If you think of Uber disastrous The IPO last week would prevent technology-backed technology companies from following public markets in 2019, you think.
Crowdstrike, And Silicon Valley's multi-billion dollar "Rhino Valley" has been offered for public subscription. The cloud-based cyber security platform, worth $ 3.3 billion in 2018, revealed the IPO bulletin Tuesday evening.
The company plans to trade on NASDAQ under the symbol "CRWD". According to the deposit, intend to collect an additional $ 100 million, through this figure is usually a deputy element. To date, Crowdstrike has raised $ 480 million in venture capital financing from Warburg Pincus, which holds 30.3% stake before the IPO, Accel (20.3%) and CapitalG (11.2%).
As we expect from these companies, Crowdstrike's financial statements raise some concern. While revenues are growing at an impressive rate from $ 53 million in 2017 to $ 119 million in 2018 to $ 250 million in the year ended 31 January 2019, their spending far outweighs their overall profits. Recently, the company achieved a total profit of $ 163 million on total operating expenses of about $ 300 million.
CrowdStrike is not yet profitable. Its total losses on an annualized basis increase from $ 91 million in 2017, $ 135 million in 2018 and $ 140 million in 2019.
The company's headquarters are located in Sunnyvale, and was established in 2011 by Chief Executive Officer George Kurtz, Chief Technology Officer Dmitry Alperovic, and former CEOs of McAfee. CrowdStrike, which develops security technology that looks at changes in user behavior on network-connected devices and uses that information to identify potential Internet threats, has reportedly considered the IPO for some time.
The company sells endpoint protection to enterprises on a subscription basis, competing with Cylance, Carbon Black and others. In the S-1, CrowdStrike presents an argument for its introduction on the basis of the rise of cloud computing and the growing threat of cybersecurity violations. The total market capitalization is estimated at $ 29.2 billion by 2021.
"We founded CrowdStrike in 2011 to reinvent security for the cloud era," the company wrote. "When we started the company, cyber attackers had a disproportionate advantage over existing security products." We turned the tables on liabilities through a new, substantial approach that enhances the network's impact from mass outsourced data applied to new technologies such as artificial intelligence or artificial intelligence and computing Cloud and graph databases. "