Mar 31, 2017 - Economy & Business

Cloudera files for IPO

Cloudera, a Silicon Valley-based provider of enterprise big data software, on Friday filed for a $200 million IPO (as Axios had reported it would).

Offering details: The Palo Alto, Calif.-based company plans to trade on the New York Stock Exchange under ticker symbol CLDR, with Morgan Stanley listed as left lead underwriter It reportedly will seek a valuation of around $4.1 billion.

Financials: Cloudera isn't anywhere close to profitable, although net losses fell from to $187 million in its latest fiscal year from $203 million for the prior year. Revenue climbed from $166 million to $261 million.

Backers: Cloudera has raised more than $1 billion in venture capital, according to PitchBook, and was most recently valued at about $4.1 billion. Its investors include Intel Corp. (22% pre-IPO stake), Accel (16.3%), Greylock (12.5%), GV and In-Q-Tel.

Fun fact: Cloudera's IPO process was code-named Project Thunders.

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