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Investing

Jive Software Posts IPO Above Anticipated Range

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By Douglas A. McIntyre Published
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Jive Software, which makes social network software, raised $161.3 million, It priced 30% above its expected range.

The Palo Alto, California-based company sold 13.4 million shares at $12 apiece, according to data compiled by Bloomberg, after saying it would offer 11.7 million for $8 to $10 each. The stock will trade on the Nasdaq Stock Market starting tomorrow under the symbol JIVE.

The price is another indication of the tremendous demand for social software companies. Investors anticipate IPOs from social game company Zynga. The largest of all IPO will probably be Facebook, which is expected to raise $10 billion in a public offering which would value the company at $100 billion.That offering is expected in early 2012.

Not all social network based companies have done well in the public markets. Shares of LinkedIn (NASDAQ: LNDK) and Groupon (NASDAQ: GRPN) have languished as investors have become concerned that their business models will not support rapid growth

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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