Cloud-technology cybersecurity company CrowdStrike (CRWD) kicked off its initial public offering on a high note on Tuesday, opening for trading at $63.50 a share, well above its IPO price of $34.
The Sunnyvale, Calif.-based company, which uses the slogan "Breaches Stop Here," was expected to price its 18 million Class A shares at between $28 and $30 a share, netting it approximately $600 million.
CrowdStrike joins several other big tech companies that have taken the IPO route this year, including Uber (UBER) , Pinterest (PINS) , Zoom Video (ZM) and Lyft (LYFT) -- and one big non-tech IPO, Beyond Meat (BYND) .
Office-messaging platform provider Slack is expected to follow later this month.
About @Crowdstrike:— Nasdaq (@Nasdaq) June 12, 2019
☁️ Cloud-native technology model
�� Deployed in 176 countries
�� Customers include 44 of the Fortune 100
�� Nine of the top 20 major banks#CrowdStrikeIPO #WeAreCrowdStrike pic.twitter.com/wnl1rxvkoi
CrowdStrike reported a net loss of $140 million on $250 million in revenue for its fiscal year ended in January, according to its S-1 filing with the U.S. Securities and Exchange Commission.
At last check, the stock was up 76%, or $25.84 a share, at $59.84.
The company provides endpoint security, threat intelligence, and incident response services in more than 170 countries.