Cloudflare, a nine-year-old content delivery network and security company backed by Google and Microsoft, is gearing up for an initial public offering in the first half of next year, according to this report from Reuters. The IPO is reportedly being led by Goldman Sachs and could value Cloudflare at more than $3.5 billion. Other tech firms said to be considering IPOs next year include Uber and Lyft along with security firm Crowdstrike and reportedly Palantir and Slack.
One of Cloudflare’s biggest strengths is its global network—it has equipment in more than 125 data centers around the world—which it uses to speed performance of companies’ websites and protect them from denial-of-service attacks. More recently, Cloudflare has been using that network to develop other products, like a service that makes it easier to move data between different cloud providers and a real-time auction service that will determine which provider has the best pricing at any given moment.