Cloud-based network provider Aryaka plans 2018 IPO, eyes $1 billion valuation



Aryaka, a provider of cloud-based private network for companies, plans to go public in 2018, aiming for a valuation of more than $1 billion, Chief Executive Shawn Farshchi said.
Aryaka, which helps enterprises connect branch offices around the world, expects annual recurring revenue of $50 million by the end of 2016, doubling to $102 million by the end of 2017, Farshchi said. Revenue in 2015 was about $24 million.
The company, whose more than 500 customers include audio products maker Skullcandy, fashion house Gucci and Air China Ltd, expects to be profitable by mid 2017, the CEO said.... read more

 
13 October 2016 in Science &Technology, Views: 53
Source: Reuters
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