Cloudflare (NYSE: NET), an internet security and performance company, made its debut on the public market.
Listed on the New York Stock Exchange, Cloudflare kicked off trading at $15 per share, which values it at approx. $4.4 billion.
The joint lead bookrunners in the offering are Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, & J.P. Morgan Securities LLC.
Launched in 2010, Cloudflare provides a global cloud platform that delivers a broad range of network services to businesses of all sizes and in all geographies—making them more secure, enhancing the performance of their business-critical applications, and eliminating the cost and complexity of managing individual network hardware. The platform serves as a unified control plane to deliver security, performance, and reliability across on-premise, hybrid, cloud, and software-as-a-service (SaaS) applications. Today, there are 20 million internet properties on Cloudflare’s network, which spans 194 cities across more than 90 countries and interconnects with over 8,000 networks globally, including major ISPs, cloud services, and enterprises.
The company has 1,069 employees in 12 offices in San Francisco, CA, San Jose, CA, Austin, TX, Champaign, IL, New York, NY, Washington, D.C., Lisbon, London, Munich, Singapore, Sydney, Beijing.
It has 2 million customers and nearly 75,000 paying customers
Investors included Franklin Templeton, New Enterprise Associates, Union Square Ventures, Venrock, Pelion Venture Partners, Greenspring Associates, CapitalG (Google Capital), Microsoft, Baidu, Qualcomm, and Fidelity.