Jive Software is the latest stock to pop after an oversubscribed IPO. Shares finished above $15 — a 25% jump from its IPO pricing of $12The company was planning to price between $8 and $10 but raised the price after the offering was oversubscribed.
Jive makes software for employees to collaborate. The company is not profitable — it lost $38 million in the first nine months of the year — but its revenue has been growing around 60% for the last two years. Perhaps more important, its the first of the new breed of enterprise software companies to go public.
Big first-day pops are common: most recently, Angie’s List had a 24% pop on its first day, and Groupon launched with a 31% jump. Both stocks fell back to earth, but are still above their IPO prices.
Want to find out more about that bottle of scotch? Check out our tour of Jive Software.
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