Wednesday, August 24, 2011

Jive Software Files For IPO

Jive Software, the developer of enterprise social networking software whose roots and development center is in Portland, has filed for an IPO. According to an S-1 filing by Jive Wednesday afternoon, it is looking to raise up to $100M in an IPO. The firm said it has filed to trade as JIVE, but has yet to select an exchange. The firm's IPO is being underwritten by Morgan Stanley, Goldman Sachs & Co., Citigroup, UBS Investment Bank, BMO Capital Markets, and Wells Fargo Securities. Jive had been rumored to be hiring investment bankers for an IPO earlier this month. Jive is backed by Sequoia Capital and Kleiner Perkins Caufield & Byers.