Business Continuity Management / Disaster Recovery , Governance & Risk Management , Next-Generation Technologies & Secure Development

Rubrik Execs on How Going Public Will Drive More Innovation

Why Cyber's First IPO Since 2021 Will Fuel Growth, Foster Customer Relationships
Anneka Gupta, chief product officer, and Arvind Nithrakashyap, co-founder and chief technology officer, Rubrik (Images: Rubrik)

Rubrik began trading on the New York Stock Exchange on Thursday under the ticker symbol "RBRK," unlocking the first cybersecurity IPO since September 2021. That move validates the data protection and cyber resilience markets and puts Rubrik at the center of that conversation.

See Also: Breaking Down Silos With a Holistic View of Security, Risk

The data security firm's stock is up 17.5% in its first two days of trading to $37.59 per share, raising Rubrik's valuation to $6.59 billion (see: Rubrik IPO Filing Reveals Sales Acceleration, Growing Losses).

Being publicly traded demonstrates Silicon Valley-based Rubrik's financial stability and growth potential to partners and investors alike and opens the door to acquisitions that could enhance the company's technological edge and market reach, said co-founder and CTO Arvind Nithrakashyap. The initial public offering helps solidify trust by making prospects more confident Rubrik will be around in the long run.

"Backup and cyber recovery are two different things," Nithrakashyap said. "When you talk about recovering from a cyberattack, it's not just about going to the latest backup. You have to actually figure out for the point of infection, 'Is my malware still active? How can I make sure I clean out the malware before restoring?' There's a whole bunch of questions you need to answer as part of recovering from an attack."

In this video interview with Information Security Media Group, Nithrakashyap and Chief Product Officer Anneka Gupta also discussed:

  • How Rubrik's platform brings data security and cyber recovery together;
  • What Rubrik intends to look for in potential acquisition targets;
  • How Rubrik will use IPO proceeds to enhance its resilience capabilities.

Nithrakashyap has decades of experience building storage, databases and distributed systems. He led the real-time ad infrastructure team at RocketFuel and started his career at Oracle, where he co-founded the Exadata storage platform.

Gupta has more than a decade of product and SaaS expertise, with a track record of driving revenue growth, navigating expansions to new markets, and overseeing diversity. She joined Rubrik from LiveRamp, where she was president and head of product and platforms, leading product development and go-to-market operations and strategy. Gupta sits on the board of directors for Tinuiti.

About the Author

Michael Novinson

Michael Novinson

Managing Editor, Business, ISMG

Novinson is responsible for covering the vendor and technology landscape. Prior to joining ISMG, he spent four and a half years covering all the major cybersecurity vendors at CRN, with a focus on their programs and offerings for IT service providers. He was recognized for his breaking news coverage of the August 2019 coordinated ransomware attack against local governments in Texas as well as for his continued reporting around the SolarWinds hack in late 2020 and early 2021.

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