Cybersecurity
CrowdStrike Almost Doubles in Debut as Tech IPOs Rush Ahead
- Fourth-biggest cybersecurity IPO lifts shares of peers
- CEO says geopolitical risks factor into growth outlook
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Software maker CrowdStrike Holdings Inc. soared in its trading debut after raising $612 million in one of the biggest-ever initial public offerings for a cybersecurity company.
Shares opened at $63.50 in New York and rose as much as 97% from their IPO price to $67. The stock closed up 71% to $58 on Wednesday. That valued the company at about $11.41 billion, almost quadruple its $3 billion valuation last June when it raised about $200 million in a private funding round.