Topgolf Targeting $4 Billion Valuation, IPO May Come In 2020

Gillian Tan, Scott Deveau and Kiel Porter all contribute to a tidy Bloomberg report on Topgolf’s long awaited march to an IPO, with banks selected and the all-important valuation targeted: $4 billion.

The Dallas-based company is working with banks including Morgan Stanley, JPMorgan Chase & Co. and Bank of America Corp., said the people, who asked to not be identified because the matter is private. Its IPO could come as soon as this year, they said.

Topgolf, led by Chief Executive Officer Dolf Berle, has $525 million in outstanding debt, according to data compiled by Bloomberg.

Given the incredible success of Topgolf, it should be interesting to see how much the state of the golf industry is characterized during the process, and after the official launch.