Big Data Startup Hortonworks Files For An IPO

Hortonworks, the maker of Apache Hadoop big data software, has just filed for an IPO, becoming the first Hadoop company to do so.

According to the filing, Hortonwork’s sales grew to $US33.4 million, up from $US10.9 million the year before. It had a net loss of $US86.7 million, which was greater than its $US36.6 million loss the year prior.

Hadoop is one of the hottest open source frameworks for storing and analysing chunks of data. It helps developers and enterprises to build solutions for what many call “big data,” which has become a multi-billion dollar industry. IDC predicts the big data market will become a $US100 billion industry by 2020, with Hadoop comprising half of its value.

Hortonworks is widely considered one of the two leading companies in this field, alongside Cloudera. It came from Yahoo. It was spun out in 2011 with initial investments from Yahoo and Benchmark Capital. It’s raised roughly $US248 million so far, with Yahoo owning the largest shares at 20%.

Recode’s Arik Hesseldahl first reported the filing.

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