Fastly Plans $170 Million IPO for May 17th (FSLY)

Fastly (FSLY) expects to raise $170 million in an initial public offering (IPO) on Friday, May 17th, IPO Scoop reports. The company will be issuing 11,300,000 shares at $14.00-$16.00 per share.

In the last year, Fastly generated $157.6 million in revenue and had a net loss of $31.4 million. Fastly has a market cap of $1.4 billion.

BofA Merrill Lynch, Credit Suisse and Citigroup acted as the underwriters for the IPO and William Blair, Raymond James, Baird, Oppenheimer, Craig-Hallum Capital Group and D.A. Davidson & Co. were co-managers.

Fastly provided the following description of their company for its IPO: ”  Developers are reinventing the way we live, work, and play online. Yet they repeatedly encounter innovation barriers when delivering modern digital experiences. Expectations for digital experiences are at an all-time high; they must be fast, secure, and highly personalized. If they aren’t reliable, end-users simply take their business elsewhere. The challenge today is enabling developers to deliver a modern digital experience while simultaneously providing scale, security, and performance. We built our edge cloud platform to solve this problem.The edge cloud is a new category of IaaS that enables developers to build, secure, and deliver digital experiences, at the edge of the internet. “.

Fastly was founded in 2011 and has 489 employees. The company is located at 475 Brannan Street, Suite 300, San Francisco, CA 94107, US and can be reached via phone at 1-844-432-7859 or on the web at http://www.fastly.com.

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