Networking firm Arista filed for an initial public offering for up to $200 million in stock.
Arista provides software and support to its customers, some of the world’s most prominent Internet firms, to help them handle web traffic. The firm launched in 2008 to bring extremely high-speed 10 gigabit switches, at that time typically seen in laboratories and data centers, to the mass market.
The firm now counts the BBC, StumbleUpon, and Flurry among its customers.
Arista, a prominent rival to Cisco Systems, is hoping to capitalize on Wall Street’s furor for cloud software companies. Last week, cloud storage Box revealed plans to raise as much as $250 million in its IPO, despite intensifying competition in the space.
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
Arista’s chief executive Jayshree Ullal is the largest individual shareholder. Ullal, a former Cisco executive, has held the top position since 2008. The company was cofounded by electrical engineer Andy Bechtolsheim, who also helped found Sun Microsystems while a PhD student at Stanford.
Morgan Stanley and Citigroup are leading the offering, the financial filing shows. The firm will list its stock on the New York Stock Exchange under the symbol ANET.
