Confluent Raised $828M In Upsized IPO At $36/Share; Trading Begins Today

Confluent Inc CFLT raised around $828 million in its U.S. initial public offering, selling 23 million shares at $36 per share.
The data infrastructure software maker previously marketed the IPO between $29 - $33, Bloomberg reports.
The shares are likely to begin trading today on the Nasdaq under the symbol “CFLT.”
Confluent had a diluted valuation close to $12 billion. Confluent was last valued at $4.5 billion in a 2020 funding round.
Confluent has over 2,500 customers, which use its platform to organize and manage data.
Benchmark Capital, Index Ventures and Sequoia Capital, Kreps, and Rao are its significant shareholders.
Confluent reported a net loss of $44.5 million on revenue of $77 million in Q1 FY21 compared to a $33.6 million loss on $51 million in Q1 FY20.
Morgan Stanley MS, JPMorgan Chase & Co JPM, and Goldman Sachs Group Inc GS led the IPO.