Zendesk Inc (ZEN) stock surges 49% on first trading day
Zendesk Inc (NYSE:ZEN) stock has surged 49% today as the cloud-based customer service software provided debuted on the New York Stock Exchange to close at $13.43 per share, which is up $4.43 after pricing the stock at $9 the previous night. Zendesk raised $100 million in the share sale.
Zendesk reported a loss of $22.6 million for 2013, less than its loss of $24.4 million a year earlier. Zendesk’s annual revenue increased 88% to $72 million with the number of customer accounts hitting 40,000.
Zendesk was founded in 2007 in Denmark and then relocated to San Francisco. As of December 31st, Zendesk had around 473 employees.
Prior to the IPO, Zendesk raised $86 million in venture capital from Charles River Ventures, Benchmark Capital, and Matrix Partners.