Cloud, edge and decentralized computing Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Cloud, edge and decentralized computing

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Glenn Petersen	5/15/2014 1:45:33 PM
	of 1685

Zendesk Shares Soar in Debut By WILLIAM ALDEN DealBook New York Times May 15, 2014, 11:28 am Zendesk, a cloud-based software start-up, had a buoyant trading debut on Thursday, defying a broader slump in the shares of young companies. Shares of Zendesk rose 27 percent at the start of trading on Thursday and continued climbing during the morning, reaching a high of almost 50 percent above the initial public offering price. The shares are trading under the ticker symbol ZEN on the New York Stock Exchange. The I.P.O. was priced at $9 a share on Wednesday evening, the midpoint of an expected range. The offering raised about $100 million and valued the company at $632 million. Investors in recent weeks have been skittish when it comes to I.P.O.s, causing a number of deals to price below their expected ranges. The stocks of highflying technology companies have also come under pressure in the last couple months. But Zendesk, which sells software to help companies with customer support, is receiving a warm reception so far. Founded in 2007, Zendesk had revenue of $72 million last year but reported a $22.6 million loss. Goldman Sachs, Morgan Stanley and Credit Suisse are leading the underwriting of the offering. dealbook.nytimes.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next