Internet

Cloudflare comes for Cisco, Amazon, Google, Microsoft

At first we though of Cloudflare (NET) as an internet performance-management platform. But the company is more focused on security than pure performance. If you didn’t read our note on Fastly (FSLY) you probably should do that: Fastly Joins the New Enterprise SaaS Group.  Their value proposition is that they provide greater security, performance and…

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MOGU is Meh at Best

MOGU (NYSE: MOGU $12-14) is a deal that feels a little desperate even with bulge bracket bankers like Morgan Stanley and Credit Suisse. The only reason they probably think they can get it done is a commitment from JD.com (JD) to purchase a large chunk of the IPO. Last night they priced the deal at…

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Ask the Monkey

The much-anticipated SurveyMonkey ($SVMK) IPO is scheduled for tonight. The proposed price range remains $9-11. For a relatively small deal (13.5M shares) there are a lot of banks on the cover – 11 in all with JPM, Allen, and BofA leading the charge. Online surveys are a niche market but SurveyMonkey has emerged as a…

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The Eventbrite IPO

If you attend conferences, go to meetups or see local talent at smaller venues you have probably used Eventbrite (NYSE – $EB). Their IPO is scheduled for tonight (Wednesday) by Goldman, JPM, Allen and a few others. The proposed price range was just bumped up to $21 to $23/share. EB makes their money with ticket…

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The FarFetched IPO

Sometimes the title of an IPO note writes itself! 😉 FarFetch ($FTCH) is another online platform for “luxury goods” is preparing to test the IPO market this week. It’s a quality deal so it’ll get done. The question is what is the long-term potential for a company that provides online merchandising and sales. There’s been…

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Can Carbon Black Compete?

The information security market keeps growing as customers struggle to adapt to new threats and risks while maintaining a mass of existing technologies, solutions and practices. Companies have done fairly well protecting their networks but their ability to control the devices attaching to the network is limited. These “endpoints” must be made secure in order…

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Sizing up the Dropbox.

The Dropbox (DBX) IPO is well-trod ground at this point. The deal is expected to price on 3/22 and open for trading Friday, 3/23. The company raised the range to $18-20 so we are using the $19 mid-point in our analysis. To add to the general pomp and circumstance, Salesforce (CRM), stepped up to buy…

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Cloud Security with the Zscaler IPO

In case you haven’t noticed we’ve seen an acceleration of enterprise cloud adoption. Stocks like Nutanix (NTNX), Twilio (TWLO), MongoDB (MDB) and Okta (OKTA) have all taken off in the past few weeks on the back of improving fundamentals. The shift is captured in a quote overheard during an industry conversation – “large companies are…

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SendGrid (SEND) a developer-focused email platform.

There’s a growing class of “developer-focused” software infrastructure platforms. It all started with Amazon AWS but since then many companies have taken a similar approach to other areas of software. Other examples included Twilio (TWLO), Stripe (Private), Atlassian (TEAM), MuleSoft (MULE), and GitHub (Private). What distinguishes this type of company? Here’s our list: They can…

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Redfin ignores the elephants.

Redfin (RDFN $12-14) is planning to come public this week. The company is basically an online platform for residential real estate sales. Elephant #1: Zillow Anyone familiar with this space would know that it’s dominated by Zillow (ZG) which has been an active consolidator in the space (they acquired their main competitor Trulia in 2014).…

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