Apr 20, 2012, 4:00 pm EDT
Proofpoint (NASDAQ:PFPT), a provider of cloud-based security services, hit the IPO market today. The deal was priced at $13, which was above the $10 to $12 range. In today’s trading, the stock is up 9%. The underwriters included Credit Suisse (NYSE:CS) and Deutsche Bank (NYSE:DB).
Proofpoint has a comprehensive suite for security. The main areas include email protection, phishing detection, privacy solutions, compliance and archiving.
To better deliver these applications, Proofpoint is based on a cloud platform. But it has taken a unique approach. “Customers can deploy our applications behind the firewall,” said CEO Gary Steele in an interview this morning. “We still get the cost savings from the cloud but also improve the overall security.” Read
Apr 20, 2012, 12:17 pm EDT
Infoblox (NYSE:BLOX), a developer of appliances for datacenters, popped by about 36% in its first day of trading after pricing its IPO around $16 last night.
Founded in 1999, Infoblox is a top player in helping to automate computer networks. Some of the functions include IP address management, device configuration, compliance, network discovery, policy implementation, security and monitoring. All this is done in real-time, which allows companies to better deal with any problems.
Infoblox has sold its appliances to over 5,400 end customers like Adobe (NASDAQ:ADBE), Boeing (NYSE:BA) and Caterpillar (NYSE:CAT). Read
Apr 19, 2012, 12:40 pm EDT
Splunk (NASDAQ:SPLK), a top player in the fast-growing “big data” space, pulled off a huge IPO today. The stock was priced at $17, which was well above the $11 to $13 range. So far in today’s trading, the shares are up about 90%.
About a year ago, I met the co-founder and chief technology officer of Splunk, Erik Swan. On a whiteboard, he sketched out a compelling future for the company.
Basically, Splunk develops sophisticated software that makes it possible to analyze data logs. This may sound unsexy, but it’s critically important because it helps companies detect security breaches and other real-time issues. Read
Apr 16, 2012, 12:03 pm EDT
As long as the equities markets remain fairly stable, this should be a strong week for IPOs, with 11 deals planned over the next few days.
The following three initial public offerings come from the tech sector and are getting a lot of buzz:
Splunk (NASDAQ:SPLK) is a leader in the information technology market for “big data.” The company’s technology makes it easy for customers to analyze huge amounts of data logs, which helps to find security problems. Read
Apr 13, 2012, 12:30 pm EDT
Since Facebook agreed to buy Instagram for $1 billion on Monday, traffic on the photo-sharing site has exploded. It’s attracting roughly 1 million users per day.
In addition to the PR from the acquisition deal, Instagram is getting a lift from its recent launch on Google’s (NASDAQ:GOOG) Android platform. Before then, the app was only for Apple’s (NASDAQ:AAPL) iOS.
Right now, Instagram’s has 40 million users. And growth is likely to continue, especially when Facebook hits the public markets — which should happen in about a month or so. Read
Apr 13, 2012, 12:29 pm EDT
When Google (NASDAQ:GOOG) came public in 2004, the company’s founders — Sergey Brin and Larry Page — wrote a letter to shareholders that was called an “Owner’s Manual.” In it, they talked about the reasoning for having a dual class of shares, which gave them control over the company. They said that the “standard structure of public ownership” would be harmful to the long-term prospects for Google.
This kind of language should have been scary for shareholders, but few complaints ever followed. After all, Google’s stock is up more than 500% since its IPO.
So this week, Brin and Page made some moves to keep their iron grip on Google. To this end, they created a new class of nonvoting shares for public shareholders. The result “effectively” is a 2-for-1 split that will provide more shares for acquisitions and employee stock option grants — while still giving Brin and Page absolute power over the company’s decision making. Read