Search Engine company Elastic files for IPO

  • General
  • June 23, 2018
  • 174056
  • 3 minutes read

image credit : Elastic

Data search software provider Elastic which offers software to various companies to make scanning massive amounts of documents for key terms easily done has now filed to go public as a huge $1.5 -$3 Billion after raising a total of $104 million in the private market at a most recent valuation of $700 million.

This IPO is an addition to the huge list of public offerings which have happened and many more also earmarked to take place this year, The Amsterdam based company founded 2012 is notable for its major investors including Index Ventures, Benchmark Capital, SV Angel, New Enterprise Associates and many other notable investors.

The company last took in investment in 2014 where it raised $70 million in a Series C round by New Enterprise Associates and has made 5 acquisitions since then.

Among a long list of customers using its Elasticsearch product currently includes notable names like Telecom giant Sprint, $10 Billion ride-hailing company Grab, eBay, Vimeo, Lyft, Cisco and Dell amongst many other companies.

The company’s customers make use of its cloud based and other forms of software products to perform in-depth analysis from a vast number of data to better their business operations which is a very crucial part of the business eco-system in every company which has made Elastic to gain a huge number of customers.

The IPO is expected to happen later this year and will be a huge addition to the number of public offerings this year which have included technology companies like Smartsheet, cloud software provider Pivotal, Spotify, Zuora and Dropbox among many others who are also earmarked to go public later this year including Meituan Dianping, SurveyMonkey, Avalara, Chinese Travel giant Tongcheng-eLong and Bloom Energy and a host of other companies.

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