CrowdStrike (CRWD) began trading on the Nasdaq on Wed 12 June 2019

CrowdStrike pops more than 70% in debut, now worth over $11 billion

• CrowdStrike opened its first day of trading on the Nasdaq with a share price of $63.50, surging from its IPO price of $34.
• The company provides cloud-based security software to companies like Amazon Web Services and Credit Suisse.
• CrowdStrike recorded a net loss of $140 million for the year ended Jan. 31, while revenue more than doubled to $249.8 million.
• The company is worth about as much as 37-year-old security software provider Symantec despite having about 5% as much revenue.
• In the business software market, CrowdStrike follows the debuts of Zoom and PagerDuty and comes just a head of Slack’s direct listing.

CrowdStrike, whose cloud-based technology is used to detect and prevent breaches, recorded a net loss of $140 million for the year ended Jan. 31, while revenue more than doubled to $249.8 million, according to the company’s prospectus.