Coupa Software shares more than double in market debut
Shares of Coupa Software Inc (COUP.O), a U.S. maker of cloud-based software that helps companies manage spending, more than doubled in their debut on Thursday, underscoring strong market appetite for IPOs by tech companies - even unprofitable ones.
Coupa's stock rose to a high of $39.50 in early trading on the Nasdaq, valuing the company at $1.9 billion.
The offering of 7.4 million shares was priced at the top end of the expected range of $16-$18, raising about $133 million for the San Mateo, California-based company.
Coupa's successful launch comes less than a week after shares of data... read more
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