The Expert Podcast

Although last year the ipo was delayed because of some things happening in the market the procore ipo finally was released and procore is a very unique set of software platforms that builders can use to connect with subs materials contractors and suppliers and other parts of the construction job it helps layer the different tasks in a construction job and help a contractor or builder put those all together the ipo came out at um 67 bucks many billions of dollars it'll trade under the checker pk pcor.

9 billion approximately is the value one of the things that held up the original ipo was the fact that the market was still a little bit in flux last year but now that it's obvious that the general contracting industry has high demand and one of the holdups is the efficiency of the build where you have lumber prices have gone up construction or labor costs have gone up and even materials and appliances that go into a house the costs have gone up this efficiency software can help a builder reduce some of the overall cost of a job through overhead to offset some of those.

In reality with the costs of the materials and labor as high as it is in order for a builder really to be successful they're probably going to need to have this type of resource in order to make sure they're competitive in the marketplace and if they don't have something that helps them become efficient they're going to be at a huge disadvantage to other builders or contractors that do have these types of efficiency tools at their disposal so they can win bids and successfully complete jobs where other builders might be struggling because they might have a 10 or 15 percent disadvantage because of their overhead costs are too high not having the layering of the tasks that go into completing the job.