Categories: Data Storage

Pure Storage Prepares For IPO

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.

CEO 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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Ben Sullivan

Ben covers web and technology giants such as Google, Amazon, and Microsoft and their impact on the cloud computing industry, whilst also writing about data centre players and their increasing importance in Europe. He also covers future technologies such as drones, aerospace, science, and the effect of technology on the environment.

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