Datto has filed for an IPO, ending speculation that they would do so. They are listing under the ticker symbol “MSP”, and from their filing, note they serve 16,100 MSPs and estimate that the worldwide market is 125,000 MSPs.
Why do we care?
We rather don’t, and I’ll just quickly offer a few thoughts as to why.
I’m seeing quotes out there saying this is a “major validation” of the managed services industry – and those quotes are by those who are invested in having their own IPOs or investments later.
This is a great time for a profitable technology company to enter the IPO market, because there is a lot of capital looking for a place to invest. I think their investors will do really well.
I don’t think that will matter for providers.
Last thought. Their stock ticker name – if they own the moniker MSP on the stock market, they’re looking to be the stand in for their customers. Yeah, I’m not so much a fan of that, and I suspect you don’t need them to speak for your MSP either.
Source: Channel E2E