It’s been awfully quiet down on Wall Street. Last year, by the end of the third quarter, there had been 170 initial public offerings. This year, the total will be just 77.
But with Nutanix, set to go public on Sep. 30, investors see a potential shifting of the tides. The San Jose, Calif.-based unicorn, founded and led by Oracle alum Dheeraj Pandey, has become one of Silicon Valley’s fastest-growing data storage companies. Its patented technology adds a layer of intelligence to data center operations, allowing enterprise customers to quickly scale cloud capacity as needed and optimize performance across servers.
Nutanix had filed for an IPO at the end of last year, but postponed the offering. Its debut on the Nasdaq exchange is expected to raise upwards of $200 million.
If the company trades at $13, the high end of the range for the 14 million shares it plans to sell, it will be worth $1.8 billion.