German rival to Slack pulls off Europe’s IPO of the year.
The German tech firm TeamViewer pulled off Europe’s biggest initial public offering of 2019 on the Frankfurt stock exchange on Wednesday. TeamViewer priced its IPO at €26.25 euros per share. Launched in 2005, TeamViewer focuses on cloud-based technologies to enable online remote support and collaboration globally. Hostingtribunal.com put together a list of market highlights:
- The global cloud computing market is forecast to go over $200 billion in 2019.
- Cloud initiatives are expected to account for 70% of all tech spending by 2020.
- As much as 80% of organizations are predicted to migrate toward the cloud by 2025.
- In 2018, public cloud adoption grew to 92%.
- IaaS is expected to reach $72.4 billion worldwide by 2020.
- Serverless had a market share of 50% in 2018, making it the fastest growing extended cloud service.
- As many as 84% of enterprises run on a multi-cloud strategy.
According to the company official website, their view is that “to thrive now and in the coming years, businesses and individuals need remote desktop support, remote access, and online collaboration to be able to connect worldwide. TeamViewer promotes itself as an innovative tech company at the forefront of that innovation. We’ll see if the IPO proves it.