DuPont Fabros is a mega operator of wholesale data centers.
When it talked to upstart Facebook, there was actually some skepticism. Would Facebook hit critical mass? Well, DuPont took a bet on the company – and it's certainly paid off.
In fact, DuPont has other top-notch customers, like Microsoft (NASDAQ: MSFT), Yahoo (NASDAQ: YHOO), and Google (NASDAQ: GOOG).
And, now DuPont has achieved another milestone; that is, the company went public today -- the ticker is "DFT". The company raised about $640 million.
DuPont focuses on long-term triple-net leases (which, of course, contain nice annual rental increases). A key differentiator is the focus on power capacity. Interestingly, part of the business model includes charging for power usage.
Although, there is signficant customer concentration. For example, about 86% of annualized rent comes from Microsoft and Yahoo.
So far today, shares of DuPont are up about 6.5% to $22.29.
Also visit DealProfiles.com if you want to check out other recent IPO activity.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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