Cybersecurity company soars after one of the biggest-ever initial public offerings in the sector
Crystal TseNew York — Software maker CrowdStrike Holdings soared in its trading debut after raising $612m in one of the biggest-ever initial public offerings for a cybersecurity company.
Founded in 2011 by former McAfee executives, CrowdStrike makes software to protect clients from cyberattacks, including predicting and detecting potential hacks. Its clients include Amazon.com and HSBC Holdings, according to its filings. CrowdStrike’s value approaches that of Symantec the maker of Norton antivirus software. Symantec, which went public in 1989 in a $16.5m IPO, is currently valued at $11.86bn.
Slack Technologies is set to go public next week in an unusual direct listing that, according to people familiar with the matter, could value it at $16bn to $17bn. Other tech related companies considering IPOs include Peloton Interactive, Postmates and WeWork.
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