Cloudera Said to Choose Banks for IPO as Soon as This Year
#Cloudera Inc., the #bigdata company backed by #Intel Corp., hired underwriters for an initial public offering that could come as soon as this year, people with knowledge of the matter said. The company, based in Palo Alto, California, is eyeing a valuation of about $4.1 billion, said the people, in line with what it fetched in its last private round three years ago. Cloudera notified a number of firms this month that they’d been picked to lead the IPO, said the people, who asked not to be identified because the information is private. After a quiet start to 2017, the U.S. market for technology IPOs market will face its first test this week. Snap Inc., the maker of the disappearing-photo app, is seeking to raise as much as $3.2 billion in an IPO scheduled to price Wednesday that could value the company at as much as $18.5 billion.