Its Microsoft connection is a plus

Article Excerpt

CONFLUNET INC. makes software that lets businesses access, store, and manage data as continuous, real-time streams. That helps them make critical decisions quicker. The company has over 2,500 clients, including 60 that generate annual revenue in excess of $1 million. In the three months ended March 31, 2021, Confluent’s revenue shot up 51.3%, to $77.02 million from $50.90 million a year earlier. Due to heavy spending on its operations (including research and development), losses increased to $44.53 million from $33.64 million. The company recently filed the paperwork for an initial public offering. It expects to sell 23.0 million Class A shares at between $29 and $33 a share. The stock will trade on Nasdaq under the “CFLT” symbol. Confluent seems to have a better-than-average chance of success than most IPOs. It was founded by three LinkedIn executives, and Microsoft Corp. (Nasdaq symbol MSFT), which acquired LinkedIn in 2016, reportedly has a sizable stake in the firm. We’ll keep an eye on the progress…

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