IPO
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Pure Storage Prices IPO at $17
Enterprise storage company Pure Storage has raised $425 million after pricing its IPO on the NYSE at $17 per share, as originally reported by the Wall Street Journal. The company is trading under the ticker, “PSTG.” The Mountain View-based company competes with Dell, EMC, HP and others to provide flash storage products for businesses. Pure Storage warned in its filing that some… Read More
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Apigee Closes Its First Public Day Worth $16.68 Per Share, Down 1.9% From Its IPO Price
Apigee, a company that helps organizations build and manage API connectors, went public this morning at $17 per share, briefly jumping to $20 per share before closing at $16.68, down 1.88 percent in its first day of regular trading. After-hours, the company is flat.
The company sold 5,115,000 shares in its IPO, raising $87M according to its CEO Chet Kapoor. It trades under the symbol… Read More
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As Box IPO Surges, Startup Community Reacts
Box’s IPO was never a normal deal. When Wall Street cooled to tech IPOs last year, especially involving firms that are subscription-based with high customer acquisition costs, the Box offering became the canary in the Wall Street coal mine. The general consensus was that if Box succeeded, other firms could follow, allowing Silicon Valley and its attached investor class to breathe… Read More
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Box Has Always Been About Reshaping Enterprise Software
One of Box’s earliest marketing stunts was a series of billboards on California’s Route 101 in which it made no bones about going after enterprise content management (ECM) big shot, Microsoft SharePoint. While many would like to pigeonhole Box as storage or sync and share, Box has always had other ideas.
From the earliest days in its transition from a consumer to enterprise… Read More
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Here’s How Microsoft Described Its Newfangled Product Called “Windows” When It Went Public
Microsoft shipped the first version of Windows on November 20, 1985. The company went public on March 13, 1986. That means that Microsoft pulled the trigger on its IPO mere months after Windows was first launched into the market. Until today I didn’t know that the two events occurred so close together. Given that I was roughly negative 3 or 4 at the time, I’ve decided to… Read More
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Box Files Third-Quarter S-1 Update Amid Improving IPO Climate
Box filed its third quarter S-1 update today, almost nine months after they originally filed the document required for an initial public offering. This time the numbers look a bit better, but there were still enough negatives to continue to raise some red flags. Still, given the improving IPO climate in Silicon Valley, Box appears closer to finally pulling the IPO trigger. Read More
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Hortonworks Wastes No Time Setting Price For Its IPO
In a time where we have S-1 filings that sit for months, Hortonworks proves the exception. After filing its S-1 just last month, the company updated its S-1 today, setting its IPO price, filing a $78M IPO with 6M shares at a price range of $12-14 per share.
At the midpoint of the proposed range, Hortonworks would command a fully diluted market value of $659 million, Renaissance Capital… Read More
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Box COO Defends Company’s Spending, Calls It ‘Disciplined’
In a conversation last week at Web Summit in Dublin, Box COO Dan Levin talked to me about the shellacking the company received after it filed its S-1 last spring. Levin expected that dogs would come out, but he said he was still surprised by the vitriolic reaction the company received, especially around their spending. The response after the announcement was swift and brutal. People looked… Read More
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Why Is Box Taking So Long To Pull The IPO Trigger?
On March 24th, Box filed for its long-awaited IPO and went into the dreaded quiet period. It’s been over six months now since Box filed its S-1 form, signaling it would look for $250 million in its public offering. Prior to the announcement, Box was one of the hottest startups in technology, but after months of delay, with its IPO still sitting on the table, it is fair to wonder what… Read More
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After $25B IPO, US Cloud Infrastructure Players Best Pay Attention to Alibaba
Amazon Web Services better watch its back. And while we’re at it, let’s issue a warning to Microsoft and Google and just about any cloud service you can think of, because there is a new player in town and they have a lot going for them including being based in China and oh, getting a record-setting IPO last Friday that resulted in raising a whopping $25B. That kind of money gives… Read More
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