{"id":892,"date":"2015-09-24T09:01:53","date_gmt":"2015-09-24T13:01:53","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=892"},"modified":"2015-09-24T09:11:55","modified_gmt":"2015-09-24T13:11:55","slug":"unicorn-pure-storage-sets-terms-for-ipo","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/unicorn-pure-storage-sets-terms-for-ipo\/","title":{"rendered":"Unicorn Pure Storage Sets Terms for IPO"},"content":{"rendered":"

An IPO rumored for weeks, Pure Storage (NYSE: PSTG)<\/a><\/strong>, set terms on Thursday morning for a deal that is set to debut on October 7.<\/p>\n

Pure Storage transforms business through a dramatic increase in performance and reduction in complexity and costs. Their innovative technology replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.<\/p>\n

Pure Storage is on Fortune.Com’s list of Unicorn’s — coming in at No. 24<\/a><\/strong>. As of April 2014, Pure Storage completed a $225 million round of funding that valued the company at a $3 billion valuation. The company claims to have the fastest growth in storage industry history<\/strong><\/a>.<\/p>\n

If Pure Storage prices at the high end of the range, $18.00,\u00a0 the company would be valued at $3.3 billion.<\/p>\n

The numbers behind ‘PSTG’ is what makes this company intriguing to investors.\u00a0 (Click to Expand)<\/p>\n

\"PSTGrevenue\"<\/a><\/p>\n

Revenues for Pure Storage are up 308% for fiscal 2015 as opposed to fiscal 2014 and 167% for the six months ended July 31, 2015 as opposed to July 31, 2014.\u00a0 The company, however, is towing considerable net losses behind its growth. (Click to Expand)<\/p>\n

\"PSTGrevenue2real\"<\/a>Fiscal year 2015 losses extend to $183.2 million as opposed to $78.6 million the prior year — an increase of 133%.<\/p>\n

The company is hoping that the public will jump on the growth story and that the losses will be able to come in a bit once the company’s streamlines the manufacturing process and further implements strengthening to their SG&A expenses.<\/p>\n

The high-profile nature of the deal has notable VC backers on the roster.\u00a0 Greylock, Sutter Hill Ventures and RedPoint Ventures will own 17.0%, 27.0% and 5.6% of the Class B shares at the conclusion of this 25 million share offering.<\/p>\n

Morgan Stanley, Goldman Sachs, Barclays, Allen & Co., BofA Merrill Lynch are all acting as book runners on the deal with Pacific Crest Securities, Stifel, Raymond James, Evercore ISI listed at co-managers.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

An IPO rumored for weeks, Pure Storage (NYSE: PSTG), set terms on Thursday morning for a deal that is set to debut on October 7. Pure Storage transforms business through a dramatic increase in performance and reduction in complexity and costs. Their innovative technology replaces storage systems designed for mechanical disk with all-flash systems optimized[…]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24],"tags":[606,636],"class_list":["post-892","post","type-post","status-publish","format-standard","hentry","category-ipo","tag-pstg","tag-pure-storage"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=892"}],"version-history":[{"count":3,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/892\/revisions"}],"predecessor-version":[{"id":898,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/892\/revisions\/898"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}