Datadog, which provides a monitoring and analytics platform for companies' technology stacks, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $492 million by offering 24 million shares at a price range of $19 to $22. At the midpoint of the proposed range, Datadog would command a fully diluted market value of $6.6 billion.
Datadog was founded in 2010 and booked $266 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol DDOG. Morgan Stanley, Goldman Sachs, J.P. Morgan, Credit Suisse, Barclays, Jefferies and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 16, 2019.
