The Best IPOs to Buy for the Rest of 2017: Cloudera
IPO Timetable: Next six months (estimated)
Cloudera, founded in 2008, is a software development company operates a platform based on the open-source Apache Hadoop system, which allows for high-end analytics and big data applications. Cloudera’s specific focus is the enterprise.
The founders are veterans of some of the leading companies in Silicon Valley including Alphabet Inc (NASDAQ:GOOGL), Oracle Corporation (NYSE:ORCL) and Facebook. And its chief architect, Doug Cutting, is co-creator of Hadoop.
The Cloudera system has wide applications. For example, the company has entered a partnership with Navistar International Corp (NYSE:NAV) to develop data management and analytics for connected trucks, buses and defense vehicles. Says the CIO of Navistar:
“By collecting and analyzing our vehicle telematics, we have reduced maintenance costs and vehicle downtime by almost 40% and have implemented remote monitoring coverage to more than 250,000 vehicles. Cloudera’s platform enabled us to ingest not only IoT and telematics data from sensors, but meteorological, engineering, traffic and vehicle usage, and access and analyze all these different data types in ways that weren’t possible before.”
The last financial disclosure for Cloudera was for fiscal 2015, when the company surpassed $100 million in revenues. Cloudera has raised $670 million to date from investors including Intel Corporation (NASDAQ:INTC), Accel Partners and Greylock Partners.
Cloudera already has made a confidential filing for its IPO with the SEC, so now things are just a question of when. Lead underwriters will include Morgan Stanley (NYSE:MS), JPMorgan Chase & Co. (NYSE:JPM) and Bank of America Corp (NYSE:BAC).