SmileDirectClub Has Filed An S-1 For An IPO

By Amit Chowdhry ● August 16, 2019
  • SmileDirectClub, a company that uses 3D printing for making and selling clear teeth aligners, has filed an S-1 to go public

SmileDirectClub — a company that uses 3D printing to sell clear teeth aligners — filed an S-1 with the US Securities and Exchange Commission to go public.

In the company’s most recent round of funding, it had a valuation of $3.2 billion. And according to the S-1, SmileDirectClub is seeking to raise $100 million. However, this amount could be subject to change.

ADVERTISEMENT

To get traditional braces or Invisalign-brand aligners, dentists charge thousands of dollars. SmileDirectClub charges $2,290 for its clear aligners. This makes the process of straightening teeth much more affordable.

Founded by Jordan Katzman and Alex Fenkell in 2014, SmileDirectClub will be listed on the Nasdaq exchange under the symbol “SDC.” Some of SmileDirectClub’s investors include Clayton, Dubilier & Rice; Spark Capital; and Kleiner Perkins.

ADVERTISEMENT

“The idea for SmileDirectClub was born 5 years ago by our founders Jordan and Alex, and our mission has been clear. . . Bring new smiles to the world through accessibility, convenience, and affordability! In just a few short years we have successfully served over 700,000 members and are in the early innings of rapidly scaling the SDC platform to serve our global demand. Being committed to the customer experience and laser-focused on achieving our goals through our ‘7 truths to Grin By’ will continue to drive our culture. Stay Curious, Better is Better, Think Like a Customer, Data Discussion Deliver, Inspired by Why, Dependability Increases our Capability, and Win as a Team. These core values drive us every day to continue to advance our mission and help our members. We are a competitive group of 5,000+ strong and there isn’t any other Team I would rather be in the fox hole with than the entire Team at SDC. Together we will continue working toward our goal of bringing access to a new smile to anyone on the planet who wants it,” wrote SmileDirectClub CEO and chairman David Katzman in a letter within the S-1. “We are now entering a phase of becoming a public company to help drive new investments and innovations so that we can continue to be better every day. This is a very exciting time in our young company’s history and a key milestone that will help keep the rocket ship soaring.”

 

ADVERTISEMENT