Follow Us

We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message

Sandboxing star FireEye files for $175 million IPO

Reveals hiring binge as part of growth strategy

Article comments

Fast-growing, fast-hiring but still loss-making security vendor FireEye has announced plans to raise up to $175 million (£115 million) from an IPO.

Despite being founded as long ago as 2004, tech watchers could be forgiven for viewing the firm as almost a startup. The firm’s S-1 form filed with the Securities and Exchange (SEC) commission is witness to a hiring binge that has seen FireEye’s workforce expand from 175 to 932 during 2012 and the first half of 2013.

In the same time period, the number of customers has increased from 425 to over 1,100, which suggests that some of the numbers boost has gone into sales.

While revenue has doubled in the first half of 2013 to $61.6 million compared to a year ago so had losses which were now $67.2 million, up from $14.3 million.

Given that the company has also made losses every year since its foundation, why might anyone invest in FireEye? Because, year after year, computer security remains a mess and every now and then a new firm makes a plausible case that it has come up with a technology that can sort things.

FireEye’s USP right now is its business-grade sandboxing security, a way of isolating software to see what it does before allowing it to run in a network environment in which it might do harm.

The area is seen as another way of bolstering security in the face of the slowly-collapsing antivirus technology that no longer stops the most potent threats.

Earlier in 2013, FireEye raised $50 million in VC money, hiring former McAfee President Dave DeWalt to be its shiny new CEO.

Palo Alto, which went public in 2012, rode a parallel wave with its claim to have reinvented the aging concept of the firewall for the application age.

FireEye’s IPO news is no surprise even if the exact timing and price of the offer have yet to be determined.


More from Techworld

More relevant IT news


Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

Techworld White Papers

Choose – and Choose Wisely – the Right MSP for Your SMB

End users need a technology partner that provides transparency, enables productivity, delivers...

Download Whitepaper

10 Effective Habits of Indispensable IT Departments

It’s no secret that responsibilities are growing while budgets continue to shrink. Download this...

Download Whitepaper

Gartner Magic Quadrant for Enterprise Information Archiving

Enterprise information archiving is contributing to organisational needs for e-discovery and...

Download Whitepaper

Advancing the state of virtualised backups

Dell Software’s vRanger is a veteran of the virtualisation specific backup market. It was the...

Download Whitepaper

Techworld UK - Technology - Business

Innovation, productivity, agility and profit

Watch this on demand webinar which explores IT innovation, managed print services and business agility.

Techworld Mobile Site

Access Techworld's content on the move

Get the latest news, product reviews and downloads on your mobile device with Techworld's mobile site.

Find out more...

From Wow to How : Making mobile and cloud work for you

On demand Biztech Briefing - Learn how to effectively deliver mobile work styles and cloud services together.

Watch now...

Site Map

* *