Rubrik CEO says he's hungry as ever, while the Microsoft-backed firm sizzles on IPO day

Yahoo Finance04-26

The roadshow pitch from Rubrik (RBRK) ahead of its Thursday IPO: In the fast-paced world of AI, we can protect data — and eventually make a load of money doing it. Said pitch worked. Rubrik stock ...

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The stock opened for trading at $38.60.It was just this January when Rubrik — which Microsoft  has invested in since 2021 — raised a Series E round that valued the company at $3.3 billion. That round was led by Bain, Lightspeed Venture Partners, Greylock, and Khosla Ventures. The firm was valued at around $1.8 billion in a prior 2017 raise.\"Profits are paramount,\" Si","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","RDDT":"Reddit","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0171293334.USD":"贝莱德英国基金A2","NYSE":"纽交所","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","BK4538":"云计算","NTNX":"Nutanix Inc.","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","MSFT":"微软","BK4535":"淡马锡持仓","ORCL":"甲骨文","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4534":"瑞士信贷持仓","RBRK":"Rubrik Inc.","GOOG":"谷歌","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","NET":"Cloudflare, Inc.","GOOGL":"谷歌A","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0068578508.USD":"First Eagle Amundi International Cl AU-C USD","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0109392836.USD":"富兰克林科技股A","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","IBM":"IBM","BK4503":"景林资产持仓","LU0109391861.USD":"富兰克林美国机遇基金A Acc","BK4527":"明星科技股","BK4532":"文艺复兴科技持仓","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","BK4097":"系统软件","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","CRWD":"CrowdStrike Holdings, Inc."},"translate_title":"Rubrik首席执行官表示，他一如既往地饥肠辘辘，而微软支持的公司在IPO日炙手可热","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RBRK":1,"ORCL":1,"NYSE":1,"NTNX":1,"MSFT":1,"IBM":1,"RDDT":0.9,"NET":0.9,"CRWD":0.9,"GOOG":0.9,"GOOGL":0.9},"content_text":"The roadshow pitch from Rubrik (RBRK) ahead of its Thursday IPO: In the fast-paced world of AI, we can protect data — and eventually make a load of money doing it. \nSaid pitch worked.\nRubrik stock surged 17% to $37 by the close of a rocky day on Wall Street, a sizzling response to another AI ecosystem play, similar to the appetite for Reddit's (RDDT) newly issued shares just a few weeks earlier. \n\"We were preparing for this moment for several years, and the market was receptive,\" Rubrik co-founder, chairman, and CEO Bipul Sinha told Yahoo Finance (video above). \nShares of the cybersecurity firm were priced late Wednesday at $32, above the high-end of their expected range. The stock opened for trading at $38.60.\nThe upsized IPO hauled in $752 million for Rubrik's expansion plans, initially valuing the company at $5.6 billion. \nIt was just this January when Rubrik — which Microsoft (MSFT) has invested in since 2021 — raised a Series E round that valued the company at $3.3 billion. That round was led by Bain, Lightspeed Venture Partners, Greylock, and Khosla Ventures. The firm was valued at around $1.8 billion in a prior 2017 raise. \n\"The company is one to watch,\" an early Rubrik investor told Yahoo Finance. \n\n\n\n  Bipul Sinha, CEO, Chairman & Co-Founder of Rubrik Inc., the Microsoft-backed cybersecurity software startup, rings the opening bell during his company’s IPO at the New York Stock Exchange (NYSE) in New York City, on April 25, 2024. REUTERS/Brendan McDermid\n \n\n  REUTERS / Reuters\n \n\nA key part of Rubrik's selling point is its well-regarded tech exec, Sinha.\nThe former engineer has spent extensive time in the venture capital industry. As a partner at Lightspeed Venture Partners, Sinha put dollars behind names such as Nutanix (NTNX) and Pulse News. (Lightspeed is now a major shareholder in Rubrik, with about 24.9% of shares outstanding).\nHe has also held engineering positions at Oracle (ORCL) and IBM (IBM). \nSinha founded Rubrik in 2014, working in coffee shops by the offices of Google (GOOG, GOOGL) and YouTube in an effort to hire top developer talent. \nHe doesn't hide his modest upbringing, which has fueled his business building. \"Maximal thinking is how I lifted myself out of poverty,\" Sinha wrote in a letter in the company's IPO prospectus. \n\"He is the American Dream come true.\" Lightspeed Venture Partner's co-founder and partner Ravi Mhatre told Yahoo Finance.\nSinha said he remains as hungry as ever, despite the newfound attention around Rubrik and its future.\nWhile the cybersecurity market remains in growth mode, Rubrik does have to prove its worth to Wall Street. The company disclosed a loss of $354 million for the twelve months ending Jan. 31, 2024, despite subscription revenue rising 40% to $537.9 million. It posted a loss of $278 million for the twelve months ending Jan. 31, 2023. \nThe company noted in its prospectus that it has had losses in each period since its inception.\n\"Profits are paramount,\" Sinha acknowledged, though he declined to share a precise timeline on when those profits would appear on the balance sheet.\nBrian Sozzi is Yahoo Finance's Executive Editor. He is also the host of the 'Opening Bid' podcast. Follow Sozzi on Twitter/X @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com. Are you a CEO and want to come on Yahoo Finance Live? Email Brian Sozzi.\nClick here for the latest technology news that will impact the stock market.\nRead the latest financial and business news from Yahoo Finance","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430257764"}