The PagerDuty IPO is underway and it already has PD stock soaring.
Here are a few things for investors to know about the PagerDuty IPO and the company.
- The company’s stock is now trading on the New York Stock Exchange under the stock ticker “PD”.
- PagerDuty (NYSE:PD) was initially pricing its shares at $24 each.
- This would have given the company a market capitalization of $1.80 billion.
- However, the stock quickly took off and was instead sold at around $38 per share.
- This gives the company a total market capitalization of $2.70 billion.
- It’s also worth noting that this is the first major software IPO for 2019.
- However, this doesn’t make it the first “Unicorn” IPO for 2019, but the third.
- A Unicorn IPO is when a company with a valuation of $1 billion or more goes public.
- The software that PagerDuty offers is for software developers.
- This software helps the coders identify potential issues before they become a major problem.
- Some of its customers already include Netflix (NASDAQ:NFLX), Slack, which reportedly has its own IPO plans, and Gap (NYSE:GPS).
- These are only a few of the 11,000 customers that PagerDuty offers its software to.
- The company was founded back in 2009 by three previous employees of Amazon (NASDAQ:AMZN).
PD stock was up 59% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.