In the cloud auto-scaling servers die as quickly as they’re spawned, and containers come and go with even greater frequency
Cloud log management specialist DataDog rebuffed a $7 billion-plus offer from Cisco prior to its IPO this week, Bloomberg reports, as the New York-based company sold $24 million shares Wednesday for $27 each, raising it $648 million.
The company, which now trades as DDOG on the Nasdaq exchange; the latest in a flurry of tech IPOs, felt it would be worth more as a public company over time, Bloomberg reported today, citing unnamed officials.
At the offer price, Datadog commands a market cap of a notable $7.8 billion.
If you told me 10 years ago you could build a $7B monitoring business from the ground up I'd have laughed in your face. https://t.co/6XhU74yUxl
— Asim Aslam (@chuhnk) September 19, 2019
DataDog has been among the month’s closely watched flurry of IPOs (see also Cloudflare, Ping Identity (which raised $188 million by offering 12.5 million shares at $15 today, and which will trade as PING).
The SaaS-based data analytics firm provides a monitoring service that bundles metrics and events from servers, databases, applications, tools and services to present a unified view of infrastructure.
The company explains its offering (it specialises in AWS monitoring, but can also track events through 100 other services, e.g. Oracle’s container engine for Kubernetes) as providing infrastructure monitoring and analytics that’s fit for the cloud era.
“[In the cloud] auto-scaling servers die as quickly as they’re spawned, and containers come and go with even greater frequency…
“Instead of monitoring your servers as unique entities, [with DataDog] you can aggregate metrics to focus on different services, availability zones, instance types, software versions, roles or any other relevant dimension.”
Networking giant Cisco has announced a flurry of intended acquisitions – three in the past three months – recently.
These include customer experience management specialist CloudCherry (August 26), meeting transcription and voice search firm Voicea (August 6) and fabless semiconductor company Acacia Communications, Inc. (July 9) which specialises in high-speed optical interconnect products. The company also acquired privately held UK software specialist Ensoft for an undisclosed sum late last year.