Cloudinary, a SaaS company that offers a cloud-based image management service, is one of the most popular of its kind—particularly among larger businesses and media companies. The service offers a way for people to share and manage photos easily, as well as deliver them to other websites and apps without any hassle. A possible Cloudinary IPO has certainly triggered some buzz in recent months, particularly after the company revealed it reached $80 million in annual revenue despite the pandemic.
With over a half-million users, Cloudinary is well on its way to being one of the most widely used platforms of its kind, piquing interest in when it will file an IPO or go public in another way on the stock market. The company was founded in Israel in 2011 by Itai Lahan, Tal Lev-Ami and Nadav Soferman, who still work with the company today. After growing organically throughout the 2010’s, the company achieved its goals without venture capital or major funding—a feat in the tech world, though one that does not come without its own set of challenges.
Though the company reported to TechCrunch that it scaled its business back a bit during the pandemic, it still made major waves in 2020 as it reached its $80 million ARR goal. The company hasn’t revealed whether it has specific plans to file an IPO in the near future, but does expect that it will reach $100 million ARR in 2021. Numbers like that pique interest from investors, and conversation around a possible IPO is buzzing, though the company hasn’t released a public statement on whether it has plans to file for one in the near future.
If it does, though, the company’s popularity among corporate players makes it a strong contender for a promising entry to the public market. Some of the more popular IPOs in the last couple of years have been companies that disrupt the industries in their field, and Cloudinary would likely be no different as a SaaS disruptor and office staple.
Cloudinary didn’t immediately respond to Grit Daily’s request for comment.