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IS in Silicon Valley. JFrog logo on headquarters.
Andreanescu / Dreamtime
Jeffrog
According to sources close to the deal, the initial public offering price of 11.6 million shares rose from 39 39 to ડ 41 in early trading on Tuesday. The original target range for this offer was $ 33 to 37. The stock was indicated at $ 85 before 11 a.m., but has since fallen to $ 70.
The Israeli-born Sunnyvale, headquartered in California, provides a platform for “Software Release Management” or CSRM, making it easy for software companies to provide customers with the most current version of their program. The company is offering 11.6 million shares, of which 8 million are for sale to the company and the rest to sellers.
Jeff Frog June0. June posted millions of dollars of revenue in the six months ended June0, up 50% from the previous period. For the full year ended December 31, revenue was up 65% to 104.7 million.
At the prologue price, Jeffrog is collecting $ 352 million, not counting sellers, valued the company at about 4 4 billion. JFrog will list on the Nasdaq with the symbol of FROG. The company was valued at 1.5 billion in a recent private round.
Jeffrog raised 22 6,226.5 million from a group of venture investors including Gemini Israel Ventures, Scale Venture Partners, Sapphire Ventures Fund, Insight Partners,
Dell Technologies
(Ticker: DELL), and Kumara Capital. Leading banks in the deal include Morgan Stanley, JPMorgan and Bank of America.
It’s been a big week for the accompanying IPO
Snowflake
(SNOW) and others going public.
Write to Eric J. Sweeties at [email protected] and Louisa Beltran at [email protected]
.
