Everything we know about the Rubrik Inc (RBRK) IPO so far

By:
on Apr 2, 2024
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  • As early as this week by 5th April, Rubrik Inc (RBRK) is expected to debut on the New York stock exchange.
  • Years in the making, this cybersecurity company, backed by Microsoft, is sure to make a big splash.
  • Here's everything we know about Rubrik's upcoming market debut so far.

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On Monday April 1st, Rubrik filed for an IPO with the United States’ Securities and Exchange Commission (SEC) to list on the NYSE.

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Allegedly, the company will trade under the ticker symbol RBRK.

What is Rubrik Inc?

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Rubrik is an American tech startup based in – where else – California’s Silicon Valley. Rubrik Inc specialises in data security, both for cloud systems and in general cybersecurity.

The company was founded in 2024 by CEO Bipul Sinha and the company’s CTO (chief technology officer) Arvind Nithrashyap.

Despite being smaller than competitors like IBM and Dell, it’s well established in the industry and has been going as a private company for close to ten years now.

Why are investors excited about the RBRK IPO?

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Rubrik is known to be supported by Microsoft, which invested a hefty amount into the company back in 2021, effectively valuing it at $4 billion back then.

Another thing that has investors excited for RBRK is its client list, which includes several big names in business, from Home Depot to Nvidia.

The latter in particular is of interest, since everything even tangentially related to AI-centric stock Nvidia is getting the Midas touch these days.

When will the Rubrik IPO happen?

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According to Yahoo, the tech company should be debuting on the stock market this week.

Although not much more is known about this, and no official announcement has been made by Rubrik, it’s thought that the IPO will happen on Friday April 5th or before.

How much will Rubrik’s IPO be valued at?

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Again, the market is relying on guesswork here, as the company hasn’t been officially valued since 2021, when it received a valuation of $4 billion after a funding round that saw Microsoft purchase a stake in the company.

However, according to BNN Bloomberg, the company could be shooting for a valuation $500 million to $700 million in its IPO.

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