Tanium IPO: Updates on the Cybersecurity Stock
Investors have long awaited the Tanium IPO. Many people want to see the company’s public debut and the company has reportedly been ready to IPO for years. So, when is Tanium stock coming to the market?
Tanium IPO: About the Cybersecurity Platform
Tanium is a cybersecurity and systems management platform at an enterprise scale. It provides enterprise and government organizations with tools to protect, control and manage millions of endpoints within seconds. Tanium allows users to see endpoints whether they’re on-premises or in the cloud.
Today, securing networks and managing security is essential in the digital age. This company allows users to do just that. Furthermore, the company has an impressive list of clients. And this bodes well for the highly anticipated Tanium IPO.
Big industry names like Barclays, Nasdaq and MGM Studios use Tanium to secure their platforms. Moreover, Tanium provides security to half of the Fortune 100 companies, financial institutions and several branches of the U.S. armed forces. In addition, the company has ranked on Forbes’ Top 100 Private Companies in Cloud Computing list for six consecutive years.
Tanium’s long list of clients shows it doesn’t need a public debut to reach the highest level of enterprise customers. The company has been and continues to be an enterprise-grade company long before the Tanium IPO. So, how do the company’s finances compare?
Tanium Secures $9 Billion Valuation Ahead of IPO
Tanium has been active in the cybersecurity space since 2007. Nevertheless, it frequently appears on anticipated IPO lists, probably due to its high numbers.
In 2020, Tanium reached a $9 billion valuation after receiving roughly $100 million from Salesforce and $150 million from existing investors. At the time, Salesforce said it was working with the cybersecurity giant to “develop an employee service solution for the new all-digital, work-from-anywhere world.”
Salesforce reported that the partnership is aiming to develop “a help desk that gives employees a one-stop-shop to self-serve, submit, track and resolve service requests or incidents.” Additionally, Salesforce has partnered with Tanium to let businesses manage employee incidents and further automate common processes.
Before the funding round, Tanium secured a $6.5 billion valuation after raising around $800 million in total as of 2018. Altogether, the company has secured more than $1 billion from investors. And this makes Tanium stock a good candidate every year.
Tanium has secured venture capital funding from major players like IVP, TPG Growth, T. Rowe Price and Andreessen Horowitz. However, it’s hard to look deeper into the company’s finances until it goes public.
Because Tanium is still privately held, the company’s finances follow suit. However, Tanium claimed to have revenue exceeding $430 million in a 2020 press release. This figure represents over 50% growth and signals massive success for a private company. Meanwhile, the company has made headlines after news broke that it may not plan to go public at all.
Tanium IPO Is a “Smoke Screen to Retain Employees”
Tanium announced the appointment of Steve Daheb as its CMO in November 2021. This hiring decision led to a whirl of headlines speculating that the company could be exploring the Tanium IPO in the near future. In February 2021, Daheb led ON24 through its public debut as the company’s CMO before joining Tanium.
However, the company is not looking promising in its plans to go public. In addition to the new CMO, Tanium hired Marc Levin as CFO in May 2021 to reportedly explore the possibility of an IPO. The news came as a surprise to company employees, who claim that co-founder Orion Hindawi has always resisted a Tanium IPO. Amid the pandemic, Hindawi referred to Tanium’s private ownership as a “blessing.”
Many employees join startups with the idea of cashing out when the company goes public. Moreover, working for a company before it goes public can be extremely beneficial for employees with stock options or restricted stock units (RSUs). However, it’s looking like Tanium is facing a huge exodus. People at Tanium are growing weary of the company’s plans, or lack of, to offer stock.
According to an Insider article, former employees claimed that the IPO talk was a “smoke screen” to prevent employees from leaving. So, should potential investors disregard the Tanium IPO completely?
Can Investors Expect Tanium Stock?
The Tanium IPO is only a rumor for now. It doesn’t seem like the cybersecurity company is planning to hit the public markets anytime soon. And there are ways to buy pre-IPO stock but it’s challenging for average investors. You can click on that link to learn more.
Check back here for the latest updates on Tanium stock. In the meantime, if you’re interested in investing in cybersecurity, you can check out this list of the top cybersecurity stocks.
Always do your research before investing. Initial public offerings can be volatile in the first few months, and share prices constantly fluctuate.