Wednesday, October 24, 2018

Cloudflare Hires IPO Banker

San Francisco-based Cloudflare has hired an investment banker to lead its IPO, according to a report from Reuters, which says Cloudflare has hired Goldman Sachs as the lead banker on an upcoming IPO. The report says that the IPO will value Cloudflare at more than $3.5 billion. Cloudflare is venture backed by such investors as Fidelity, Google, Microsoft, Qualcomm, and Baidu, along with Union Square Ventures, Greenspring, New Enterprise Associates, Pelion Venture Partners, and Venrock, among others. The company operates a service which helps web site and web application developers manage caching and access to their websites, protecting against cyberattacks, distributed denial of service (DDoS), and other issues encountered from the web.