Cloudflare preparing for $3.5-billion IPO – Report

Cloudflare is getting ready to launch its initial public offering (IPO) in the first half of 2019 that may value the company at over $3.5 billion, Reuters reported, citing sources familiar with the matter.

The company offers a range of web performance and security services, including a content delivery network, mitigation of distributed denial-of-service (DDoS) attacks, and distributed domain name system servers.

An exact date for the IPO has not yet been decided on, the report stated. Goldman Sachs will lead the IPO.

According to the report, technology companies like Cloudflare are pushing to go public to capitalise on markets while interest rates are low and valuations of private companies are relatively high. This is despite recent declines in major indices such as the S&P 500.

Reuters also reported that Cloudflare did not respond to requests for comment, and that Goldman Sachs declined to comment.

Now read: Cloudflare ordered to release personal information of “pirate” site operators

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Cloudflare preparing for $3.5-billion IPO – Report