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Cybersecurity Firm CrowdStrike Files for IPO

CrowdStrike, an eight-year-old cybersecurity company whose software protects corporate PCs and servers from attacks, is looking to raise up to $100 million in an IPO, according to a regulatory filing on Tuesday.  The company’s revenue grew from $52.7 million in its fiscal 2017 to $250 million in fiscal 2019 (ended Jan. 31). But its net losses have also grown, from $91.3 million in fiscal 2017 to $140 million in fiscal 2019. CrowdStrike, valued at $3 billion after a $200 million Series E funding round last June, said it expects to continue to lose money as it expands its business.

In the filing, CrowdStrike revealed that one of its customers is Amazon Web Services, the online retailer’s cloud computing unit, which is running CrowdStrike software on “hundreds of thousands” of its desktop PCs and servers. CrowdStrike also runs part of its business on AWS, according to the filing.  

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