Cloud computing PagerDuty files for IPO

PagerDuty Inc. has filed for an initial public offering, according to a Friday filing. The San Francisco-based cloud computing company filed to sell $100 million in shares, although that figure is often a placeholder used to calculate registration fees. As of October, PageDuty had 10,806 customers, including Box Inc

BOX, +0.91%

and Okta Inc.

OKTA, -4.43%

it said. The company listed losses of $1.63 a share for the first nine months of 2018, which compared with losses of $1.50 for the same period in 2017 and a $1.91 loss for all of 2018. Revenue for 2018 reached $79.6 million. Proceeds will be used for general corporate purposes, including working capital, operating expenses, and capital expenditures, the company said. Underwriters include Morgan Stanley, J. P. Morgan, and RBC Capital Markets. Andreessen Horowitz and Baseline Ventures are among its backers. PagerDuty will trade on the New York Stock Exchange under the symbol PD. This year’s crop of Silicon Valley “decacorns” IPOs include Lyft Inc., which filed earlier this month, and rival Uber Technologies Inc.

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(Excerpt) Read more Here | 2019-03-15 20:27:21
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