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Quickly, the content distribution network, which raised $ 219 million in funding from investors (according to Crunchbase), is ready for closing on public markets.
The company, which is eight years old, is one of the companies that improves the download time and the distribution of different websites on Internet browsers. She has just filed an IPO application.
Media companies like The New York Times use Fastly cache their home pages, media and articles on Fastly's servers so that when someone wants to browse the Times online, Fastly's servers can send it directly to the browser. In some cases, responds quickly to 90% of browser requests.
E-commerce companies like Stripe and Ticketmaster are also heavy users of the service. They appreciate Fastly because its network of servers allows faster loading times, sometimes going up to 20 or 30 milliseconds, depending on the company.
The company lifted its latest round of financing about nine months ago, a $ 40 million investment that, according to Fastly, would be the last before a public offering.
True to its word, the company hopes that public markets will have the appetite to feast on another "unicorn" company.
While rapidly missing the sizzling of companies like Zoom, Pinterest or Lyft, its technology allows for a huge share of consumer online business. It could also serve as a benchmark for competitors such as Cloudflare, which recently raised $ 150 million and is also exploring a public list.
The corporation's public deposit includes a reserve amount of $ 100 million, but given the amount of funds received by the corporation, it is much more likely that it will be closer to $ 1 billion when it ends up selling his actions.
Its turnover quickly reached $ 145 million in 2018, compared to $ 105 million in 2017, and its losses decreased to $ 29 million, compared to $ 31 million for the same period. period of the previous year. As a result, its losses are declining, its revenues are rising (albeit slowly) and its cost of revenue has risen from $ 46 million to about $ 65 million over the same period.
This is not a big figure for the company, but it is offset by the sums of money the company receives from its customers. This figure is quickly indicated by its net growth rate based on the dollar, which rose by 132% in 2018.
This is an encouraging figure, but as the company says in its prospectus, the content delivery network sector is facing a growing number of challenges from new and old suppliers.
The market for cloud computing platforms, especially business products, "is highly fragmented, competitive and ever-changing," the company says in its prospectus. "With the introduction of new technologies and the arrival on the market, we expect that the competitive environment in which we operate will remain intense. Legacy CDNs, such as Akamai, Limelight, EdgeCast (owned by Verizon Digital Media), Level3 and Imperva, and small business-centric CDNs, such as Cloudflare, InStart, StackPath, and Section.io, offer products in competition with ours. We are also competing with cloud providers who are starting to offer compute features such as CloudFront from Amazon, AWS Lambda, and Google Cloud Platform. "
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