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Marketo Shares Jump 57% in IPO

  |  May 17, 2013   |  Comments

Marketing automation software provider, Marketo, leaped onto the Nasdaq today with shares jumping by as much as 57 percent after the company raised $79 million in its initial public offering (IPO).

Marketing automation software provider, Marketo, leaped onto the Nasdaq today with shares jumping by as much as 57 percent after the company raised $79 million in its initial public offering (IPO).

The San Manteo company sold 6.1 million shares at $13, which was at the high-end of its target range of between $11 and $13. The company's underwriters also have the option to buy up to 908,926 shares within the next 30 days at the IPO price.

This gave it a market cap of about $540 million going into its first day of trading. That market cap soared to more than $700 million as the stock rose to as high as $20.42 in early trading.

Marketo filed for a $75 million IPO in April earlier this year. Prior to that, the company raised $108 million in venture capital funding from big players including Battery Ventures, Institutional Venture Partners, InterWest Partners, Mayfield Fund, and Storm Ventures.

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ABOUT THE AUTHOR

Melanie White

Melanie White is the Editor of ClickZ, where she has worked since July 2012. White has been with Incisive Media (ClickZ's parent company) since 2009 where she was Deputy Editor/ US Editor for one of the financial risk management titles, International Custody and Fund Administration (later Custody Risk).

In addition, White worked on FX Week where she was a Senior Reporter. She has also worked and contributed to a number of other titles, including The Accountant, International Accounting Bulletin, the New York Post, Independent Magazine (UK), as well as the broadcast title Sunday Live with Adam Boulton at Sky News.

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