HashiCorp Inc said on Monday it is targeting a valuation of up to $13 billion in its initial public offering in the United States, as the company seeks to take advantage of the high investor interest around enterprise software firms.
The San Francisco-based company said it is targeting a sale of 15.3 million shares priced between $68 and $72 each. At the top end of that range, the IPO would fetch $1.1 billion of proceeds,
HashiCorp, co-founded in 2012 by Mitchell Hashimoto and Armon Dadgar, claims its products help in solving the core infrastructure challenges related to cloud adoption. As of Oct. 31, the company said it had 2,392 customers in over 45 countries, including Bank of America Corp, Goldman Sachs Group Inc, Stripe and Roblox Corp, among others.
Read more/Source: Reuters
