Cloudera Sets Sights on IPO as Hadoop Adoption Explodes
Cloudera is apparently mulling a run at an IPO, according to Bloomberg, having filed recent paperwork with U.S. SEC. Since being founded in 2008, Cloudera has raised more than a billion dollars in equity funding. They’ve been backed by some of the top investors in the world, including T. Rowe Price and most notably Intel Capital. The Big Data solution provider offers tools and services that work on the Hadoop platform, an open source framework that is seeing increased adoption in the enterprise for processing large stores of data.
According to market research firm Research and Markets, the global Hadoop sector is expected to garner revenue of $84.6 billion by 2021. Additionally, MarketsandMarkets says that market growth will be driven primarily by increased demand for Hadoop deployment on top of Big Data and and Business Intelligence tools for analyzing rapidly expansive data volumes.
Per Bloomberg, Cloudera is said to be working with Morgan Stanley, JPMorgan Chase & Co. and Bank of America on the IPO, and is working toward a valuation of $4.1 billion.
Cloudera made waves recently with the release of their Data Science Workbench, a self-service environment for data science. Data Science Workbench enables data scientists to use their favorite open source languages — including R, Python, and Scala — and libraries on a secure enterprise platform with native Apache Spark and Apache Hadoop integration.