IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day
Summary
Cybersecurity firm CrowdStrike delivered the kind of market debut this week that was an unfulfilled dream for the much-anticipated IPOs of Uber and Lyft earlier this year. Founded in 2011, CrowdStrike offers cloud-based security that extends from the data center out to the endpoints of an enterprise network—laptops, smartphones, and other devices. As a private company, CrowdStrike had raised a total of $481 million from investors including Accel, March Capital Partners, General Atlantic, Institutional Venture Partners (IVP), and Capital G, the venture fund of Google parent company Alphabet, according to Crunchbase. Despite rewarding early investors with its striking public debut, CrowdStrike can’t bank on sustaining its elevated share price. Competitor Carbon Black (NASDAQ: CBLK) rejoiced in a healthy first-day bump when it went public in May last year, gaining 26 percent over its $19 IPO price.
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