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Ann Arbor Spark

November 7, 2013

Barracuda Networks Posts Successful IPO, Continues to Thrive in Ann Arbor

Ann Arbor SPARK would like to congratulate Barracuda Networks on posting a successful IPO yesterday. Barracuda’s public debut brought in an impressive $75 million, and by the time the closing bell rang, shares were at $21.50.

The cloud-based security and storage company recently reaffirmed its commitment to the Ann Arbor region, expanding into the former Borders building in downtown Ann Arbor and creating 184 high tech jobs in the region. Ann Arbor SPARK continues to work with Barracuda throughout its aggressive growth.

“It’s always exciting when a local business has a successful IPO. Congratulations to Barracuda on being the most recent example of this type of success,” said Paul Krutko, Ann Arbor SPARK president and CEO.  “Barracuda Networks brought new life to a visibly vacant downtown building, and is contributing to the vibrant, growing technology corridor in Ann Arbor. Ann Arbor SPARK’s work with Barracuda Networks shows how proactive economic development can yield positive, measurable outcomes for our region.”

Read more about Barracuda’s expansion at this link.