CrowdStrike, a Sunnyvale, Calif.-based cybersecurity company, raised $612 million in its IPO. It priced 18 million shares at $34, well above its $23-$30 offering range (let alone its original $19-$23 range), for an initial market cap of $6.69 billion.

Why it matters: This is the latest indication that Wall Street has a voracious appetite for money-losing tech unicorns, so long as they don't focus on ride-hail.

ROI: CrowdStrike had raised over $480 million in VC funding from firms like Warburg Pincus (30.2% pre-IPO stake), Accel (20.2%) and CapitalG (11.1%). Its last private valuation was $3.35 billion, post-money on a Series E round last summer.

The bottom line:

"CrowdStrike provides cloud-based security technology, aiming to do for security what other companies have done for human resources, customer relationship management and other sectors. The company gained notoriety after revealing that two groups with ties to Russian intelligence had breached the Democratic National Committee’s technology during the 2016 presidential campaign."
Tomio Geron, the Wall Street Journal

Go deeper: CrowdStrike files for IPO amid 2020 hacking fears

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump calls Fauci a "disaster" on campaign call.
  2. Health: Coronavirus hospitalizations are on the rise — 8 states set single-day coronavirus case records last week.
  3. States: California to independently review FDA-approved coronavirus vaccines
  4. Wisconsin judge reimposes capacity limit on indoor venues.
  5. Media: Trump attacks CNN as "dumb b*stards" for continuing to cover pandemic.
  6. Business: Consumer confidence surveys show Americans are getting nervousHow China's economy bounced back from coronavirus.
  7. Sports: We've entered the era of limited fan attendance.
  8. Education: Why education technology can’t save remote learning.
Dion Rabouin, author of Markets
2 hours ago - Economy & Business

The 2020 holiday season may just kill Main Street

Illustration: Eniola Odetunde/Axios

Online retail and e-commerce have been chipping away at brick-and-mortar businesses over the years but the combination of the coronavirus pandemic and the 2020 holiday season may prove to be a knockout blow.

State of play: Anxious consumers say financial concerns and health worries will push them to spend less money this year and to do more of their limited spending online.

California to independently review FDA-approved coronavirus vaccines

California Gov. Gavin Newsom. Photo: Justin Sullivan/Getty Images

California will "independently review" all coronavirus vaccines approved by the Food and Drug Administration before allowing their distribution, Gov. Gavin Newsom (D) announced at a news conference Monday.

Why it matters: The move that comes days after NAID director Anthony Fauci said he had "strong confidence" in FDA-approved vaccines could cast further public doubt that the federal government could release a vaccine based on political motives, rather than safety and efficacy.