Pure Storage preparing for IPO - report

Storage player has hired Morgan Stanley, Goldman Sachs and Barclays Plc to lead IPO, according to Reuters

Pure Storage is readying itself for an IPO which could come later this year, Reuters reported yesterday.

The flash storage vendor has requested that Morgan Stanley, Goldman Sachs and Barclays Plc lead the flotation, according to the newswire which cited sources close to the matter.

Last April Pure Storage's valuation shot up to $3bn (£2.01bn) after it secured $225m in a late-stage funding round, which brought its total capital raised to $470m.

If the vendor does go through with the IPO, it will follow on from other tech players going public in recent months, such as file-sharing firm Box in January and Alibaba's public offering last September, which became the world's largest totalling $25bn.

News that Pure Storage could be preparing for an IPO come despite chief executive Scott Dietzen telling website Re/code last April that the vendor was not planning on rushing into going public.

"There are some luxuries that we have as a private company that we want to preserve for a little while longer," he told Re/code.

Last year Pure Storage claims its headcount double to 850, as its customer base grew by over 200 per cent year over year.

When contacted Pure Storage said it was not commenting on this matter.