(Reuters) – Confluent Inc, a real-time event streaming platform, on Tuesday made public its plans for a stock market flotation, in what has been a busy year for new issues in the United States.
Mountain View, California-based Confluent, which had confidentially filed to go public in April, said its revenue jumped about 58% in 2020 and 51% to $77 million in the three months ended March 31. https://bit.ly/3g36w61
Confluent said it had 561 customers with $100,000 or greater in annual recurring revenue as of March 31, representing a 50% increase from a year earlier.
Some of its high-profile customers include apparel chain Urban Outfitters Inc, tyre maker Michelin and Wall Street giant Morgan Stanley.
Confluent intends to list on Nasdaq under the symbol “CFLT”. Goldman Sachs, JP Morgan, Citigroup and BofA Securities are among its underwriters.
Investors in Confluent include venture capital firms Sequoia Capital and Index Ventures. It was valued at $4.5 billion in April 2020, according to PitchBook.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Anil D’Silva)
