Cybersecurity star Rubrik (RBRK.US) saw its stock price steadily rise after its IPO, and Cisco (CSCO.US) cashed out its entire stake.
1min read Security company Rubrik (RBRK.US) saw its shareholder Cisco Systems (CSCO.US) sell its stake in the company months after its initial public offering, according to a report. Cisco had acquired a stake in Rubrik through its investment in cybersecurity company Datos IO, which was acquired by Rubrik in 2018. Cisco CFO Scott Herren joined the Rubrik board in 2021.
Rubrik's major investors include Microsoft (MSFT.US), which priced its IPO at $32 per share and began trading in April. In August, Cisco and Rubrik announced a strategic partnership, with Rubrik joining Cisco's SolutionsPlus program. As part of the program, Cisco's direct and channel sales network will offer Rubrik's security cloud with Cisco Unified Computing System (UCS) and Cisco Extended Detection and Response (XDR).
Rubrik went public on the New York Stock Exchange on April 25, trading under the ticker "RBRK", and saw its shares rise 20% after the IPO. As of Thursday, Rubrik's closing price was $34.63. As of July 31, Rubrik's subscription annual recurring revenue (ARR) was over $919 million, with 1,969 customers with ARR of $100,000 or more.