Splunk IPO Raises $229.5m

US-based web analytics software provider Splunk has raised $229.5m in its initial public offering (IPO), which involved 13.5 million shares of common stock being sold at a price of $17 per share. The IPO's success means the company now has a market value of $1.57 billion.

Splunk software collects and indexes the massive amounts of machine data continuously generated by web sites, apps, servers, networks and mobile devices; helping organizations to monitor, analyze and act on real-time and historical data and gain both operational intelligence and business insight. Current clients include Facebook, Wal-Mart Stores, Bank of America, Harvard University, and the US Army.

Founded in 2004, San Francisco-based Splunk reported $121m of revenue in the fiscal year ending January 31, up 83% from the prior year period, while its net loss rose to $11m from $3.8m a year earlier as a result of increased spending on sales and marketing.

The company, which is backed by venture firms August Capital, JK&B Capital, Ignition Partners and Sevin Rosen Funds, is led by Godfrey Sullivan (pictured), who joined as CEO in 2008. It has 500 employees worldwide, with headquarters in San Francisco and eight offices around the world.

Web site: www.splunk.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.