Blavatnik-Backed DigitalOcean Raises About $775 Million in IPO

March 23, 2021

Cloud computing company DigitalOcean Holdings Inc. raised more than $775 million in an initial public offering priced at the top of a marketed range, adding to 2021’s run of software listings.
DigitalOcean sold 16.5 million shares Tuesday for $47 each, according to a statement. The New York-based company had marketed the shares for $44 to $47. The pricing implies a market value of about $5 billion, based on the outstanding shares listed in filings with the U.S. Securities and Exchange Commission.