Deals
Microsoft-Backed Rubrik Exceeds IPO Goal to Raise $752 Million
- Cloud, data security firm prices shares above marketed range
- Rubrik’s diluted valuation tops $6.6 billion at IPO price
Rubrik co-founder and CEO Bipul Sinha in a Bloomberg Technology Television interview in 2018
Photographer: Michael Short/BloombergThis article is for subscribers only.
Rubrik Inc., a cloud and data security startup backed by Microsoft Corp., priced its initial public offering above a marketed range and slightly expanded it to raise a total of $752 million.
Rubrik, which had planned to sell 23 million shares for $28 to $31 each, instead sold them for $32, according to a statement. The company also added 500,000 shares to the IPO late Wednesday, according to a filing with the US Securities and Exchange Commission.