Vercel, the web hosting and developer tools company, is preparing for a public listing as a surge in AI-generated applications drives growth, chief executive Guillermo Rauch told attendees at the HumanX conference in San Francisco.
Rauch said the company's annual recurring revenue had reached a $340 million run rate, up from $100 million reported previously by The Information.
He attributed the acceleration to a structural shift in who is creating and deploying software, with AI agents and non-developers now generating a growing share of demand for hosting infrastructure.
"When I started this company, only tens of millions of people could deploy," Rauch said. "Now we're seeing that everybody in the world can create an app."
Agents already account for 30% of apps deployed on the platform, Rauch said, describing them as "very prolific at deploying."
The company was last valued at $9.3 billion following a $300 million Series F funding round led by venture capital firm Accel.
Vercel competes with Cloudflare and Amazon Web Services in the hosting market, and also offers v0, a vibe-coding tool that allows users to generate websites and applications through natural language prompts.
Rauch framed the business as already operating with the discipline of a listed company, saying "Vercel is very much a work-in-public company," while declining to specify a timeline for a market debut.
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"There's no perfect timeline or quarter I can give," he said. "The company's ready and getting more ready for it every day."
The comments reflect growing appetite among late-stage technology companies to test public markets, as valuations in the AI infrastructure sector have risen sharply over the past 18 months.
The recap
- Vercel's CEO signalled the company is readying for an IPO
- ARR rose to a $340 million run rate, per Forbes
- Rauch said there is no set timeline for a listing
