Private Equity
Cloudflare Inc. priced shares in its initial public offering at $15 Thursday evening, higher than a target range that had already been raised. Cloudflare, a cloud-based network-security platform, initially aimed to sell shares at $10 to $12, but raised that target to $12 to $14 earlier this week. At the $15 share price, Cloudflare will raise at least $525 million at an initial market valuation of $4.4 billion. Underwriters -- led by Goldman Sachs, Morgan Stanley and JP Morgan -- have access to an additional 5.25 million shares that could push those totals higher.

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