SmileDirect catapulted itself from dental startup to IPO on strong data
SmileDirectClub ($SMILEDIRECTCLUB) investors have a lot of reasons to grin right now.
The Tennessee-based startup is heading for public markets, filing an IPO on Friday August 16, in which it revealed that it is making nearly $800 million just five years after launching.
First up is SmileDirect's Facebook ($NASDAQ:FB) Talking About Count - which reflects growing engagement with the brand on social media. But the company is also building out its physical footprint, more than doubling store count within the last 12 months.
The "Smile Shops" are critical - this is where people can be "scanned" before being fitted for orthdontic wear that aims to correct mis-aligned teeth in a fraction of the time it otherwise would with braces.
From our next chart, we can tell that SmileDirectClub has been growing its footprint coast-to-coast. Our data can be used to map both locations, and growth over time. According to its IPO filing, SmileDirectClub has "licensed orthodontists and general dentists in all 50 U.S. states, Puerto Rico, Canada, Australia, and the U.K."
Further, it has established partnerships with companies like CVS, Walgreen and Aetna - among others.
Less than 12 months ago, SmileDirectClub helped itself to a $3.2 billion valuation and nearly $400 million in investment capital from private equity backer Clayton, Dubilier & Rice, and venture firm Spark Capital, among others.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.