HashiCorp on Nasdaq Marketplace, December 9, 2021.
Source: Nasdaq
bridge company The company rose 12% in after-hours trading on Friday after Bloomberg reported that the software developer was considering a sale.
Bloomberg, citing unnamed sources, said the company has hired outside firms to explore interest from potential buyers. Representatives for the company did not immediately respond to CNBC’s request for comment.
HashiCorp, whose software helps developers control resources in public clouds and data centers, went public on Nasdaq in late 2021 at the height of the tech market. The stock fell 14% last year, while the S&P 500 rose 24%.
As of Friday’s close, HashiCorp was trading at $26.50, 67% below its initial public offering price. Its market capitalization is approximately $5 billion. In the most recent quarter, revenue growth slowed to 15% from 41% in the same period last year.
Chief Executive David McJannet said on a conference call with analysts last week: “At this stage of the growth cycle, we are already behind where we want the company to be and we still have work to do. .”
Mitchell Hashimoto, co-founder and former technical director of HashiCorp, explain In December, he announced he was leaving the company.
Read the full report from Bloomberg here.
watch: HashiCorp CEO McJannet talks enterprise software
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