ADVERTISEMENT

A little known cloud security company just raised $192 million in the first big tech IPO of 2018 (ZS)

Zscaler is trading up 72% in its early hours as a public company

  • Zscaler, an enterprise cloud security company, took its shares public on Friday.
  • The company set its share price at $16, and shares shot up 75% to around $28 on the first day of trading.
  • Zscaler is the first of the many tech IPOs expected to come in 2018.
ADVERTISEMENT

The first big tech IPO of the year is off to a good start.

Zscaler, a San Jose-based cloud security company, is up more than 75% Friday in its first hours as a publicly traded company.

The company, whichriced its shares at $16 in order to raise a total of

ADVERTISEMENT

"For decades, enterprises had been building corporate networks to connect users to applications in the data center, and these networks were secured with a multitude of security appliances. The world has changed and network security is becoming irrelevant," Chaudhry wrote.

"We knew that retrofitted security technologies wouldn’t work in this new world, so we set out to redefine security. We started with a clean slate—security born in the cloud for the cloud, deep and wide in functionality," he said.

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

Opinion Piece: Accelerating sustainable development goals through better agricultural risk management

Opinion Piece: Accelerating sustainable development goals through better agricultural risk management

Zimbabwe is set to honor Russian victory with a monument

Zimbabwe is set to honor Russian victory with a monument

Top cross-border payment companies in Africa on recent global ranking

Top cross-border payment companies in Africa on recent global ranking

Studio Monkey in collaboration with Worldwide FM and Gilles Peterson launches initiative to support grassroot music communities

Studio Monkey in collaboration with Worldwide FM and Gilles Peterson launches initiative to support grassroot music communities

NexaScale marks one-year milestone with visionary initiatives empowering Africa's youth for the future of work

NexaScale marks one-year milestone with visionary initiatives empowering Africa's youth for the future of work

How Patrice Motsepe-backed GoSolr wants to solve South Africa's power crises

How Patrice Motsepe-backed GoSolr wants to solve South Africa's power crises

Harsh words for the World Bank from Uganda’s president at the meeting of African leaders

Harsh words for the World Bank from Uganda’s president at the meeting of African leaders

The US and Uganda partner to combat a deadly enemy

The US and Uganda partner to combat a deadly enemy

See why ice is now pricier than bread and milk in this African country

See why ice is now pricier than bread and milk in this African country

ADVERTISEMENT