Rubrik’s IPO filing hints at thawing public markets for tech companies

Rubrik’s IPO filing hints at thawing public markets for tech companies

2 weeks ago
Anonymous $6hYC3Wwiad

https://techcrunch.com/2024/04/02/rubriks-ipo-filing-hints-at-thawing-public-markets-for-tech-companies/

Rubrik, a data cybersecurity company that raised more than a half-billion dollars while private, filed to go public after the bell on Monday. Following quickly on the heels of debuts from Reddit and Astera Labs, the choice by Rubrik to pursue a public offering now could indicate that the IPO market is warming for tech companies.

As a private-market company, Rubrik last raised a lettered round in 2019 when it closed $261 million at a $3.6 billion post-money valuation, according to Crunchbase data. The company could have luck pricing its IPO shares significantly higher than its last primary round. Buyers on the secondary market have bid for shares valuing the company at $6.6 billion in recent months. Secondary data platform Caplight estimates the company’s valuation hovers around $6.3 billion.