Web security company Cloudflare files to go public

Cloudflare, a company whose technology helps companies distribute their content and keep it available online, has filed to go public. On Thursday the company’s filing kicking off the process of its initial public offering became publicly available.

In the first half of 2019, Cloudflare had a $36.8 million net loss on $129.2 million in revenue, according to the IPO prospectus. That revenue figure was up 48% from the first half of 2018…

The company plans to start trading under the ticker symbol “NET.” The lead underwriters are Goldman Sachs, Morgan Stanley and JP Morgan.

Cloudflare’s competitors include AkamaiCiscoZscaler and cloud providers like Amazon and Microsoft.

Cloudflare says 20 million internet properties use its services.

The company had 74,873 paying customers at the end of the first half of 2019, with 408 of them contributing more than $100,000 in annualized billings.

Cloudflare has been involved in several controversies, most recently…

Continue reading at CNBC.com

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