HashiCorp IPO: How to buy this cloud computing stock?

Published on November 05, 2021 04:12 AM EDT

HashiCorp IPO: How to buy this cloud computing stock? — Image source: © Demidovichphotostock/Megapixl.com

Highlights

HashiCorp is reportedly aiming to reach a valuation of around US$ 10 billion.

HashiCorp has applied to trade under the stock symbol HCP on the New York Stock Exchange (NYSE).

The company provides cloud-based software to prestigious clients like Dutch lender ABN AMRO

The California-based software company HashiCorp, Inc. is looking to go public in the US equities market and submitted the prospectus with the regulatory authorities on Thursday, November 4.

Many technology companies are going public across North America as the COVID-19 pandemic has led to a digital migration of business operations.

HashiCorp is reportedly aiming to reach a valuation of around US$ 10 billion and plans to list its shares on the New York Stock Exchange (NYSE).

All you need to know about HashiCorp, Inc.

HashiCorp was started in 2012 and provides commercial tools and open-source tools to enable security professionals and developers to secure and run cloud-computing infrastructure.

Also Read: Coveo IPO: How to buy the enterprise software company’s stock?

HashiCorp was co-founded by Mitchell Hashimoto and Armon Dadgar and the company's investors include Mayfield, T Rowe Price, and Franklin Templeton.

The California-based company has applied to trade under the stock symbol ‘HCP’, and the leading underwriters for the initial public offering would be J.P. Morgan, Goldman Sachs & Co, and Morgan Stanley among others.

HashiCorp IPO: How to buy this cloud computing stock?

Although HashiCorp's headquarter is in San Francisco, the company claims to be a remote-first company and has a globally distributed workforce of 1,500 employees.

Those interested in the company's stock could get an option of buying the pre-IPO shares after HashiCorp reveals the price range of the shares and files the final registration statement with the regulatory authorities.

Bottom line

In the prospectus filed with the Securities and Exchange Commission (SEC), HashiCorp claims that it provides a comprehensive operating model that can be employed in multi-cloud hybrid environments, public and private cloud.

According to the International Data Corporation, the cloud services market is expected to reach US$ 676.1 billion in the next three years and the company could grow further as the market is expected to grow rapidly.

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For the period ended January 31, 2021, the company's cash and cash equivalents were worth US$ 270.8 million, up from US$ 110.5 million in the same period of last year.

Raza Naqvi

Author

Raza Naqvi - Financial Journalist
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Raza comes from a hard-news background and is an experienced writer with a demonstrated history of working in reputed organizations like the United Nations, Indian Express, and Hindustan Times. Currently, he is exploring the financial world!...

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