Rubrik, a cloud data security management software company, made its debut on the New York Stock Exchange last Thursday night under the ticker symbol RBRK. The latest stock price stands at $38.0 per share, up from IPO price of $32, with a market capitalization of $6.7 billion.
A significant shareholder of Rubrik is Microsoft, which has been investing in the company since 2021. CEO and co-founder Bipul Sinha holds an 8% stake. Despite a net loss of $354 million in the past year, 91% of the revenue came from subscription sales.
This year, IP technology companies are increasingly going public in the United States. Reddit and Astera Labs were among the recent listings alongside Rubrik.
Source: CNBC
TLDR: Rubrik, a cloud data security company, went public on NYSE as RBRK with a stock price of $38.0 per share, backed by Microsoft and CEO Bipul Sinha. Despite losses, the company relies heavily on subscription revenue. The tech IPO trend is evidenced by recent listings like Reddit and Astera Labs.
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