CDN provider Fastly files for an IPO, says it had $144M in revenue, up 38% YoY, and a net loss of $31M in 2018; Fastly raised a total of $219M in VC funding (Alex Wilhelm/Crunchbase News)


Morning Markets: A dorky edition of this column focused on the Fastly S-1 filing. 

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A day after the Zoom and Pinterest IPOs took off, demonstrating strong market appetite for tech shares, Fastly publicly filed its S-1 document, kicking off the visible portion of its debut process.

Are you tired of IPOs yet? Are you bored of S-1 filings? Then you are living in the wrong year. After a slow 2014 and 2015 and 2016 and 2017 and only a passable 2018, the technology IPO market is hot. And it looks like a host of unicorns want to jump through the public offering window while it’s still open.

Fastly is the latest example of the trend.

Before we get into the top and bottom lines, let’s remind ourselves what Fastly is. Fastly’s products helps power the Internet as you know it. The firm’s “edge cloud platform” puts applications and data closer to end-users. It also sells load-balancing services, “cloud security,” and vends a content delivery network. Fastly is therefore in the background of your Internet life, helping speed up the experience.

That’s not as holy shit as products that we’ve all used like Zoom and Pinterest,