Tuesday, December 13, 2011

Jive Surges In IPO

Palo Alto-based Jive Software, the maker of social networking software for businesses, surged in its IPO Tuesday morning, trading as high as $16.50 in morning trading. The firm raised $161M in its offering. Jive priced at $12.00 a share last night, well above its $8.00 to $10.00 initial range, and quickly rose in morning trading on the NASDAQ Global Market. Jive is venture backed by Sequoia Capital and Kleiner Perkins Caufield & Byers.