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DigitalOcean to build more clouds with $5b IPOINTL

DigitalOcean to build more clouds with $5b IPO

Not even the sky is the limit for DigitalOcean, which is aiming to go public in the US with a major IPO that could shoot its valuation to nearly $5b. The cloud computing company is planning to sell 16.5 million shares to the public, each priced between $44 and $47. Its official NYSE symbol will be “DOCN”.

This public offering has the potential to further DigitalOcean’s position in the cloud computing sphere, which is largely dominated by tech behemoths like Microsoft (MSFT) and Amazon (AMZN). Moreover, the IPO is a particularly happy event for the company’s private investors, who were recently paying a mere $10 per share — talk about a hefty return!

why it matters
DigitalOcean is not the only firm in the cloud computing industry to take advantage of the current upbeat IPO market (queue Kaltura). We’ve previously talked about how this type of “herd behavior” will only encourage other companies to join the IPO party.