cloud data management company informatica. I'm making its market
debut on the new york stock exchange today under the
ticker symbol I. N. F. A.
Right now shares are trading after opening at$27.55 and
pricing shares at$29 apiece. Pretty flat. Right
now, if you take a look at the shares
, This is the second time the company has gone
public after being founded back in 1993. It then
went private in a$5 billion 2015. Well now
it's reentering public markets as a subscription business. With
a push to the cloud informatica, Ceo Amit walia
joins us now. Um It welcome to the show
. Such a pleasure to have you. Can you
get into more detail about what informatica does and who
your customers are here. Pleasure to be back on
closing bell. You know it's a second time here
. I was there an opening bell some time ago
. So it's always a pleasure to be back here
. Look, first of all I want to thank
my employees and our customers and partners is a great
day for informatica. Now to your question like what
we do is simply turn our customers data dreams into
reality. So we have the platform called intelligent cloud
data management uh I. D. M. C
. With claire as our ai embedded in that and
with the help of that we're helping customers like a
Kroger or a Unilever or FDA or eli lilly manage
the data. Whether it is managing complex supply chains
like for example creating real time analytics around supply chain
data to get the right product on the shelf at
the right time for Kruger Or managing a 90 countries
spread supply chain for Unilever or real time analytics and
governance for Eli Lilly to make sure you get the
right data in a trusted governed and management. That's
what we do for 5000 plus customers across the globe
. I want to talk about your trademark software,
it's called the intelligent data management cloud. I mean
can you offer us some more details about this?
Yeah. So think of it this way this is
a platform that has seven product market categories and has
a I embedded with it And we have 50,000 plus
connectors to be the Switzerland of data and we are
the best of breed. We have, you know
, we are the only software company on the planet
to be the innovation leader uh to be the leader
in all five magic quadrants we compete in and whether
it is ingesting data, you know, or managing
its quality, creating a golden record of you and
I you know, are are basically making sure we
can do governance and privacy on it. That's what
we do uh across the globe for some of the
largest enterprises or even the nameless took start small with
us and grow into becoming large customers of ours.
We mentioned that you guys are re entering the market
. How is informatica evolved since its first I P
O. And then of course going private fundamentally different
. So you know we've got a single product On
premise license company when we went private in 2015 and
we to be honest what we've done is uh once
in a generational transformation of building a new company which
is a platform company many many more products which cover
$44 billion town embedded ai which is now cloud first
running at scale of 22 trillion cloud transactions a month
, doubling every 6 to 12 months and fully completed
the business model transformation to recurring revenue. We are
90% recurring revenue and the rest is only services and
we've completed all of that transformation so now it's a
whole new growth chapter ahead of us. That leads
me to my next question why push to the cloud
and go public now and meet as you stand at
the new york stock exchange. I mean look we
have the ailments of digital transformation every company, you
know they want to as I said leverage data to
become uh more unique in their own industries and it's
all about democratizing data, it's all about managing this
fragmented data, it's all about managing it in a
government trusted way that's what we do. So the
ailments of that are behind us. Second is our
amazing uh you know place in this marketplace where we
sit as the Switzerland of data, working with the
Azure uh Azure Microsoft, Snowflake Aws Gcpd data breaks
working with all of them in deep partnerships. And
last as I said, we have fully completed the
transformation to being a subscription uh recording revenue companies.
So we kind of felt terrific and great at a
time where we can go out again. So the
company reported a net debt of$2.77 billion. That's
as of june so while the I. P.
O. Proceeds to what will the I. P
. O. Be used to pay off this debt
? And what else will it be used for pay
our debt? So look, we are a very
profitable company with a unique company. We're going out
an I. P. O. But we have
25% free cash flow margins so we can all retire
the debt from this race that we've done. It
gives us more flexibility and obviously we make enough money
to run a business and we are pretty good from
a part of your growth. I. P.
O. Is priced at the low end of expectations
. Are you happy with how the I. P
. O. Came together? And the price as
we know, the company fell of its goal to
raise$928 million but still fetching evaluation of 10 billion
. So are you happy with the way the I
. P. O. Did come together here?
I'm really thrilled. You know, one of the
things that work for us was we had two very
patient investors when we went private that allowed us to
transform the company and grow baby are now, as
I said, it's a unique transformation and as we're
going forward, we're building a base with some great
investors going forward who are all patient, long term
growth oriented investors. So I couldn't be more thrilled
with what I have and and a great debut that
we had today. What is next for informatica?
I mean growth. So look, there are two
things we continue to innovate where the leader and the
only thing we can do is manage that and continue
to lead more in terms of innovation. And number
two is basically always delight our customers. Those are
the two pillars on which the company is built,
great products innovation and great customer success and of course
great values and great talent across the globe that makes
it all real and that's what we're gonna continue to
execute on. Well you've been on opening bell,
closing bell. We hope you come back. And
meanwhile, yes, ceo of informatica. Congratulations.
Thank you again. I meet