Tuesday, December 13, 2011

Jive Rises In IPO

Jive Software, the maker of social networking software for businesses which started in Portland, had a great debut on the NASDAQ Global Market this morning, trading as high as $16.50 in morning trading. The firm priced at $12.00 last night, above its initial $8 to $10 estimated trading range. Jive is backed by Sequoia Capital and Kleiner Perkins Caufield & Byers; the firm's IPO was underwritten by Morgan Stanley, Goldman Sachs & Co., Citigroup, UBS Investment Bank, BMO Capital Markets, and Wells Fargo Securities. Jive's headquarters are now in Palo Alto, although it continues to have operations in Portland.