A pair of entrepreneurial tech firms took a crack at the IPO market yesterday--and found it to their liking. "Riverbed Technology Inc. broke though what has been an ice-cold market for venture-backed initial public offerings Thursday, Sept. 21, as the company debuted 48% above its price range," the Deal.com reports. The four-year-old company, which is based in San Francisco, went public on the Nasdaq exchange and trades as RVBD. One of the original co-founders remains chairman and CEO. Riverbed makes technology that helps large corporations transfer data more quickly.
Meanwhile, Reuters reports that "Media software maker DivX Inc. on Thursday raised $145.6 million with an initial public offering that priced above its forecast range, according to an underwriter. The 9.1 million share offering, which represents about a 27 percent stake in the company, sold for $16 per share compared with a $12 to $14 forecast." DivX is based in San Diego and, like Riverbed, is founder-run. The company is trading under the symbol DIVX.
Last updated: Sep 22, 2006
MIKE HOFMAN was previously editor of Inc.com and a deputy editor at Inc. magazine, which he joined in 1996. The site was nominated for a National Magazine Award for Digital Media in 2010, and was named the best business website by Folio Magazine. In 2006, Hofman was part of a team of writers nominated for a Webby Award for best business blog. He lives in New York City. @mikehofman