Pivotal Software files for IPO
Summary
Pivotal looks to “provide a leading cloud-native platform that makes software development and IT operations a strategic advantage for our customers.“We have incurred substantial losses and may not be able to generate sufficient revenue to achieve and sustain profitability,” the company warned in the “risk factors” section of its IPO filing.Pivotal also acknowledges that it faces competition from “legacy application infrastructure and middleware form vendors” like IBM and Oracle.It also faces challenges from SAP Cloud Platform, Amazon Web Services and Microsoft Azure.The year was off to a slow start for tech IPOs with just Cardlytics and Zscaler debuting, but now we’re seeing a flurry with Dropbox, Spotify, Zuora and Pivotal.
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