Cloudera names Intel CIO Kim Stevenson to its board
Around two months ago, Intel announced a $740 million investment in Cloudera. Intel was expected to name a board member at Cloudera following the investment, but now we officially know who that person will be. Intel CIO Kim Stevenson will be taking that board seat at Cloudera. Cloudera is a software startup that specializes in using the Hadoop data analytics technology.
Intel reported on March 27th that it was leading a $900 million round of funding into Cloudera, which valued the company at over $4 billion. This gave Intel a stake of around 18% in the company. The funding was $530 million worth of new capital and $370 million worth of shares bought from existing investors. Intel has an interest in the success of the Hadoop platform because 95% of the servers that run Hadoop will have Intel chips in them based on current market share trends. Cloudera will get advanced peeks at Intel’s design plans.
Other investors in Cloudera include T. Rowe Price, MSD Capital, and Google Ventures.