Yodlee IPO Debuts With a Solid Showing on the Nasdaq Market

Yodlee powers the innovators in digital financial services, including nine of the top 15 largest financial institutions and Internet innovators like PayPal, CEO Anil Arora explains to TheStreet’s Jill Malandrino. The company provides cloud-based only solutions and in the 15 years Yodlee has been in business, it has never had a security issue, which has been a hot topic with cloud services recently. Yodlee revenue grew 28% in 2013 and Arora expects continued growth. 85% of revenue is derived from a subscription-based model, with 16.8 million users to date, making Yodlee one of the largest cloud-based platforms around the world. Everyone with a financial account could potentially be a Yodlee user and Arora believes that is the growth driver with a potential of hundreds of millions of customers on the platform. While Yodlee was successful as a private company, strengthening the balance sheet, as well as some other secondary benefits, motivated the company to go public on the Nasdaq market.