Cloud provider DigitalOcean announced that the company filed a registration statement for the proposed initial public offering. The company also announced that it intends to list its common stock under the ticker symbol “DOCN” on the New York Stock Exchange. The company didn’t share the number of shares to be offered and the price range for the proposed offering.
New York Stock Exchange
Morgan Stanley, Goldman Sachs, and J.P. Morgan are acting as lead book-running managers for the proposed offering. BofA Securities, Barclays, and KeyBanc Capital Markets are acting as joint book-running managers for the offering. Canaccord Genuity, JMP Securities, and Stifel are acting as co-managers for the proposed offering.
The company, established in 2012, generated $318.4 million in revenue last year, increased from $254.8 million year-over-year. In 2020, DigitalOcean announced that it lost $43.6 million. The company also stated that 38% of the company’s revenue came from North America last year, 30% from Europe, and 22% from Asia. The company also announced new appointments in 2020. Hilary Schneider and Warren Adelman, former CEO of GoDaddy, joined the company’s board of directors.