Cloudera ends first day of trading with $2.3 billion market cap, 44% lower than 2014 valuation

 Cloudera ends first day of trading with $2.3 billion market cap, 44% lower than 2014 valuation

Open source big data company Cloudera is now, finally, a public company. Today the company traded for the first time on the New York Stock Exchange (NYSE), after filing to go public last month.

In 2014, when Intel made a major investment in Cloudera, the latter was reported to boast a $ 4.1 billion valuation. Other investors include Greylock Partners and Accel Partners.

Today, after the New York Stock Exchange (NYSE) closed, the company’s stock price settled at $ 18.10 — up 1.7 percent from today’s $ 17.80 opening price — giving the company a $ 2.3 billion market cap.

In other words, investors think the company is worth a bit more than half what other investors did three years back, when the company was bringing in considerably less revenue.

The 9-year-old company originally focused on outdoing startups in the then-burgeoning big data category — particularly emphasizing the Hadoop collection of open-source software for storing and processing lots of different kinds of data — and has increasingly targeted database software and cloud service providers. Competitors include Amazon Web Services (AWS), Databricks, Hortonworks, IBM, MapR, Microsoft, Oracle, and among others.

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Big Data – VentureBeat