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July 28, 2015updated 25 Aug 2016 11:40am

5 sharpest tech firms probing an IPO in late 2015

After Square's tribulations, who will be next to go public?

By Jimmy Nicholls

Going public has become a rite of passage for the brightest companies in Silicon Valley, allowing tech firms to collect masses of money and catapult themselves towards a high valuation.

The mobile payments firm Square became only the latest tech company to file for an initial public offering (IPO) last week, according to reports from Bloomberg.

But what other firms from the lucrative technology sector are likely to launch themselves onto the public market in the near future? CBR gives you the rundown.

1. Veracode

Veracode is a cloud-based company specialising in application security. Operating out of Burlington, Massachusetts, the firm has been running since 2006.

In March of this year the company was reported as confidentially filing for a IPO with the US securities authority, having apparently gone so far as to have picked out underwriters.

Such a move was said by Fortune, an American business magazine, to be likely to double Veracode’s value to $900m (£580m) if it went ahead, not that far away from the prestigious "unicorn" valuation of $1bn.

2. Cloudera

Despite the name, Cloudera is primarily focused on analytics, selling a variation on the Hadoop software used to manage business data.

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Its quick rise, with revenues of more than $100m for 2014, has led many to speculate and hope for a move onto public markets, rumours being stoked up in February following reports from VentureBeat.

However Cloudera eventually pushed back on these, with company officials denying that there was any plan in the offing.

3. Uber

It has been a tough few months for the taxi-hailing app creator Uber, with the company facing regulatory pushback from a number of countries around the world.

Even so the firm appears to have scale on its mind, a publicly leaked email from chief executive Travis Kalanick having revealed the firm is planning on spending more than $1bn in the country alone.

Such spending will have to be backed up by something, and the attention Uber has attracted from the media for its pioneering of the so-called "sharing economy" has raised interest in a potential IPO that is unlikely to desist.

4. Airbnb

Another company with staggering growth and a strong profile in the sharing economy, Airbnb allows property owners to become part-time landlords by renting out their homes to strangers while they are away.

At the end of last month the firm was reportedly valued at $25.5bn following a $1.5bn funding round, according to CNN, the service having rolled out to almost every country in the world and more than 34,000 cities.

Whether this growth can be sustained remains to be seen, but such multiples mean that a public offering could prove irresistable in the long run.

5. Snapchat

Often companies will keep schtum about any potential IPO for as long as possible, only revealing the news when the documents have been filed.

As such the comments in May of Evan Spiegel, chief executive of the messaging company Snapchat, which forces messages to be deleted after a certain time, came as a shock.

"We need to IPO; we have a plan to do that," he said at the end of that month at a tech conference in southern California. "An IPO is really important." As such do not be surprised when the Snapchat ticker appears on the stock exchange.

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