Friday, April 28, 2017

U.S. software company Cloudera beats expectations in IPO: source | Reuters

A big reality check day ahead for the Hadoop ecosystem

"U.S. software company Cloudera Inc (CLDR.N) raised $225 million in an initial public offering on Thursday, a source familiar with the situation said, giving the company a market valuation of about $1.9 billion, a steep fall from the $4.1 billion it was once valued at in the private market.

Investors including chip company Intel Corp (INTC.O) piled into Cloudera several years ago when a flood of money into private technology companies pushed valuations skyward.

Cloudera said it priced its shares at $15, above its indicated range of $12 to $14, but still a far cry from the $30.92 a share that Intel paid in 2014.

Cloudera will begin trading tomorrow [Friday] on the New York Stock Exchange under the symbol "CLDR.""
U.S. software company Cloudera beats expectations in IPO: source | Reuters
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