Today, Pure Storage announced that it had filed Form S-1 with the US Securities and Exchange Commission (SEC). Form S-1 is essentially a proposal to create an Initial Public Offering (IPO) of publicly-traded shares of stock.
Pure Storage intends to list its Class A common stock under the ticker symbol “PSTG”. The number of shares that will be offered and the price range for those shares has not been determined yet.
Pure Storage makes a line of All-Flash storage arrays. These arrays use very effective compression and deduplication algorithms to use the SSD space effectively. To me, though, the thing that most differentiates their offering from their competitors is not the technology, but the approach. Innovative programs like Forever Flash and Evergreen Storage provide an easy answer to customers with concerns about the investment they’re making when they purchase storage hardware.
Congratulations to my friends at Pure Storage for this huge step. It will be very interesting seeing how this stock moves once it hits the market.