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Stock impact report

Microsoft-backed Rubrik looking to raise $713 million in latest tech IPO [Yahoo! Finance]

Astera Labs, Inc. (ALAB) 
Company Research Source: Yahoo! Finance
Along with Astera Labs and Reddit , Rubrik is one of the major tech firms many investors have been hoping would IPO this year, ending a two-year drought of public offerings. Additionally, Rubrik is a traditional SaaS (software as a service) company and will serve as a better comparison for other tech companies evaluating whether to go public in 2024, explained Phil Haslett, cofounder and chief strategy officer for EquityZen, a secondary marketplace for companies in the private market. Because Rubrik has positive financial indicators—$784 million in revenue and 40% growth in positive cash flow—Haslett noted, if its IPO doesn't do well it could create a chilling effect. “If this IPO happened, like, four or five years ago, people would be talking about how Rubrik was a really big company from a revenue perspective and a success story,” added Haslett, who asked whether the standards for going public have changed significantly. “Because if so, then we have to kind of take a look at wh Show less Read more
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