Deals
Cloudera's $210 Million IPO Is Latest Unprofitable Tech Listing
- Company’s potential valuation well below last private round
- Investors have been willing to bet on 2017’s tech IPOs
Signage is displayed on the window of the New York Stock Exchange (NYSE) in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Big-data company Cloudera Inc. aims to raise as much as $210 million in an initial public offering that will continue to test investors’ appetite for young companies with big losses.
The company, which is backed by Intel Corp., is marketing 15 million shares at $12 to $14 each, according to a filing Monday. While Cloudera has posted losses since it was founded in 2008 and warns it may never be profitable, a lack of net income hasn’t dissuaded investors from embracing other listings this year.