INSUBCONTINENT EXCLUSIVE:
Ping is said to be looking at a valuation of between $2 billion and $3 billion in this listing.The company has been around since 2001,
enterprise companies that looked like strong IPO candidates were going the private equity route and staying private instead.But more
recently, there has been a surge in demand for better IT security linked to identity and authentication management, so it seems that Vista
right now (just yesterday VMware acquired not one but two companies, Carbon Black for $2.1 billion and Pivotal for $2.7 billion) that I
currently unprofitable but on a steady growth curve
Ping had revenues of $112.9 million in the first six months of 2019, versus $99.5 million in the same period a year before
Its loss has been shrinking in recent years, with a net loss of $3.1 million in the first six months of this year versus $5.8 million a year
before (notably in 2017 overall it was profitable with a net income of $19 million
It seems that the change is due to acquisitions and investing for growth).Its annual run rate, meanwhile, was $198 million for the first six
months of the year, compared to $159.6 million in the same period a year ago.The area of identity and access management has become a
cornerstone of enterprise IT, with companies looking for efficient and secure ways to centralise how not just their employees, but their
customers, their partners and various connected devices on their networks can be authenticated across their cloud and on-premise
spurred not just by an increased move to centralised applications served through the cloud, but also by the drastic rise in breaches where
building services in this area and tackling all of those use cases, competing with the likes of Okta, OneLogin, AuthO, Cisco and dozens more
off-the-shelf and custom-built solutions.The company offers its services on an SaaS basis, covering services like secure sign-on,
multi-factor authentication, API access security, personalised and unified profile directories, data governance and AI-based security
identify potentially malicious activity.More to come.
