DataDog Rival Sumo Logic Files for IPO to Get in on the Rally
Sumo Logic has filed a preliminary S-1 with the Securities and Exchange Commission (SEC) in preparation for its initial public offering (IPO). The company plans to trade on the Nasdaq (NASDAQ: NDAQ) stock exchange using the ticker symbol "SUMO." Since this is the company's initial regulatory filing, Sumo Logic has said it hopes to raise $100 million, which is typically a placeholder to be updated later. It hasn't yet disclosed when it will begin trading or how many shares it will offer.
The company competes with the likes of Datadog (NASDAQ: DDOG), Dynatrace (NYSE: DT), and Splunk (NASDAQ: SPLK) in the business-intelligence space and markets itself as a "continuous intelligence platform," pouring over data to provide its customers with more actionable information.
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Source Fool.com
