Social enterprise giant Jive Software started trading this morning on the Nasdaq under the symbol ‘JIVE.’ The company priced its IPO last night at$12 per share, giving the company a $600 million. -plus valuation. Jive originally set the range between $8 and $10 per share. This morning Jive opened at $15.12 per share, up 27 percent from its pricing. At $15.12, Jive would be valued at over $800 million.
Jive, which raised $161 million in the offering, had previously raised $57 million in funding, but in October existing investors Sequoia and Kleiner Perkins invested $40 million more in the company. Jive sold13.4 million shares, up from the 11.7 million shares originally planned.
Founded in 2001, Jive has been at the forefront of blending social with enterprise software. Modeled to offer Facebook-like features to enterprises, Jive’s software combines computing with social collaboration to offer fully-featured social networks for businesses. Its suite of applications help businesses collaborate on a variety of tasks, including holding discussions, communication, sharing documents, blogging, running polls, and social networking features and more.
Earlier this year, Jive added four new board members including former McAfee chairman Charles Robel, former McAfee CEO Dave DeWalt, Facebook’s vice president of technical operations Jonathan Heiliger and Google’s vice president of product management Sundar Pichai.
For the year ended December 31, 2010 and for the nine months ended September 30, 2011, Jive’s total revenues were $46.3 million and $54.8 million, respectively. The company saw net losses of $27.6 million and $38.1 million for the years ended December 31, 2010, and for the nine months ended September 30, 2011, respectively.
For Jive’s CEO Tony Zingale, leading a public company isn’t a new experience. He’s already been a public company CEO twice and served on six public company boards.
Jive, which raised $161 million in the offering, had previously raised $57 million in funding, but in October existing investors Sequoia and Kleiner Perkins invested $40 million more in the company. Jive sold13.4 million shares, up from the 11.7 million shares originally planned.
Founded in 2001, Jive has been at the forefront of blending social with enterprise software. Modeled to offer Facebook-like features to enterprises, Jive’s software combines computing with social collaboration to offer fully-featured social networks for businesses. Its suite of applications help businesses collaborate on a variety of tasks, including holding discussions, communication, sharing documents, blogging, running polls, and social networking features and more.
Earlier this year, Jive added four new board members including former McAfee chairman Charles Robel, former McAfee CEO Dave DeWalt, Facebook’s vice president of technical operations Jonathan Heiliger and Google’s vice president of product management Sundar Pichai.
For the year ended December 31, 2010 and for the nine months ended September 30, 2011, Jive’s total revenues were $46.3 million and $54.8 million, respectively. The company saw net losses of $27.6 million and $38.1 million for the years ended December 31, 2010, and for the nine months ended September 30, 2011, respectively.
For Jive’s CEO Tony Zingale, leading a public company isn’t a new experience. He’s already been a public company CEO twice and served on six public company boards.
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