Pure Storage Prepares For IPO

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Insider source says Morgan Stanley, Goldman Sachs and Barclays involved in Pure Storage IPO which could be set for later this year

Pure Storage, provider of flash-based storage products, is preparing for its initial public offering.

Reuters reported on Easter Monday that the company has hired underwriters, but Pure Storage has declined to comment on the matter. The source said that investment banks Morgan Stanley, Goldman Sachs and Barclays will be involved.

$3 billion

In April 2014, Pure Storage was valued at $3 billion.

In March, whilst not disclosing sales figures, Pure Storage said that it has increased its revenue by 300 percent for the year ending January 2015.

pure storageCEO Scott Dietzen said that his company is “reshaping” enterprise data storage.

“Our success this past year is the result of the business transformation we provide customers – making them faster, more efficient and more effective, while simultaneously cutting costs,” Dietzen said.

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