Apr 9, 2018

Cybersecurity company Carbon Black files for IPO

Dan Primack

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.

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Rashaan Ayesh

Bernie Sanders wins Nevada caucus

Democratic presidential candidate Sen. Bernie Sanders waves to supporters at a campaign rally on Friday in Las Vegas. Photo: Mario Tama/Getty Images

Sen. Bernie Sanders is projected to handily win the Nevada Democratic primary caucus, according to the Associated Press, with 10% of precincts reporting.

Why it matters: Nevada is the first state with a diverse population to hold a nominating contest, highlighting candidates' abilities to connect with voters of color — particularly Latino voters.

Go deeperArrowUpdated 14 mins ago - Politics & Policy
Axios

South Korea and Italy see spikes in coronavirus cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus has spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting these are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the United States.

The big picture: COVID-19 has now killed at least 2,362 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel and Lebanon, while Iran reported its sixth death from the virus. South Korea's confirmed cases jumped from 204 Friday to 433 on Saturday and Italy's case count rose from 3 to 62 by Saturday.

Go deeperArrowUpdated 1 hour ago - Health
Rashaan Ayesh

America's rundown roads add to farmers' struggles

Illustration: Sarah Grillo/Axios

American farmers are struggling to safely use the roads that cut through their fields; decades of neglect and lack of funding have made the routes dangerous.

The big picture: President Trump has long promised to invest billions in rural infrastructure, and his latest proposal would allocate $1 trillion for such projects. Rural America, where many of Trump's supporters live, would see a large chunk of that money.

Go deeperArrow6 hours ago - Economy & Business