In the latest fiscal year, Rubrik's net loss widened to $354.2 million from $277.7 million a year earlier.to go public on Monday, the latest venture-backed company to make moves toward the public market after an extended lull dating back to late 2021.selling hardware that companies could use to back up their data in a modernized fashion relative to traditional players in the space.
Following a dry spell that lasted over two years, the IPO market is showing signs of life in recent weeks. In March, social media companyin September 2023, but those deals received tepid responses on Wall Street and failed to crack open the window. After a record IPO year in 2021, soaring inflation and rising interest rates pushed investors out of tech and other risky assets, leading to a drying up in tech investing in the public and private markets.
Like Reddit, Rubrik will hold a directed share program to offer IPO shares to certain partners, friends and family members. Rubrik had 3,100 employees and 6,100 clients as of January. The company counted on three channel partners — Arrow Enterprise Computing Solutions, Exclusive Networks and Promark Technology — for 76% of its revenue in the latest fiscal year.Flying cars — or eVTOLs — are becoming reality. Would you ride in one?