Come On Down, Okta!

SF homes about to get even more expensive…

Okta is dual-headed:

Okta Headquarters
301 Brannan Street, 1st Floor
San Francisco, CA 94107, USA

Okta Headquarters South
300 Park Avenue, 4th Floor
San Jose, CA 95110, USA

Kinda like yours truly…

In an amended filing Wednesday with the U.S. Securities and Exchange Commission, Okta raised its proposed offering price per share to $17 from the $15 per share outlined in documents last week. The company still plans to offer 11 million shares.

The latest goal of $215 million comes after a nearly 90 percent increase in March from the original goal of a $100 million IPO to $189.75 million.

Cloudera (Palo Alto) also filed for IPO recently, but I don’t think they set a price yet.

I know people in Cloudera. South Bay RE will go up some more when they IPO. I do not however think the stock will do well in the medium term. Intel pumped in >740m but Cloudera revenues are still at $250mn after all these years. Also Cloudera has intense competition from Amazon EMR and are losing deals to Amazon.