Cloudera shares up 20 percent on Wall Street debut

Cloudera closed out its first day of trading on the New York Stock Exchange with its share price up 20 percent to $18.10.

The Apache Hadoop-based software and services distributor started trading Friday morning at $17.80 a share under the ticker symbol CLDR.

On Thursday evening, Cloudera priced its shares at $15, raising around $225 million and giving it a preliminary valuation of about $1.9 billion — well below the $4.1 billion valuation Cloudera held three years ago following a major investment from Intel.

In 2014, Intel jettisoned plans for its own Hadoop distribution, moving its funds over to Cloudera instead. At an estimated $740 million commitment, Intel said at the time that the Cloudera stake was its largest-ever datacenter technology investment.

Intel doubled down on its investment during Cloudera’s IPO, scooping up more shares in order to maintain its 19.4-percent ownership of the company.

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In an S-1 filing earlier this month, Cloudera disclosed revenue of $261 million for its fiscal year that ended Jan. 31, 2017, an increase of 57 percent over the previous year. The company’s operating cash outflows increased to $116.6 million, while net losses decreased from $203.1 million to $187.3 million.

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