Jive Software Shares Jump 27% On First Trade and Now Valued At Over $800 Million
@amitchowdhry or on Google+ at +AmitChowdhry
Jive Software, Inc. is a social enterprise company that has started trading on the stock market today on the Nasdaq with the symbol “JIVE.” The company priced their IPO at $12 per share, which started the company off at a valuation that was over $600 million. Currently the stock price is trading at about $15.70, which values the company at over $800 million.
Jive Software raised about $161 million in the IPO and they previously raised $57 million in funding. Existing investors Sequoia and Kleiner Perkins put $40 million in Jive Software this past October. Jive sold about 13.4 million shares in the IPO, which is higher than the 11.7 million shares they were originally planning on selling. This is not the first time that Jive CEO Tony Zingale has lead a public company. He has been a public company CEO twice and has served on 6 public company boards.