Virtustream Nears $100 Million Revenue, Plans IPO in Year
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Virtustream Inc., a five-year-old company that makes software for businesses to run older applications alongside new ones, plans to file for an initial public offering within a year.
The Bethesda, Maryland-based company is on track to generate about $100 million in annual revenue by the end of 2014, Chief Executive Officer Rodney Rogers said in an interview. Virtustream makes money by charging a subscription fee for its software and selling services based on its technology, which lets companies easily run software from companies such as SAP SE on modern cloud-computing infrastructure. Virtustream hasn’t yet hired bankers for an IPO, Rogers added.