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DigitalOcean seeks $800m in funding

Cloud provider DigitalOcean is looking to raise $800 million in an underwritten offering.Comprising more than 10.38 million shares, the offering was increased on March 25, up from $700m, and expected to close the following day on March 26.DigitalOcean will use the funding to invest in additional capacity "beyond what it has already communicated," which will in turn help the company to meet demand for its cloud and AI platform. Additionally, the funding will help to pay down its existing loan and...

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