Pivotal Software

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Pivotal Software, Inc.
Public
Traded as NYSEPVTL
Industry Computer software
Founded April 2013 (2013-04)
Headquarters San Francisco
Palo Alto, California
Key people
Paul Maritz (Chairman)
Rob Mee (CEO)
Revenue US$509.4M[1] (2017)
-US$163.5M (2017)
Owner Dell Technologies (70%)
Number of employees
2,518[2] (2018)
Website www.pivotal.io

Pivotal Software, Inc. (Pivotal) is a software and services company based in San Francisco and Palo Alto, California, with several other offices. Divisions include Pivotal Labs (consulting services), Pivotal Cloud Foundry, and a group developing big data products.

History[edit]

Pivotal office in Toronto

Pivotal Software was formed in 2012 after spinning out of EMC Corporation and VMware (which was majority-owned by EMC).[3] The name came from the Pivotal Labs LLC which had been acquired by EMC, and briefly used the name GoPivotal, Incorporated.[4] On April 24, 2013, the organization announced a US$105 million investment from General Electric (for 10% equity) and Pivotal One, including Cloud Foundry for cloud computing.[5][6]

Paul Maritz became Pivotal's chief executive immediately after the spin-out.[6] Maritz had joined EMC in February 2008 when Pi Corporation, a company he co-founded, was acquired and was previously the CEO of VMware.[7][8] The Greenplum Database (acquired by EMC in 2010) formed the basis of a division selling software for the big data market.[9] In March, 2013, a distribution of Apache Hadoop called Pivotal HD was announced, including a version of the Greenplum software for it called Hawq.[10]

Paul Maritz became Pivotal's Chairman and Rob Mee, founder of Pivotal Labs, became chief executive officer of Pivotal Software on August 18, 2015. In May, 2016, a US$253 million round of investment was announced, including Microsoft and Ford.[11] EMC also converted US$400 million of debt into equity at that time.[12][13]

In March 2018, the company filed for an initial public offering, debuting on the NYSE on April 20, 2018.[14][15] The trading price began at $15 a share, and closed with a 5% increase on its first day.[16] The company plans to raise $555 million in the IPO.[17]

See also[edit]

References[edit]

  1. ^ Balakrishnan, Anita (March 23, 2018). "Pivotal Software, majority-owned by Dell, files for IPO with over $500 million in revenue last year". CNBC. Retrieved March 29, 2018. 
  2. ^ "Pivotal closes nearly 5% higher on first trading day". CNBC. Retrieved 21 April 2018. 
  3. ^ Om Malik and Stacey Higginbotham (July 16, 2012). "VMware plans cloud spin out to keep up with Microsoft, Amazon and Google". GigaOM. Retrieved August 31, 2016. 
  4. ^ "Notice of Exempt Offering of Securities". United States Securities and Exchange Commission. April 15, 2013. Retrieved August 31, 2016. 
  5. ^ "GE Joins EMC and VMware in a Joint Venture to Challenge Software Megavendors in the Cloud". Press Release. April 24, 2013. Retrieved August 31, 2016. 
  6. ^ a b Quentin Hardy (April 24, 2013). "Pivotal's Audacious Plan". New York Times Bits. Retrieved August 31, 2016. 
  7. ^ "EMC To Acquire Pi Corporation, Developer of Personal Information Management Technology". Press release. EMC. February 21, 2008. Retrieved October 3, 2013. 
  8. ^ "Executive Team". Company web site. Pivotal. Archived from the original on November 18, 2013. Retrieved August 31, 2016. 
  9. ^ Jack Clark (April 24, 2013). "General Electric pours $105 MEEELION into Pivotal Initiative: Skunkworks lab for the industrial internet". The Register. Retrieved August 31, 2016. 
  10. ^ Timothy Prickett Morgan (July 17, 2013). "Pivotal ships eponymous Hadoop distro to the masses: An inquisitive HAWQ rides the big data elephant". The Register. Retrieved August 31, 2016. 
  11. ^ Arik Hesselhdahl (May 5, 2016). "Ford and Microsoft lead US$253 million investment in EMC-owned Pivotal". Recode. Retrieved August 12, 2016. 
  12. ^ "Pivotal's Funding Picture Just Got a Lot More Interesting: EMC's debt conversion should grease the skids for a Pivotal IPO". Fortune. May 9, 2016. Retrieved August 31, 2016. 
  13. ^ "Notice of Exempt Offering of Securities". United States Securities and Exchange Commission. May 6, 2016. Retrieved August 31, 2016. 
  14. ^ Al-Muslim, Aisha (March 23, 2018). "Pivotal Software Files for IPO". The Wall Street Journal. Retrieved March 29, 2018. 
  15. ^ Owens, Jeremy C. "Pivotal prices IPO at $15 a share". MarketWatch. Retrieved 2018-04-20. 
  16. ^ "Pivotal Software closed up 5% following IPO, raised $555 million". TechCrunch. April 20, 2018. Retrieved 21 April 2018. 
  17. ^ "Pivotal Software IPO Climbs Nearly 5% In First Day Of Trading". Investor's Business Daily.