Friday, September 23, 2016

Apptio Prices IPO, To Debut Today On Markets

Seattle-based Apptio has priced its IPO at $16.00 per share, and will start trading on the NASDAQ Global Market this morning as APTI. The company priced its IPO above its earlier, estimated IPO pricing range of between $13.00 and $15.00 per share. Apptio raises $96M in the offering for the company. Apptio is venture backed by Greylock Partners, Madrona Ventures, and Shasta Ventures. The IPO is being underwritten by Goldman, Sachs & Co., J.P. Morgan, BofA Merrill Lync, Barclays, Jefferies, RBC Capital Markets, and Pacific Crest Securities. Apptio develops business and IT management software, and is led by CEO Sunny Gupta.