After $740 Million Investment, Cloudera Names Intel CIO to Its Board
It’s been about two months since the chipmaker Intel announced its massive $740 million investment in the analytics software startup Cloudera. At the time, you’ll remember, the two companies put off naming the person who would occupy Intel’s seat on Cloudera’s board of directors.
That ended today, as they announced that Intel CIO Kim Stevenson (pictured) will be that person.
Cloudera is the white-hot software startup that specializes in the open-source data analytics technology called Hadoop that companies are adopting as a way of taking control of their massive troves of data.
On March 27, Intel announced that it would lead a $900 million round of funding in Cloudera that valued it at north of $4 billion, enough for a stake in the company amounting to about 18 percent.
The announcement also included new details of the funding breakdown: There was $530 million worth of new capital and $370 million worth of shares purchased from existing investors. There’s still no word on which investors sold.
For Intel the deal is intended, over the long term, to encourage sales of servers that run Hadoop, roughly 95 percent of which will have Intel chips in them (assuming current market share trends hold). Cloudera, for its part, is tuning its software to run on the latest Intel Xeon server chips and will get an advance peek at Intel’s design plans going forward.
Other investors in the funding round included T. Rowe Price, MSD Capital (Michael Dell’s personal investment firm) and Google Ventures.
Cloudera’s investment followed a large round for rival Hortonworks, another player in the Hadoop space, which had raised $100 million from Blackrock and Passport Capital.