Deals
Cloudflare Raises $525 Million in Above-Range IPO
- Cyber security provider’s $15 price values it at $4.4 billion
- Company’s risks include white supremacists using its software
Pedestrians walk past the Cloudflare Inc. headquarters in San Francisco.
Photographer: Michael Short/BloombergThis article is for subscribers only.
Cloudflare Inc., a firm that helps websites protect and distribute content, priced its shares above an already elevated target to raise $525 million.
San Francisco-based Cloudflare sold 35 million shares on Thursday for $15 each, the company said in a statement confirming an earlier report by Bloomberg. On Wednesday the company had increased its target ranged for the shares to $12 to $14, after earlier marketing them for $10 to $12.