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Pivotal Software on Friday filed for an IPO, reporting a $164 million net loss on $504 million in revenue for its most recent fiscal year.

Bottom line: Pivotal is majority owned by Dell Technologies, and this is Dell's first big step toward reducing its massive debt-load. Subsequent steps may include buying the rest of VMWare and/or Dell itself filing to go public.

Pivotal files for IPO, as Dell looks to reduce debt

Michael Dell. Photo by Drew Angerer/Getty Images

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Pivotal Software on Friday <a class="gtmContentClick" data-vars-link-text="filed for an IPO" data-vars-click-url="https://www.sec.gov/Archives/edgar/data/1574135/000104746918002061/a2234898zs-1.htm" data-vars-content-id="f800910d-fdae-4a5b-a592-5f86205fb5b1" data-vars-headline="Pivotal files for IPO, as Dell looks to reduce debt" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.sec.gov/Archives/edgar/data/1574135/000104746918002061/a2234898zs-1.htm" target="_blank">filed for an IPO</a>, reporting a $164 million net loss on $504 million in revenue for its most recent fiscal year.Bottom line: Pivotal is majority owned by Dell Technologies, and this is Dell&#x27;s first big step toward reducing its massive debt-load. Subsequent steps may include buying the rest of VMWare and/or Dell itself filing to go public.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Pivotal files for IPO, as Dell looks to reduce debt

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