Enterprise data company Cloudera just began trading on the NYSE
Cloudera Inc. held its IPO today on the New York Stock Exchange. The company and its underwriters settled on an IPO price of $15, pricing above expectations of $12-$14.
Shares of Cloudera are up 22%, or $3.20, in the stock's first minutes of trading.
Cloudera describes itself as a "United States-based company, which offers Cloudera, a platform for machine learning and analytics built on open source technologies."
Cloudera is offering 15 million shares with an optional 2.25 million for underwriters, for a total of $250 million.
Cloudera held a private round of fundraising in 2014 offering shares at $30.92, which valued the company at over $4 billion. Today's IPO values the company at about $2 billion, so investors from that 2014 round will see the value of their investment almost cut in half.
Chip maker Intel made a substantial investment in Cloudera several years ago.
Click here for a real-time Cloudera chart.