’s Bill stopping at Popeyes? [shotbydave/E+ via Getty Images]](https://cdn.robinhood.com/static_content/mwphzyq69oso/en-US/assets/files/5fAXsTSTOX4ULXTXBMFckm_1_GettyImages-168626569.jpg)
Tracking your avo delivery… and your semi. The Internet of Things (IoT) is a connected system that distributes real-time data across devices. Think: Apple Watch sending your heart rate to an iPhone app, or Alexa ordering you groceries. Less consumer-y, but very IoT: Samsara sells dash cams and GPS trackers that companies stick on trucks, containers, and manufacturing equipment to give them an all-in-one view of their supply chain. Yesterday:
- Samsara went public on the NYSE under ticker “IOT.” Shares jumped 7% from its IPO price, giving Samsara a $11B+ market cap — more than double its valuation last year.
- By targeting less tech-savvy industries (think: farming), Samsara tripled its revenue from 2020 to $114M last quarter. Buuut: It lost $100M+ in the first nine months of 2021.
54-day LA port backup… Supply delays and shortages have disrupted the global economy. Manufacturing, transportation, and farming are the backbone of global supply chains, but many companies in those industries have yet to “tech-ify” operations. Now IoT companies like Samsara are helping them streamline to take advantage of a growing opportunity:
- 40% = The amount of global GDP generated last year by key industries like transportation, construction, and manufacturing.
- By 2024, the number of connected IoT assets (like: machinery, vehicles, warehouses, and factories) is expected to reach 39B.
If cloud is oil, IoT is the refinery… Cloud computing is the oil that greases the digital economy, and IoT could be the refinery that turns it into premium fuel — by translating physical objects into digital data. Big retailers like Walmart already use IoT to monitor freezer aisles and troubleshoot mechanical issues before they start. Samsara's tracking tech has helped companies avoid driving accidents, and even reduce carbon emissions.