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Tech tools developer JFrog leaps 62% after raising $509 million in upsized IPO - Business Insider

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Tech tools developer JFrog leaps 62% after raising $509 million in upsized IPO

According to a Securities and Exchange Commission filing, the company intended to sell 8 million shares while investors would sell a further 3.6 million shares. These were offered at $39 to $41 per share, lifted from its prior pricing of $33 to $37.

JFrog's shares began trading on the Nasdaq Global Select market under the ticker symbol "FROG" on September 16.has said JFrog is "another terrific company with a stock that's simply too hot to handle right now. It's sizzling." "We live in a world where everybody's trying to digitize," he said. "Either you embrace technology to better engage with your customers and manage your employees, or you become somebody else's lunch."

Excitement around JFrog and Snowflake is part of a broader trend among businesses of setting up networks on web-based platforms.Snowflake netting $3.4 billionOthers include Unity, a video-game-software firm, that is expected to raise $950 million, and Sumo Logic, a data-software platform expected to raise $281 million.

 

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