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Pure Storage preps for IPO: report

Bankers appointed, about US$3bn sought for flashy storage upstart

tumbling dice

Pure Storage has appointed Morgan Stanley, Goldman Sachs and Barclays Plc to ready it for an initial public offering (IPO), says Reuters.

Citing people familiar with the financial footling as its source, the newswire says the company thinks the markets will toss over US$3bn in its direction some time later this year.

Pure trousered $225m of VC cash in April 2014, which then translated to a value of $3bn. By all accounts it's done rather well since, as the move to flash-based storage arrays has proved a tide that floats all ships (even even NetApp's weak-ish offering).

Over its lifetime, Pure has won over $450m of investor infusions, so with the US economy and stock market both doing rather better than has been the case for much of the last decade this looks as good a time as any to go public. If Pure is indeed going to undertake an IPO, it will join Nimble Storage among recent storage floats and perhaps make the likes of Kaminario, Nimbus Data, SolidFire, Syneto and Violin Memory, all fellow all-flash array vendors, consider their next moves. ®

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