Monday, May 27

US Based Startup Cloudflare to Launch a $3.5 billion IPO

US startup Cloudflare whose software makes websites load faster and with greater security is planning to launch its initial public offering (IPO) that could value it at more than $3.5 billion.

The company is expecting to go public in the first half of next year, joining a string of software and internet firms seeking to tap the stock market and capitalize on strong investor appetite and rich valuations.

The IPO will be led by investment bank Goldman Sachs, however, the exact timing of the IPO has not been finalized.

Founded in 2009 by Lee Holloway, Matthew Prince, and Michelle Zatlyn, Cloudflare as of now, has raised a total of $182.1 million. Cloudflare’s services help websites load faster and prevent security breaches. The company claims to have more than 154 data centers and serves more than 10 million domains.

Also, it claims that “the average Internet users touch us more than 500 times” each week. It also protects against cyber attacks, among other services. It counts companies such as Zendesk and Cisco as its clients.