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Reuters: Cloudflare preps IPO with potential $3.5B valuation

Published 10/23/2018, 03:32 PM
© Reuters.  Reuters: Cloudflare preps IPO with potential $3.5B valuation
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  • Web performance software company Cloudflare (FLARE) is preparing for an IPO that could value it at over $3.5B, according to Reuters sources.
  • Goldman Sachs (NYSE:GS) will lead the IPO with the goal of going public in 1H19, though details and scheduling could change.
  • Cloudflare provides cloud-based web services that improve user experiences through actions like making videos load faster and by preventing cyber attacks. Clients include Zendesk and Cisco (NASDAQ:CSCO).
  • Cloudflare serves 10M web domains, and the average internet user touches its services around 500 times a day, according to the company.
  • Competitors: Akamai Technologies (AKAM -1.4%) plus products from the cloud units of Google (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN).
  • Now read: Is The New Cannabis Payment Solution Of Net Element An Opportunity?


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