Wednesday, April 5, 2017

Okta Bumps Estimated IPO Pricing

San Francisco-based Okta, which develops secure identity management software, has bumped its estimated IPO pricing, saying in a filing this morning that it now expects its IPO to price at between $15.00 and $17.00 per share. The company, led by CEO Todd MacKinnon, had earlier set an estimated IPO range of $13.00 to $15.00, indicating strong interest during the company's road show. The company is venture backed by Sequoia Capital (21.2% ownership), Andreessen Horowitz (19.6%), Greylock (16.9%), and Khosla Ventures (8.1%), among others.