Wednesday, October 24, 2018

Cloudflare, Backed By Qualcomm Ventures, Eyes IPO

San Francisco-based Cloudflare, which provides a service which helps web site and web application developers manage caching and access to their websites, protecting against cyberattacks, distributed denial of service (DDoS)--and which is backed by Qualcomm--is heading towards an IPO. Reports from Reuters say that Cloudflare has hired Goldman Sachs to lead its IPO, which will value the company at more than $3.5 billion. It's unclear how big of a take that Qualcomm Ventures has in Cloudflare, after it joined Fidelity, Google, Microsoft, and Baidu in backing Cloudflare in a strategic investment round in September of 2015. Cloudflare's investors include Fidelity, Google, Microsoft, Qualcomm, and Baidu, along with Union Square Ventures, Greenspring, New Enterprise Associates, Pelion Venture Partners, and Venrock, among others. Qualcomm is based in San Diego.

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