Ellie Mae Inc

A mortgage application software company, Ellie Mae, Inc., was founded in 1997 and incorporated in 2009. Located in California, the company controls roughly 35% of the US mortgage application market. The company was started by Limin Hu and Sigmund Anderman who use the software as a service (SaaS) model to plan and streamline their services that include facilitating regulatory compliance and funding new mortgage loans. Ellie Mae has been active on the acquisition scene, purchasing Del Mar DataTrac and Mortgage Pricing Systems in 2011, and MortgageCEO in 2014, just to name a few. Ellie Mae has been listed on the New York Stock Exchange as ELLI since 2011. Company shares were valued at $6 each, with 7.5 million shares available. Ellie Mae was able to raise $45 million as a result. The private equity investment firm, Thoma Bravo, LLC, purchased Ellie Mae in 2019. The Thoma Bravo takeover was valued at $99 per share, totalling $3.7 billion. These numbers surprised Wall Street analysts, especially with the value per share being 47% higher than the stock’s 30-day average. Find out if ELLI stock is right for you by visiting the trading platform.