Hashicorp IPO : Cloud software vendor HashiCorp files for IPO
Hashicorp IPO : Cloud software vendor HashiCorp files for IPO
Revenue at HashiCorp, a company that helps developers manage cloud infrastructure, surged 49% in the second quarter, according to the company’s filing to go public on Thursday.
NYSE ticker symbol “HCP” will be used to identify the corporation.
For its 1,500 employees, HashiCorp describes itself as a “remote-first corporation with a global distributed workforce.” Mitchell Hashimoto, one of the firm’s co-founders, launched the company in 2012.
Company Overview
| Proposed Symbol | HCP |
|---|---|
| Company Name | HashiCorp, Inc. |
| Exchange | NASDAQ Global Select |
| Share Price | — |
| Employees | 1650 (as of 10/31/2021) |
| Status | Filed |
| Shares Offered | — |
| Offer amount | $100,000,000.00 |
| Shares Over Alloted | — |
| Company Address | 101 2ND STREET, SUITE 700 SAN FRANCISCO CA 94105 |
| Company Phone | 415-301-3227 |
| Company Website | www.HashiCorp.com |
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Cloud-based open-source software, such as Terraform and Vault, is available from HashiCorp. Subscription revenues made up nearly all of the company’s revenue for the quarter ending July 31, up from $50.5 million in the same period last year.
Company Financials
| Revenue | $224,246,000.00 |
|---|---|
| Net Income | $62,438,000.00 |
| Total Assets | $418,896,000.00 |
| Total Liabilities | $245,868,000.00 |
| Stockholders’ Equity | ($176,085,000.00) |
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To capitalise on the rising demand for fast-growing software enterprises, the company is preparing to go public. In the most recent quarter, GitLab, a fully-remote developer collaboration platform, generated $58.1 million in sales and has a market capitalization of $16 billion. Founded in September, Toast is a company that supplies restaurants with hardware, software, and payment solutions.
