Ten years after starting Cloudflare with her Harvard Business School classmate Matthew Prince and his friend Lee Holloway, Saskatchewan native Michelle Zatlyn visited the New York Stock Exchange for the first time—to ring the opening bell.
The San Francisco-based web security company—whose software helps websites drive traffic, run faster and block cyber attacks—went public Friday, selling 35 million shares at US$15 each. The company bucked this year’s tech IPO trend, beating its own expectations on its first day of trading.
Two days before going public, it hiked its share price range; on the eve of the IPO, it bumped it again. Nonetheless, by the end of its first day on the public markets, the company’s stock was up 20 per cent, hitting US$18 per share to bring its valuation to over US$5 billion.