tl;dr
Cloud and cybersecurity startup Rubrik, backed by Microsoft (NASDAQ:MSFT), has filed for an initial public offering with the U.S. Securities and Exchange Commission. The Palo Alto-based company plans to offer its shares to the public as soon as the Registration Statement is declared effective. "We...
Cloud and cybersecurity startup Rubrik, backed by Microsoft (NASDAQ:MSFT), has filed for an initial public offering with the U.S. Securities and Exchange Commission. The Palo Alto-based company plans to offer its shares to the public as soon as the Registration Statement is declared effective. "We are defining the future of cybersecurity," said Rubrik CEO Bipul Sinha in a letter to investors. "In today's world, no government or business is immune to cyberattacks. We do what matters." Rubrik aims to raise $500 million to $700 million in the IPO. Microsoft had invested in Rubrik in 2021 as part of a financing round that valued the startup at $4 billion. Rubrik's subscription revenue has shown a steady increase over the years. The company reported total revenue of $599 million for the year-ended January 31, 2023, which grew to $627 million one year later. However, it also recorded net losses of $278 million in 2023 and $355 million in 2024. The company measures its business based on Subscription Annual Recurring Revenue (ARR), which demonstrates its success in acquiring new subscription customers and maintaining existing relationships. As of January 31, 2024, Rubrik had 1,742 customers generating more than $100,000 in Subscription ARR and 99 customers generating more than $1,000,000 in Subscription ARR. Rubrik mentions its continued investments in business growth and solutions advancement to capitalize on the market opportunity, resulting in net losses in fiscal 2023 and fiscal 2024. Pre-IPO share prices for Rubrik have ranged from $32 to $39, with Goldman Sachs, Barclays, Citigroup, and Wells Fargo serving as lead underwriters.
More about Microsoft Corporation
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Microsoft Corporation is an American multinational technology company known for producing computer software, consumer electronics, personal computers, and related services. Its notable software products include the Microsoft Windows operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. In terms of hardware, Microsoft is recognized for the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers.
According to the 2020 Fortune 500 rankings, Microsoft secured the 21st position among the largest United States corporations by total revenue. In 2016, it held the distinction of being the world's largest software maker by revenue. Within the U.S. information technology industry, Microsoft is considered one of the Big Five companies, alongside Google, Apple, Amazon, and Facebook.
Industry: Technology
Sector: Services-Prepackaged Software
Market Cap: 312.61 billion
Current Price: $38.04
Change: 2.86 ( 11.06%)
52-Week Range: $30.61 - $425.08
PE Ratio: 0.363
Volume: 2,275,830,010
Dividend Yield: 0.332
Beta: 0.176
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