Cloudera starts trading at $17.80, up 19% from IPO price
Cloudera started trading on the New York Stock Exchange this morning at $17.80 per share under the stock symbol $CLDR.
The big data company priced its IPO last night at $15 a share, above its original range of $12 to $14 per share. At that $15 price, the company is reportedly worth about $2 billion.
As we wrote last month, Cloudera’s big focus is Hadoop, “open source software for storing and processing lots of different kinds of data.” One of Cloudera’s key competitors, Hortonworks, went public way back in December 2014. Cloudera investors, however, are essentially betting the company won’t follow in Hortonworks’ footsteps — after early highs, Hortonworks has seen its value cut in half on the Nasdaq stock exchange amid continued losses.