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Crowdstrike Surges In IPO Debut; CEO Kurtz Now A Billionaire

Crowdstrike, the cybersecurity software developer which was founded in Orange County, and which continues to have a healthy presence in Irvine, saw a huge surge in its IPO debut on Wednesday, making Crowdstrike CEO George Kurtz a billionaire. The company priced its IPO at $34.00 per share, well above its estimated initial IPO range of $28.00 to $30.00 per share, and opened up at $63.50 per share in its first trading on Wednesday morning. The company now is worth approximately $11.4 billion, closing around $58 on Wednesday. The company now trades on the Nasdaq Global Select Market as CRWD. Crowdstrike was venture backed by Warburg Pincus, Accel, and CapitalG. The IPO was underwritten by Goldman Sachs & Co. LLC, J.P. Morgan, BofA Merrill Lynch, Barclays, Credit Suisse, Jefferies, RBC Capital Markets, Stifel, HSBC, Macquarie Capital, Piper Jaffray, SunTrust Robinson Humphrey, BTIG, JMP Securities, Mizuho Securities, Needham & Company, and Oppenheimer & Co.