Intel-backed big data software vendor, Cloudera, has moved to go public, filing for an initial public offering (IPO) in the United States on 31 March.
The move could see the company, which claims over 2,500 partners globally, pick up the pace of a joint product "roadmap" it has developed with its biggest backer, Intel.
"We have developed a strategic partnership with Intel Corporation, or Intel, to optimise our software for use with Intel processors and architecture," the S-1 form Cloudera lodged with the US Securities and Exchange Commission stated.
"As a result of our and Intel's dedication to this partnership, our platform achieves differentiated performance on Intel architecture today, and is expected to achieve differentiated performance on future Intel platform technologies.
"Intel and Cloudera maintain a joint product roadmap, and each company dedicates substantial resources to fulfilling this objective.
"As a result, our platform achieves differentiated performance on Intel architecture today, and is expected to achieve differentiated performance on future Intel platform technologies immediately upon release to customers," it said.
In its filing, the company indicated it is seeking to raise US$200 million via the proposed listing.
The IPO filing also reveals the extent to which Intel has invested in the company. In May 2014, in conjunction with its strategic partnership with Intel, Intel invested approximately US$741.8 million in its capital stock.
Subsequently, Intel also purchased additional shares of Cloudera's capital stock from some of its stockholders, bringing Intel's aggregate investment in the company's capital stock to approximately US$766.5 million as of January 31, 2017.
Meanwhile, the filing outlines the company's latest financials for the fiscal years ended January 31, 2016 and January 31, 2017, citing revenue of US$166.0 million and IS$261.0 million, respectively, representing year-on-year growth in revenue of 57 per cent for its most recent fiscal year.
At the same time, the company's operating cash outflows increased from US$90.5 million to US$116.6 million, while its net losses were US$203.1 million and US$187.3 million, respectively.
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