Cloudera Files For IPO Amid Resurgence In Stock Debuts

By Jeremy C. Owens Markets MarketWatch Pulse

Cloudera Inc. filed for an initial public offering Friday, as the data-crunching software company looks for a payoff on its $4.1 billion private valuation. The filing arrives amid a resurgence in IPOs from venture-backed tech companies, especially in the enterprise sector. Cloudera, founded in 2008, publicly filed its prospectus with the Securities and Exchange Commission on Friday with a stated target of raising $200 million, which is likely a placeholder figure that will be updated in later filings. The company said it lost $187.3 million on revenue of $261 million in its most recent fiscal year, which ended Jan. 31, an improvement from the previous fiscal year, when Cloudera lost $203.1 million on sales of $166 million. The company has raised $670 million in venture funding, according to The Wall Street Journal, receiving a $4.1 billion valuation in its most recent round, in 2014. Intel Corp. has been a frequent investor in the tech startup and owns 22% of the company ahead of the offering, according to the prospectus. Other investors with significant stakes are Accel, with 16.3%, and Greylock Partners, with 12.5%. Cloudera plans to list on the New York Stock Exchange under the ticker symbol CLDR, and listed Morgan Stanley, J.P. Morgan and Allen & Co. as lead underwriters.

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