The Datadog IPO is complete and the company is now trading on the NASDAQ.
Here’s what to know about the Datadog IPO.
- The company is trading on the NASDAQ under the stock ticker “DDOG.”
- The Datadog (NASDAQ:DDOG) IPO priced shares of DDOG at $27.
- This is well above the company’s initial range of $19 to $22, which was later revised to $24 to $26.
- There were a total of 24 million shares of DDOG stock that were available in the IPO.
- With those all selling, this has the Datadog IPO raising $648 million in funds for the company.
- There’s also still an option available that allows underwriters of the IPO to buy and additional 3.60 million shares.
- That’s another possible $97.20 million for the company.
- The underwriters for this IPO are Morgan Stanley, Goldman Sachs, J.P. Morgan chase and Credit Suisse.
- Holders of Class A shares get one vote each and those with Class B shares get 10 votes each.
- Datadog was founded back in 2010 and it deals in cloud software.
- This includes data and analytics monitoring tools.
- It sells these tools through subscription services to various businesses.
- The first half of 2019 has seen the company lose a total of $13 million.
- However, its revenue for that same period of time is $153 million with gross margin coming in at 74%.
- That’ almost double the company’s revenue of $85 million reported during the same time last year.
DDOG stock was up 37% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.