Sept 17 (Reuters) - Datadog Inc said on Tuesday it was looking to raise about $718 million in an initial public offering that could value the data analytics and cloud monitoring company at more than $7 billion.
Datadog counts companies such as Biogen, Comcast , Deloitte and Twitter among its customers and competes with industry behemoths such as Amazon.com Inc's AWS and Microsoft Corp's Azure.
New York-based Datadog will offer about 24 million shares at between $24 and $26, the company said in a regulatory filing, adding that it may use the proceeds from the offering for general corporate expenses. (bit.ly/2lXBa8Q)
The valuation has been calculated taking into account 289.8 million outstanding shares, which comprise Class-A and Class-B common stock.
The company's revenue had nearly doubled to $198.1 million in 2018 from a year earlier. In the same period, its net loss widened to $10.8 million from $2.6 million.
Datadog counts the likes of T. Rowe Price Associates, Dragoneer Investment Group, Index Ventures, ICONIQ Capital Management and Institutional Venture Partners among its investors.
Morgan Stanley, J.P. Morgan and Goldman Sachs are the IPO's lead underwriters. (Reporting by Abhishek Manikandan in Bengaluru; Editing by Maju Samuel)