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Pure Storage Inc. Files For IPO

Pure Storage Inc. has filed for and IPO with U.S. regulators. Pure Storage manufactures flash drives and storage devices, which are much faster than storage that runs on hard disk drives. The firm’s major competitors include EMC Corp and NetApp Inc.

Pure Storage raised over $470 million from a round of funding from investors including Sutter Hill, Greylock, Redpoint, Index Ventures, T. Rowe Price, Fidelity and Wellington Management.

The firm’s revenue was $174.4 for the year ending Jan. 31. Some of the company’s clients include Lamar Advertising Co, Shutterfly Inc, Intuit Inc and Skullcandy Inc.

The company plans to list its Class A common stock under the symbol “PSTG”. The company has not announced which exchange it will be listed on or how many shares it plans to sell.

Morgan Stanley, Goldman Sachs, Barclays and Merrill Lynch, Pierce, Fenner & Smith are some of the underwriters for the IPO.