DigitalOcean was founded in June 2011 by Ben Uretsky, Moisey Uretsky, Alec Hartman, Mitch Wainer, and Jeff Carr. In a blog from February 2018, then-CEO Ben Uretsky referred to an IPO as “a long-term goal we have frequently discussed internally.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
DigitalOcean is a cloud infrastructure provider for developers. In a press release from September 2019, the company stated it has $250 million in revenue run rate, representing more than 500,000 customers. The company has raised nearly $175 million in Venture Capital funding from investors including Black River Ventures, Torch Capital, Access Technology Ventures, Andreessen Hotowitz, IA Ventures, and Tuesday Capital. Per company press releases, DigitalOcean last raised $50 million in May 2020 at a post-money valuation of nearly $1.15 billion.