April 27, 2017 / 11:37 PM / 3 years ago

Software company Cloudera raises $225 million in IPO -source

April 27 (Reuters) - Software company Cloudera Inc raised $225 million in an initial public offering on Thursday, a source familiar with the situations said, giving the company a market valuation of about $1.9 billion, a steep fall from the $4.1 billion it was once valued at in the private market.

Investors including chip company Intel Corp piled into Cloudera several years ago when a flood of money into private technology companies pushed valuations skyward.

Cloudera said it priced its shares at $15, above its indicated range of $12 to $14, but still a far cry from the $30.92 a share that Intel paid in 2014.

The source asked not to be named because the negotiations are confidential. Cloudera and Intel did not immediately respond to requests for comment.

Reporting by Lauren Hirsch; Editing by Richard Chang

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