Tech IPO Market Rebounds, with Less Froth
Remember when investors shunned tech IPOs?
This spring’s tech offering drought felt like a thing of the past when network equipment maker Arista Networks debuted last week at $43 a share, well above its $40 target. Security software maker MobileIron priced at the middle of its range and gained 22.4% to end its first day of trading at $11.02.
Chinese Internet company JD.com’s valuation of $25.7 billion exceeded expectations when it priced last month. Trendy camera maker GoPro, whose suggested price range values the company at around $3 billion, is hoping for a lot of demand.