[Globes]: Palo Alto Networks IPO Plans - Market Cap of $1-2B

   

Palo Alto Networks will submit its S-1 prospectus to the SEC later this year, and expects market cap of $1-2B.

The founder and CTO, Nir Zuk (picture), told the Israeli business site, Globes, that revenues for 2010 were $100M and the company expects revenues of $200M in 2011, with 60-70% margin.

Reported by Shmulik Shelach here (Hebrew).

Zuk explained that the company's "next generation firewalls" look deep into web application in order to secure enterprises' internet access.