Report: Cloudera looks to go public as demand for Big Data solutions grow

March 15, 2017
24 Views

Image

Dive Brief:

  • Cloudera Inc. is planning to go public, reportedly filing paperwork to go public last week, according to Bloomberg. The company is backed by Intel Corp.

    Image

    Dive Brief:

    • Cloudera Inc. is planning to go public, reportedly filing paperwork to go public last week, according to Bloomberg. The company is backed by Intel Corp. and is reportedly working with Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp., Allen & Co. and Citigroup on the IPO, unidentified sources told Bloomberg.

    • The company is expecting a valuation of about $4.1 billion, according to the report. 

    • Cloudera offers tools and services based on Hadoop, the open-source software framework used for processing Big Data sets.

    Dive Insight:

    The proliferation of data means organizations need help processing and making sense of all that information, figuring out how to put it to use. Cloudera’s technology helps customers analyze large amounts of data and then enables them to use that data to make decisions quickly. Companies are hungry for that type of solution to help them generate bottom line improvements.

    Demand for Big Data solutions is high and has continued to increase in recent years. By 2020, revenue from Big Data and analytics is projected to reach more than $203 billion, according to a recent IDC report.

    It isn’t just Big Data that is drawing companies to going public. The reported IPO also comes during a time where more tech companies are looking to IPO, less wary of potential performance downturns that plagued some public tech offerings last year. While the market for tech IPOs started slowly this year, it is starting to pick up steam. Snapchat parent Snap Inc. raised $3.9 billion this month, while enterprise software company MuleSoft Inc. is planning to price its IPO March 16.


     

    This post originally appeared on our sister publication, CIO Dive. Our mission is to provide busy professionals like you with a bird’s-eye-view of the Information Technology industry in 60 seconds. To subscribe to our daily newsletter click here.

     

You may be interested

Administration of Spring Boot Applications
Software
0 shares116 views
Software
0 shares116 views

Administration of Spring Boot Applications

Johnnymorgan - May 24, 2017

Technology:  Spring Boot Admin is the application for managing and monitoring based on Spring Boot Applications. The application can be…

3 Indispensable Ways to Reach Your Marketing Potential with Data
Business Intelligence
0 shares332 views
Business Intelligence
0 shares332 views

3 Indispensable Ways to Reach Your Marketing Potential with Data

Rohan Ayyar - May 23, 2017

Today, all marketing is done on the back of data. Marketers know their decisions and actions must have a rationale…

How Did Big Data Create a Modern Day Manufacturing Workforce?
Big Data
0 shares406 views
Big Data
0 shares406 views

How Did Big Data Create a Modern Day Manufacturing Workforce?

Megan Ray Nichols - May 23, 2017

Despite its relatively brief lifespan thus far, big data is poised to reinvigorate the U.S. manufacturing workforce. Some of the…