Rubrik Could Raise Up to $713 Million in an Initial Public Offering

According to a source who is familiar with the situation, Rubrik Inc., a cloud and data security firm that is supported by Microsoft Corp., will attempt to raise as much as $713 million through an initial public offering.  

According to the individual, who requested anonymity due to the fact that the information was not available to the general public, the corporation intends to sell 23 million shares at prices ranging from $28 to $31 per share.  

One of Rubrik's representatives declined to comment on the matter. The pricing range that was supposed to be used was described earlier by   

It was in 2013 when Rubrik was established, and in 2016 it launched its first product. It stated in documents submitted to the United States Securities and Exchange Commission  

that it currently has more than 6,100 clients, some of whom are Goldman Sachs Group Inc., Barclays Plc, and Citigroup Inc. at the present time.  

A wide variety of businesses, including Home Depot Inc., PepsiCo Inc., Illumina Inc., Fiserv Inc., and the Denver Broncos, are among its clients. Additionally, the company operates for the benefit of governments and educational institutions.  

According to its records, Rubrik, which is headquartered in Palo Alto, California, experienced a net loss of $354 million on revenue of $628 million for the fiscal year that concluded on January 31.  

This is in contrast to the loss of $278 million that the company experienced on revenue of almost $600 million the previous year.  

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