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Rubrik IPO, a primer

Rubrik IPO

Palo Alto, California-based Rubrik, founded in 2014 by Bipul Sinha, Soham Mazumdar, Arvind Jain, and Arvind Nithrakashyap, revolutionized data management and protection. Its cloud-based platform offers data backup, recovery, and analytics, drawing significant venture capital. The company quickly gained prominence for its innovative approach, securing partnerships with tech giants like Microsoft. Rubrik’s growth trajectory led to a substantial funding, valuing it at billions, and setting the stage for an anticipated IPO, a testament to its impact in cloud data management and cybersecurity.

Rubrik  specializes in cloud data management and enterprise backup software. It provides a platform for data protection, search, analytics, archival, and copy data management. The company’s products are designed to simplify backup and recovery, accelerate cloud adoption, and enable automation at scale. Rubrik’s solutions are typically used by organizations to protect their data across cloud, virtual, and physical environments, and to manage data more effectively for disaster recovery, compliance, and other purposes. The company has been recognized for its innovative approach to data management and has become a significant player in the enterprise technology space.

Rubrik  is preparing for an IPO potentially this year, with its investor roadshow possibly starting in October. The IPO could raise $500 to $700 million, but these details are subject to change based on market conditions. The company recently briefed analysts on its operations for growth analysis. The company, valued at $4 billion after Microsoft’s investment in 2021, has added several banks to its underwriting team. Rubrik’s IPO is part of a group of significant tech IPOs anticipated in the coming months.

Some, however, speculate that Rubrik has pushed its plans to 2024. This decision seems influenced by the negative reception of the Birkenstock IPO and geopolitical events such as the eruption of violence in Israel​​.

As of June 2023, Rubrik had engaged Goldman Sachs, Barclays Plc, and Citigroup Inc as underwriters for its IPO. However, a specific public stock price is not available yet since Rubrik remains a private company. The stock price for private companies can be gleaned from pre-IPO marketplace data and other sources, but it’s important to note that the stock price is just one aspect of a company’s value, with factors like underlying valuation metrics, revenue, profitability, and market sentiment being more significant​​.

Regarding the stock symbol, once Rubrik officially files for an IPO, its stock symbol or ticker will be announced, typically in the company’s first SEC S-1 filings. Some speculated tickers for Rubrik include RBRK, RUBK, RBK, RBIK, RU, and RUB​​.

There’s also speculation about whether Microsoft, which has a strategic partnership with Rubrik, might acquire the company. Microsoft’s investment in Rubrik has been reported as being in the “low tens of millions,” but this doesn’t give Microsoft a large voting stake. So, while Microsoft could potentially acquire Rubrik, nothing definitive has been announced​​.

For investors interested in acquiring Rubrik stock before its IPO, it may become available on pre-IPO investing platforms. However, to purchase pre-IPO shares, investors must be accredited, meaning they need a net worth above $1 million (excluding their primary residence) or an income above $200,000 (or $300,000 with a spouse). Availability of such stocks varies among pre-IPO platforms​​.

Once the Rubrik IPO occurs, the typical route for most investors to acquire stock will be to buy shares after it goes public. However, savvy investors might find opportunities to invest during the IPO through brokers that offer IPO access, such as TradeStation, SoFi, and Robinhood. These platforms have started offering IPO access to retail investors, even those with low account balances​​.

In summary, while the Rubrik IPO is anticipated, the exact timing and details are still evolving, and potential investors should keep an eye on the developments and be aware of the requirements and opportunities for investing pre- and post-IPO.

Rubrik competitors

Rubrik, known for its cloud data management and cybersecurity solutions, faces competition from several companies in the industry. Some notable competitors include:

  1. Cohesity: Similar to Rubrik, Cohesity offers data management solutions that focus on data backup, recovery, and analytics across cloud and on-premises environments. (Click here to learn about the Cohesity IPO).
  2. Veeam Software: Veeam provides backup, disaster recovery, and intelligent data management software for virtual, physical, and multi-cloud infrastructures, making it a direct competitor in the data protection and management space.
  3. Commvault: This company offers data protection and information management software to help organizations manage, access, and protect their data.
  4. Veritas Technologies: Known for its backup and recovery software, Veritas provides a range of data management solutions that include multi-cloud data management, data protection, storage optimization, compliance readiness, and workload portability.
  5. Dell EMC: The Dell EMC division offers a wide range of products for data storage, information security, virtualization, analytics, and cloud computing. Their data protection solutions directly compete with Rubrik’s offerings.
  6. Acronis: Specializing in backup, disaster recovery, and secure file sync and share solutions, Acronis provides services that overlap with those offered by Rubrik.
  7. NetApp: While primarily known for its storage solutions, NetApp also offers data protection and management services that compete in the same market as Rubrik.

These companies are key players in the data management and cybersecurity fields, offering products and services that overlap with Rubrik’s offerings. The competitive landscape in this sector is dynamic, with companies continually evolving their offerings to meet the changing needs of businesses in the digital age.

 

 

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