Thursday, April 19, 2012

Ignition Portfolio Firm Splunk Has Stunning IPO Debut

Investors over at Ignition Partners are bound to be celebrating this morning, as one of its portfolio firms, Splunk, had a stunning IPO debut, rising to nearly double its IPO debut price. Splunk debuted this morning at $17.00, and was trading over $32.00 a share in morning trading. The developer of enterprise indexing software had priced well above its initial $11.00 to $13.00 estimated IPO range, which itself had been upgraded from an earlier $8.00 to $10.00 per share earlier this week. Ignition owned about 12.3 percent of Splunk before its IPO.