Apr 9, 2018

Cybersecurity company Carbon Black files for IPO

Dan Primack, author of Pro Rata

Carbon Black, a Boston-area maker of antivirus software and other endpoint security solutions, has filed for an IPO. The official offering amount is $100 million, but that's likely a placeholder.

Why it matters: Because it's finally happening. Carbon Black (originally known as Bit9, prior to a 2014 merger) did a confidential IPO filing more than 18 months ago.

  • The company plans to trade on the Nasdaq under ticker CBLK with Morgan Stanley listed as lead underwriter.
  • It reports a $56 million net loss on $162 million in revenue for 2017, compared to a $45 million net loss on $116 million in revenue for 2016. Almost all of the revenue is for subscription products, with the remainder for services.
  • Carbon Black and Bit9 raised more than $230 million in combined VC funding, from firms like Accomplice (17% pre-IPO stake), Highland Capital Partners (14.9%), Sequoia Capital (9.9%), Kleiner Perkins (8.8%), .406 Ventures (7.7%) and The Blackstone Group.

Go deeper

Dave Lawler, author of World
16 mins ago - World

U.S.-brokered ceasefire collapses in Nagorno-Karabakh

Volunteer fighters in Stepanakert, the capital of Nagorno-Karabakh. Photo: Aris Messinis/AFP via Getty Images

A U.S.-brokered ceasefire between Armenia and Azerbaijan in the disputed territory of Nagorno-Karabakh crumbled within hours on Monday, leaving the month-old war rumbling on.

Why it matters: Nearly 5,000 people have been killed, according to Vladimir Putin’s rough estimate, including more than 100 civilians. Between 70,000 and 100,000 more are believed to have fled the fighting.

Go deeper (2 min. read)Arrow
Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. World: Restrictions grow across Europe.
  6. Media: Fox News president and several hosts advised to quarantine.
Go deeper (1 min. read)Arrow
Ben Geman, author of Generate
2 hours ago - Energy & Environment

Japan's big new climate goal

Climate protest in Tokyo in November 2019. Photo: Carl Court/Getty Images

Japan's new prime minister said on Monday the nation will seek to become carbon neutral by 2050, a move that will require huge changes in its fossil fuel-heavy energy mix in order to succeed.

Why it matters: Japan is the world's fifth-largest source of carbon emissions. The new goal announced by Prime Minister Yoshihide Suga is stronger than the country's previous target of becoming carbon neutral as early as possible in the latter half of the century.

Go deeper (1 min. read)Arrow