HashiCorp
at
the
Nasdaq
market
site,
December
9,
2021.
Source:
Nasdaq
HashiCorp
shares
jumped
12%
in
extended
trading
on
Friday
after
Bloomberg
reported
the
software
developer
was
considering
a
sale.
The
company
has
engaged
an
outside
firm
to
explore
interest
from
potential
buyers,
Bloomberg
said,
citing
unnamed
sources.
A
company
representative
didn’t
immediately
respond
to
CNBC’s
request
for
comment.
HashiCorp,
whose
software
helps
developers
control
resources
in
public
clouds
and
data
centers,
debuted
on
the
Nasdaq
in
late
2021,
right
at
the
peak
of
the
tech
market.
The
stock
dropped
14%
last
year
while
the
S&P
500
posted
a
24%
gain.
As
of
Friday’s
close,
HashiCorp
was
trading
at
$26.50,
or
67%
below
its
initial
public
offering
price.
Its
market
cap
sits
at
around
$5
billion.
In
the
latest
quarter,
revenue
growth
slowed
to
15%
from
41%
a
year
earlier.
“We
are
behind
where
we
wanted
the
company
to
be
at
this
point
in
our
growth
cycle,
and
we
have
work
to
do,”
CEO
David
McJannet
said
on
a
conference
call
with
analysts
last
week.
Mitchell
Hashimoto,
a
co-founder
and
former
technology
chief
of
HashiCorp,
said
in
December
that
he
was
leaving
the
company.
Read
Bloomberg’s
full
report
here.
watch
now
