14 DAY TRIAL // IT security solutions provider FireEye (FEYE) went public at $20 (€15) per share. The initial public offering is for 15,175,000 shares of common stock. However, the company says it’s prepared to cover over-allotments with an additional 2,275,000 shares.
USA Today reports that shares in FEYE have doubled almost immediately to over $40 (€30) per share. This proves that the recent cyberattacks have had a significant impact on the cyber security market.
Dave DeWalt, FireEye’s CEO, appears to be confident in the company’s “revolutionary” technology. DeWalt believes that organizations are starting to realize that the threat landscape has changed and that traditional solutions are simply not enough.
FireEye’s revenue has grown significantly over the past period, especially since DeWalt took over. However, the company is yet to make a profit.