CrowdStrike sets terms for $378M Nasdaq IPO

[InfoSec News <alerts () infosecnews org>]

https://techcrunch.com/2019/05/29/crowdstrike-sets-terms-for-378m-nasdaq-ipo/

By Kate Clark
TechCrunch.com
May 29, 2019

CrowdStrike, in preparation for its Nasdaq initial public offering, has 
inked plans to sell 18 million shares at between $19 and $23 apiece. At a 
midpoint price, CrowdStrike will raise $378 million at a valuation north 
of $4 billion.

The company, which develops cloud-native endpoint protection software to 
prevent cyber breaches, has raised $480 million in venture capital funding 
to date from Warburg Pincus, which owns a 30.2% pre-IPO stake, Accel 
(20.2%) and CapitalG (11.1%), according to its IPO prospectus. The 
business was valued at $3.3 billion with a $200 million January 2018 
Series E funding.

Sunnyvale, Calif.-based CrowdStrike outlined its IPO plans two weeks ago. 
The company plans to trade under the ticker symbol “CRWD.”

The cybersecurity unicorn follows several other highly valued 
venture-backed startups to the public markets, including Uber, Lyft, 
Pinterest, PagerDuty and Zoom. CrowdStrike’s offering will represent only 
the second cybersecurity IPO in 2019, however. It follows Israel’s Tufin 
Software Technologies, which went public earlier this year. Last year, for 
its part, saw the IPOs of Zscaler, Carbon Black and Tenable.

[...]

--
Subscribe to InfoSec News
https://www.infosecnews.org/subscribe-to-infosec-news/
https://twitter.com/infosecnews_