You Saw What Splunk Did Today? Now Get Ready For The Next Hot Enterprise IPO


If investors are paying attention in the enterprise market (and it looks like they are, based on Splunk’s performance), Infoblox should have a good IPO tomorrow.

Infoblox hopes to raise $106 million with about 1.8 million shares at a price between $12 and $14 a share, according to its S1. That will give it a valuation of around $600 million.

It will trade on the New York Stock Exchange under the symbol BLOX.

For the six months that ended Jan. 31, its net revenue rose 31% to $80.7 million. It reported a net loss of $2.8 million, compared with a loss of $132,000 in the same period a year earlier. The company did post some profits in 2010.

Infoblox has over 5,400 customers, it says.

It makes products that automate the management of networks. That’s important stuff as companies move to the cloud, but Infoblox has a secret weapon, too. It makes products that will help companies convert to the next version of the Internet, IPv6 (or Internet Protocol version 6).

In the next few years companies will be in dire need of help in getting on IPv6. Today’s version of the Internet, IPv4, is not compatible with the next one. (By the way, there was no IPv5 — or there was, but it was scrapped pretty fast.)

The world has run out of IPv4 addresses, so as developing countries start buying mobile phones and launching new websites and as we buy Internet-enabled refrigerators and digital photo frames, there will be no way to get those things on Internet without IPv6.

IPv6 addresses are huge and complicated — it’s not the kind of thing an enterprise is going to do the way they did IPv4, with a spreadsheet.

It all adds up to a good outlook for Infoblox tomorrow and beyond.

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