Haim Zaltzman’s Post

This morning I took my usual stroll to work down Wall Street and past a crowd of excited well-dressed individuals eagerly waiting for their colleagues to ring the opening bell at the #NewYorkStockExchange. This giddy bunch dressed to the nines were employees and investors of Microsoft-backed data-management software company Rubrik, and today marked the culmination of 10 long years of work for many of them. I imagine their excitement only grew as Rubrik's #IPO outperformed its expected range in its NYSE debut, and raised $752 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 through the sale of 23.5 million shares at a price of $32/share (the expected pricing was from $28 to $31/share), setting its valuation at a whopping $5.6 𝐛𝐢𝐥𝐥𝐢𝐨𝐧. This is a big win for Silicon Valley and venture-backed tech IPOs, a market that has been almost nonexistent for the past 24 months, with most companies erring on the side of caution and staying private because of high rates and market uncertainty. You can't bring another 2024 megadeal like this home without top tier legal talent though. Representing Rubrik were the tech savants at Cooley LLP, while the #capitalmarkets rockstars at Latham & Watkins advised the underwriters. Don't look now... but is #tech back??

Another Artisanal Talent client going public soon. We had competitors planting the wrong people at the wrong time for years, and a surgical approach was in order to make sure new key players were the exact fit at the exact right time. Helping them re-tool for IPO readiness was a complete blast. This is why we exist. To help Founders build towards real success, as in, the holy grail of public markets! Go Rubrik!!! Love the people and Board and execution and story arc. Lead on! Breaking the IPO market open! https://lnkd.in/g_GHxkqj

🌟 Delving into Rubrik's IPO Journey 💼 Rubrik Inc., a prominent cloud and data security startup, takes a bold step towards its IPO. Here's my personal take on this development: 📈 I'm intrigued by Rubrik's filing for an IPO, backed by industry giants like Microsoft Corp. and led by financial heavyweights including Goldman Sachs Group Inc. and Barclays Plc. It reflects a significant milestone in Rubrik's growth trajectory. 💰 I believe Rubrik's decision to list on the New York Stock Exchange under the symbol RBRK speaks volumes about its confidence in the market and its own potential. The anticipated offering size of $500 million to $700 million underscores investor interest in the tech sector. 💡 Rubrik's strategic partnership with Microsoft and its commitment to leveraging Azure for data security solutions demonstrate forward-thinking and innovation. This aligns with my belief in the power of collaboration and leveraging cutting-edge technologies. 🤝 Founders Bipul Sinha and Arvind Nithrakashyap's significant stakes in the company highlight their unwavering belief in Rubrik's vision. Their dedication and leadership are commendable and bode well for the company's future success. In my opinion, Rubrik's IPO filing marks an exciting chapter in its journey, signaling growth, innovation, and opportunity. I'm eager to see how this unfolds and will be closely following Rubrik's progress. Stay tuned for more insights and updates! #Rubrik #IPO #Tech #Finance #NYSE #Nasdaq #Microcap #Investing Learn more: https://lnkd.in/d7y-WKTd

📈 Market Watch Alert: Rubrik's IPO Draws Massive Interest 🚀 In an unprecedented display of investor enthusiasm, Rubrik Inc., a cutting-edge cloud and data security startup backed by tech giant Microsoft., has reportedly attracted nearly 20 times the number of orders compared to the available shares for its upcoming initial public offering. This information comes from sources close to the matter, who chose to remain anonymous as the details have not been made public. As the clock ticked down to the 4 p.m. deadline on Tuesday in New York, the buzz around Rubrik's IPO intensified. The company aims to raise up to $713 million, offering 23 million shares priced between $28 and $31. At the upper limit, this would value Rubrik at approximately $5.4 billion, signaling strong market confidence reminiscent of the recent IPO frenzy around digital marketing firm Ibotta Inc., which also saw orders surpass available shares by over 20 times. Rubrik's over-subscription mirrors a growing investor appetite for innovative tech stocks, with Ibotta's example showing a potential for significant pricing power—its shares were eventually priced $4 above the high end, expanding their offering by nearly 17%. Scheduled for pricing on Wednesday and trading on Thursday under the NYSE symbol RBRK, Rubrik's IPO is being spearheaded by financial heavyweights including Goldman Sachs, Barclays, Citi, and Wells Fargo. As the tech community and investors alike watch closely, Rubrik stands on the precipice of a market debut that could redefine expectations for security-focused tech enterprises in the bustling IPO landscape! #RubrikIPO #TechNews #IPOWatch #NYSE #CloudSecurity #DataSecurity #MarketTrends #InvestmentOpportunity #TechStocks #MicrosoftBacked

🚀 𝐑𝐮𝐛𝐫𝐢𝐤 𝐌𝐚𝐤𝐞𝐬 𝐒𝐭𝐫𝐨𝐧𝐠 𝐍𝐘𝐒𝐄 𝐃𝐞𝐛𝐮𝐭 📈 Silicon Valley-based, cyber security company Rubrik began trading on the NYSE, with its shares surging by 21% above its IPO price, increasing its valuation to $6.77 billion. 💰 𝐒𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥 𝐈𝐏𝐎: Rubrik priced its IPO at $32 per share, raising $752 million at a valuation of $5.6 billion, surpassing its expected range. 🔐 𝐂𝐥𝐨𝐮𝐝-𝐁𝐚𝐬𝐞𝐝 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: Microsoft-backed, Rubrik sells cloud-based security software to enterprise customers, boasting a strong customer base and significant revenue from subscriptions. With a clientele boasting over 6,100 customers, including industry giants like Whirlpool, PepsiCo, and Goldman Sachs, Rubrik has solidified its position as a trusted data security partner. 🤝 𝐕𝐂 𝐁𝐚𝐜𝐤𝐢𝐧𝐠: Notable venture capital firms like Lightspeed, Greylock, Khosla Ventures, IVP,and Bain Capital Ventures. 📈 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞: Despite widening losses, Rubrik's subscription revenue shows promising growth, contributing to investor confidence. In its most recent fiscal quarter, subscriptions made up 91% of revenue, up from 73% a year prior. 💡 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤: Rubrik's successful IPO signals a potential resurgence in the IPO market, with other tech companies eyeing public listings amidst positive market sentiment. While under scrutiny due to its unprofitability, Rubrik's subscription revenue growth offers optimism for its future prospects. #SiliconValley #Rubrik #IPO #NYSE #Tech #CloudSecurity #VentureCapital #DataManagement https://lnkd.in/dAfMkYRP

Momentum continues to build in capital raising! Yesterday was an exciting day for the NYSE as Rubrik, backed by Microsoft, saw its IPO oversubscribed by 20 times—a testament that investor sentiment continues to turn positive! With investors starting to re-engage after a lengthy quiet period, now is the time to get your capital-raising plans in place. Using Issuance's seamless investing UI/UX and issuer-friendly pricing, you can raise capital into a pre-IPO round with ease. Make it easy for your investors to invest with our Equity Made Easy solution. And with the launch of our Reg D 506(b) product, our platform is no longer limited to start-ups - now funds, deal syndicators, and other companies conducting traditional private placements can use Issuance to power their capital raise! Schedule a demo here: https://lnkd.in/gJnmUPjT Discover more about this significant IPO event at https://lnkd.in/g94fAUc2 #RubrikIPO #MarketRevolution #AccessToCapital #Issuance #EquityMadeEasy

RUBRIK - IPO Public Flip - Silicon Valley! Silicon Valley Business Journal Article April 2, 2024 Congratulations to RUBRIK team #rubrik and to KPMG audit team (#kpmgsiliconvalley)! Article summary (Microsoft BING AI system): IPO Filing: Rubrik Inc. has filed for an initial public offering (IPO), joining other venture capital-backed companies as the IPO market shows signs of activity. Company Growth: With a workforce that has grown to 1,070 employees, Rubrik is aiming for a valuation between $6.5 billion and plans to sell $500 million to $700 million worth of shares. Financials: Despite a promising outlook, Rubrik reported a net loss of $354 million as of January 31, which is an increase from the previous year’s $278 million loss. However, their annual recurring revenue grew by 47%. DOJ Probe: The company is currently addressing a probe by the Department of Justice related to a former employee who allegedly misdirected funds from contracts worth $46 million. Rubrik, established in 2014, offers cloud-based network and endpoint security and has raised $1.18 billion in funding. It serves over 5,000 businesses, including high-profile clients like Nvidia Corp. and Adobe Inc. The cybersecurity industry, where Rubrik operates, is expected to grow significantly, reaching over $273 billion in annual revenue by 2028. #ipo #ipos #capitalmarkets #goingpublic #capitalraise #technologymarket #cloud #kpmgsiliconvalley

I've been thinking about who makes it into the "Hall of Fame" for Utah tech founder CEOs. My list so far: Ryan Smith - Qualtrics (largest Utah tech exit + Huge IPO) Aaron Skonnard - Pluralsight (Massive IPO + Vista acquisition) Blake Murray - Divvy ($2.5B outcome in ~4 years) Josh Coates - Instructure (Successful IPO $3.6B market cap today) Josh James - Omniture + Domo (Largest exit at the time + IPO) TJ Parker - Pillpack (~$750M to Amazon in the DTC space) Todd Pedersen Vivint Smart Home + Solar (Big IPOs + acquisitions) Tons more folks are going to be on the list when it's all said done like: Melanie Alder + David Wright - Pattern Ryan Porter - Liveview technologies Curtis Anderson - Nursa + about 2 dozen others So many create people and businesses. Who did I miss for the current/future "Hall of Fame"?

🌟💡 Unleashing the Untapped Potential of Going Public 💡🌟 Picture this: a company standing on the precipice of a new era, ready to leap into the public domain. It's not just about ringing the bell; it's about igniting a spark that electrifies every corner of the organization! 🎇⚡ 🧩 Piecing Together the Puzzle When a company embarks on the IPO journey, it's like handing out puzzle pieces to every employee. Suddenly, everyone sees how their role fits into the grand design, creating a mosaic of shared purpose and direction. 🎨🧩 🌉 Building Bridges of Transparency Imagine a workplace where the walls are made of glass, and everyone has a front-row seat to the IPO process. By sharing the journey, a company forges bonds of trust and engagement that span from the mailroom to the C-suite. 🤝🌉 🎡 The Thrill of the Ride Sure, opening up comes with its fair share of risks and responsibilities. But like any great adventure, the challenges make the triumph all the sweeter. It's a wild ride that shapes a company's character and creates stories that will be told for years to come. 🎢📚 🧲 Attracting the Trailblazers When a company dares to go public, it sends out a clarion call to the rebels, the innovators, the game-changers. It's like a secret handshake that says, "If you're ready to make history, this is where you belong." 🤝🚀 So, when you hear those three letters—IPO—think beyond the ticker symbol. It's a launchpad for unity, a catalyst for transparency, and a magnet for the visionaries who will shape the future. 🌌💫 #EmbracingTheIPO #UnlockingPotential #SharedPurpose #RadicalTransparency #ThrillOfTheJourney #GameChangerMagnet #LaunchpadForUnity #CatalystForChange #VisionsOfGreatness #RebelliousSpirit #InnovationIgnited #CharacterBuilding #SecretHandshake #HistoryInTheMaking #BeyondTheTicker

Excited to track Rubrik today. More tech IPOs is always a good thing for our ecosystem. Growing ARR on a small base is so much easier than a larger base. I love it when early-stage tech companies talk about 300%+ YoY revenue growth. $784m ARR up 47% from 2023. Really impressive. The Rubrik IPO is a great public comp and probably a reality check for many late-stage private tech companies. ~$5.6bn valuation on an ARR base of $784m.