Gloo, Led by Ex-Intel CEO Gelsinger, Seeks $873.4 Million Valuation

Gloo Holdings, a technology company specializing in solutions for religious organizations, has filed for an initial public offering (IPO) seeking a valuation of up to $873.4 million. The company aims to raise a maximum of $109.2 million by offering 9.1 million shares at an anticipated price range of $10 to $12 per share. Gloo intends to list its common stock on the Nasdaq Stock Market under the ticker symbol "GLOO." The company, which provides technology tools primarily for Christian churches, has appointed Pat Gelsinger, former CEO of Intel and VMware, as its Head of Technology and Executive Chairman. In 2023, Gloo secured $110 million in growth funding to enhance its artificial intelligence (AI) capabilities, including the development of Bible-based chatbot technology. However, the company's financial results for the six months ending July 31 reflected a net loss attributable to common members/shareholders of $69.8 million.