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Cyan Inc Files For $75 Million IPO-Silicon Valley/San Jose Business Journal Online

Saturday, 6 Apr 2013 08:00pm EDT 

Silicon Valley/San Jose Business Journal Online reported that Cyan Inc is filing its intent to raise up to $75 million. The Petaluma company led by founder and President Mike Hatfield said that its revenue has nearly quadrupled in the past three years to $95.9 million in 2012, when it posted a net loss of $16.6 million. Hatfield previously started Calix and co-founded Cerent Corp. The latter was sold to Cisco Systems in 1999 for $7.3 billion. It has raised more than $30 million in venture backing since it was founded in 2006 and its investors include Focus Ventures, Tenaya Capital, Azure Capital Partners and Norwest Venture Partners. The Company plans to list on the New York Stock Exchange with the symbol of CYNI. Goldman, Sachs and Co. and J.P. Morgan Securities are acting as lead managers for the proposed offering, according to a news release. 

Company Quote

-0.1 -2.94%
22 Sep 2014