Latest news with #Netskope
Business Insider
3 days ago
- Business
- Business Insider
Netskope taps Morgan Stanley for U.S. IPO, Reuters reports
Cybersecurity firm Netskope has hired Morgan Stanley (MS) to lead preparations for a U.S. initial public offering, according to a Reuters report by Echo Wang and Milana Vinn. Netskope is aiming to go public as early as the third quarter of this year, potentially raising over $500M with a valuation that could exceed $5B, sources indicated, though these plans are subject to market conditions. Founded in 2012, Netskope provides cloud-based security software, competes with firms like Rubrik (RBRK) and Zscaler (ZS), and was valued at $7.5B in 2021. CEO Sanjay Beri previously told Reuters in June 2024 that an IPO would help grow brand awareness for the company. Confident Investing Starts Here:
The Star
3 days ago
- Business
- The Star
Exclusive-Cybersecurity provider Netskope taps Morgan Stanley for US IPO, sources say
FILE PHOTO: The logo for Morgan Stanley is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly/File Photo NEW YORK (Reuters) -Cybersecurity firm Netskope has hired Morgan Stanley to lead preparations for a U.S. initial public offering that could raise more than $500 million, according to people familiar with the matter. Netskope is aiming to go public as early as the third quarter of this year, two of the sources said, with one of them and two further sources indicating the IPO could value the company at more than $5 billion. All the sources cautioned that factors including timing, valuation, and the amount the offering would raise are subject to market conditions. They also spoke on condition of anonymity to discuss confidential deliberations. Netskope did not respond to a comment request. Morgan Stanley declined to comment. Founded in 2012, Netskope provides cloud-based security software that helps companies protect apps, websites, and data from cyber threats. It competes with companies such as Rubrik Inc and Zscaler Inc. Santa Clara, California-based Netskope has been backed by investors including Morgan Stanley Tactical Value, CPP Investments, Goldman Sachs Asset Management, and the Ontario Teachers' Pension Plan. It was valued at $7.5 billion in 2021, although valuations of technology startups have broadly dropped since then. Among Netskope's clients include retailer Ross Stores Inc and Yamaha, according to its website. Chief Executive Sanjay Beri told Reuters in June 2024 that the company had been making internal preparations for an IPO, and going public would help grow awareness of its brand. Expectations for a strong rebound in U.S. IPO activity this year have been tempered by geopolitical tensions and economic uncertainty, including tariff-related concerns. Still, signs of market stabilization in recent weeks have offered companies and their advisers encouragement of a more robust IPO pipeline for the remainder of the year. Fintech firm Chime and trading platform eToro, which had postponed their IPOs amid market volatility triggered by new tariffs in April, have since moved forward with their listing plans. Meanwhile, shares of cybersecurity peer Rubrik have surged nearly 200% since their debut in April, boosting investor interest in the sector. (Reporting by Echo Wang and Milana Vinn in New YorkEditing by Nick Zieminski)
CNA
3 days ago
- Business
- CNA
Exclusive-Cybersecurity provider Netskope taps Morgan Stanley for US IPO, sources say
NEW YORK :Cybersecurity firm Netskope has hired Morgan Stanley to lead preparations for a U.S. initial public offering that could raise more than $500 million, according to people familiar with the matter. Netskope is aiming to go public as early as the third quarter of this year, two of the sources said, with one of them and two further sources indicating the IPO could value the company at more than $5 billion. All the sources cautioned that factors including timing, valuation, and the amount the offering would raise are subject to market conditions. They also spoke on condition of anonymity to discuss confidential deliberations. Netskope did not respond to a comment request. Morgan Stanley declined to comment. Founded in 2012, Netskope provides cloud-based security software that helps companies protect apps, websites, and data from cyber threats. It competes with companies such as Rubrik Inc and Zscaler Inc. Santa Clara, California-based Netskope has been backed by investors including Morgan Stanley Tactical Value, CPP Investments, Goldman Sachs Asset Management, and the Ontario Teachers' Pension Plan. It was valued at $7.5 billion in 2021, although valuations of technology startups have broadly dropped since then. Among Netskope's clients include retailer Ross Stores Inc and Yamaha, according to its website. Chief Executive Sanjay Beri told Reuters in June 2024 that the company had been making internal preparations for an IPO, and going public would help grow awareness of its brand. Expectations for a strong rebound in U.S. IPO activity this year have been tempered by geopolitical tensions and economic uncertainty, including tariff-related concerns. Still, signs of market stabilization in recent weeks have offered companies and their advisers encouragement of a more robust IPO pipeline for the remainder of the year. Fintech firm Chime and trading platform eToro, which had postponed their IPOs amid market volatility triggered by new tariffs in April, have since moved forward with their listing plans. Meanwhile, shares of cybersecurity peer Rubrik have surged nearly 200 per cent since their debut in April, boosting investor interest in the sector.
Reuters
3 days ago
- Business
- Reuters
Exclusive: Cybersecurity provider Netskope taps Morgan Stanley for US IPO, sources say
NEW YORK, May 28 (Reuters) - Cybersecurity firm Netskope has hired Morgan Stanley (MS.N), opens new tab to lead preparations for a U.S. initial public offering that could raise more than $500 million, according to people familiar with the matter. Netskope is aiming to go public as early as the third quarter of this year, two of the sources said, with one of them and two further sources indicating the IPO could value the company at more than $5 billion. All the sources cautioned that factors including timing, valuation, and the amount the offering would raise are subject to market conditions. They also spoke on condition of anonymity to discuss confidential deliberations. Netskope did not respond to a comment request. Morgan Stanley declined to comment. Founded in 2012, Netskope provides cloud-based security software that helps companies protect apps, websites, and data from cyber threats. It competes with companies such as Rubrik Inc (RBRK.N), opens new tab and Zscaler Inc (ZS.O), opens new tab. Santa Clara, California-based Netskope has been backed by investors including Morgan Stanley Tactical Value, CPP Investments, Goldman Sachs Asset Management, and the Ontario Teachers' Pension Plan. It was valued at $7.5 billion in 2021, although valuations of technology startups have broadly dropped since then. Among Netskope's clients include retailer Ross Stores Inc (ROST.O), opens new tab and Yamaha, according to its website. Chief Executive Sanjay Beri told Reuters in June 2024 that the company had been making internal preparations for an IPO, and going public would help grow awareness of its brand. Expectations for a strong rebound in U.S. IPO activity this year have been tempered by geopolitical tensions and economic uncertainty, including tariff-related concerns. Still, signs of market stabilization in recent weeks have offered companies and their advisers encouragement of a more robust IPO pipeline for the remainder of the year. Fintech firm Chime and trading platform eToro, which had postponed their IPOs amid market volatility triggered by new tariffs in April, have since moved forward with their listing plans. Meanwhile, shares of cybersecurity peer Rubrik have surged nearly 200% since their debut in April, boosting investor interest in the sector.
Yahoo
3 days ago
- Business
- Yahoo
Exclusive-Cybersecurity provider Netskope taps Morgan Stanley for US IPO, sources say
By Echo Wang and Milana Vinn NEW YORK (Reuters) -Cybersecurity firm Netskope has hired Morgan Stanley to lead preparations for a U.S. initial public offering that could raise more than $500 million, according to people familiar with the matter. Netskope is aiming to go public as early as the third quarter of this year, two of the sources said, with one of them and two further sources indicating the IPO could value the company at more than $5 billion. All the sources cautioned that factors including timing, valuation, and the amount the offering would raise are subject to market conditions. They also spoke on condition of anonymity to discuss confidential deliberations. Netskope did not respond to a comment request. Morgan Stanley declined to comment. Founded in 2012, Netskope provides cloud-based security software that helps companies protect apps, websites, and data from cyber threats. It competes with companies such as Rubrik Inc and Zscaler Inc. Santa Clara, California-based Netskope has been backed by investors including Morgan Stanley Tactical Value, CPP Investments, Goldman Sachs Asset Management, and the Ontario Teachers' Pension Plan. It was valued at $7.5 billion in 2021, although valuations of technology startups have broadly dropped since then. Among Netskope's clients include retailer Ross Stores Inc and Yamaha, according to its website. Chief Executive Sanjay Beri told Reuters in June 2024 that the company had been making internal preparations for an IPO, and going public would help grow awareness of its brand. Expectations for a strong rebound in U.S. IPO activity this year have been tempered by geopolitical tensions and economic uncertainty, including tariff-related concerns. Still, signs of market stabilization in recent weeks have offered companies and their advisers encouragement of a more robust IPO pipeline for the remainder of the year. Fintech firm Chime and trading platform eToro, which had postponed their IPOs amid market volatility triggered by new tariffs in April, have since moved forward with their listing plans. Meanwhile, shares of cybersecurity peer Rubrik have surged nearly 200% since their debut in April, boosting investor interest in the sector. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
