- Confluent Inc (NASDAQ:CFLT) raised around $828 million in its U.S. initial public offering, selling 23 million shares at $36 per share.
- The data infrastructure software maker previously marketed the IPO between $29 – $33, Bloomberg reports.
- The shares are likely to begin trading today on the Nasdaq under the symbol “CFLT.”
- Confluent had a diluted valuation close to $12 billion. Confluent was last valued at $4.5 billion in a 2020 funding round.
- Confluent has over 2,500 customers, which use its platform to organize and manage data.
- Benchmark Capital, Index Ventures and Sequoia Capital, Kreps, and Rao are its significant shareholders.
- Confluent reported a net loss of $44.5 million on revenue of $77 million in Q1 FY21 compared to a $33.6 million loss on $51 million in Q1 FY20.
- Morgan Stanley (NASDAQ: MS), JPMorgan Chase & Co (NASDAQ: JPM), and Goldman Sachs Group Inc (NASDAQ: GS) led the IPO.
Credit Suisse Maintains Neutral on Tesla, Raises Price Target to $830
Credit Suisse analyst Dan Levy maintains Tesla (NASDAQ:TSLA) with a Neutral and raises the price target from $800 to $830.
