Wall Street got itself another great enterprise tech IPO today with Infoblox.
Demand was so strong for shares that it opened at $16, higher than its initial target and immediately soared to $22.
Infoblox CEO Robert Thomas has 2,983,882 shares, which means his net worth got a nice shot in the arm to the tune of about $67 million.
This isn’t his first IPO. He was CEO of NetScreen Technologies which IPO’d in 2001 and then sold to Juniper Networks in 2004 in a $4 billion deal.
We caught up with Thomas today to find out what it felt like to bring another company public in the post bubble era.
The easiest explanation: It’s exhausting and exhilarating.
For the past two weeks, he’s been on the road pumping up investors about the company. Up at 5 a.m., last meeting at 1 a.m., on the phone every spare minute in between. Explaining and explaining what the heck Infoblox does. (It sells products that help keeps corporate networks running.)
“It’s like Ground Hog Day,” Thomas laughs, referring to the famous Bill Murray movie where a poor schmuck winds up repeating the same day over and over again.
“And the thing I found surprising — and I don’t want to sound gooey but it was really heart warming, people really got out story. We sell a complex product so I was surprised,” he said.
There was one key moment when he knew that all the talking was working. In between face-to-face meetings, he was on the phone with an investor who told him: “You don’t need to tell me what you do. I want to invest. Yesterday, our DNS went down and took the whole company for four hours.”
So what’s the first thing he’s going to do with all the money? He’s got no clue. “The first thing I’m going to do is sleep … for hours.”