Inc. 500 Payroll-Data Firm Soars on IPO

 

Feb. 16, 2007 -- Salary.com, a Waltham, Mass.-based company payroll-data firm, raised nearly $60 million selling 5.7 million shares in its first day of public trading on Thursday.

The company's initial public offering of 5.7 million shares of common stock at $10.50 per share rose 19 percent, or $2, by the end of the day on Nasdaq, under the trading symbol SLRY.

Part of proceeds of the IPO will be used to repay accumulated debt, the company said.

Salary.com ranked No. 417 on the 2006 Inc. 500 list of the nation's fastest-growing private companies. The previous year it ranked No. 95.

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