It’s safe to say that this “enterprise cloud company” has earned its bragging rights.
Nutanix – a San Jose cloud-based storage hub for businesses, recently celebrated a victory on Friday, September 30, 2016, after their shares rose 131.25% on their first day of trading. The first tech company to achieve such status on opening trade day this year boasts clients that include Nordstrom, Nintendo and the US Department of Defense, to name a few.
What makes this service different from other cloud-based systems out there is its ability to integrate servers, virtualization, storage and other related software, all while cutting clients’ costs in the process. This system is said to reduce up to 90% in power, cooling and space, and offers limitless scalability.
Nutanix’s shares were sitting at $16 on Thursday evening, and rose to $37 by Friday close. CEO Dheeraj Pandey says, “Hindsight is “20-20”, in an interview with Fortune. Pandey said the company wanted to start with a share price they felt confident about, and that it was up to the public market to determine the “true value” of the company.
Nutanix raised almost $240 million in the offering, with a market value over $4 billion now.