Rubrik is hitting the market at a historically slow time for venture-backed tech IPOs.
The data management software company previously said it expected to sell shares at between $28 and $31.
The 10-year-old company had planned to sell 23 million shares ahead of its New York Stock Exchange debut on Thursday, and will trade under the ticker symbol"RBRK." The offering raised $752 million and values the company at $5.6 billion.Rubrik is hitting the public market during a historically slow period for venture-backed tech IPOs, particularly when it comes to companies that sell to businesses.
Rubrik now gets 91% of its revenue from subscriptions, up from 59% two years ago. Revenue increased less than 5% in the fiscal year that ended on Jan. 31, but annual recurring revenue from subscriptions jumped 47%. "Our key top-line metric is subscription ARR," Rubrik CFO Kiran Choudary said in a videotaped presentation for the company's IPO roadshow.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rubrik prices IPO at $32 per share, above expected rangeRubrik is hitting the market at a historically slow time for venture-backed tech IPOs.
Read more »
Rubrik prices IPO at $32 per share, above expected rangeRubrik is hitting the market at a historically slow time for venture-backed tech IPOs.
Read more »
Klimt portrait lost for nearly 100 years auctioned off for $32 millionGustav Klimt's 'Portrait of Fräulein Lieser,' which went missing after its owners fled Austria after 1930, was auctioned off for $32 million.
Read more »
Gustav Klimt portrait sold for $32 million at auction in ViennaOne of Gustav Klimt's final paintings from 1917, 'Portrait of Fräulein Lieser,' has sold at an auction house in Vienna for $32 million by an unidentified buyer.
Read more »
A portrait by Gustav Klimt has been sold for $32 million at an auction in ViennaVIENNA (AP) — A portrait of a young woman by Gustav Klimt that was long believed to be lost was sold at an auction in Vienna on Wednesday for 30 million euros (
Read more »
Klimt portrait missing for nearly a century sold for $32 millionA portrait by Gustav Klimt that was unseen for almost a century has sold for $32 million – the bottom end of its pre-auction estimate.
Read more »