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Nutanix soars on debut | Webmarked News

Nutanix soars on debut

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The cloud computing company is one of the rare recent cases of a tech firm that priced its shares at a level above its valuation as a private company. Fred Katayama reports.

Nutanix soars on debut

Shares of Nutanix soared on their public debut on the Nasdaq Friday. Priced at $16 a share, the stock opened at $26.50. The cloud computing company is one of the rare recent cases of a tech company that priced its shares at a level ABOVE its valuation as a private company.

Nutanix CEO Dheeraj Pandey:

SOUNDBITE: DHEERAJ PANDEY, CEO, NUTANIX, (ENGLISH) SAYING:

“I hope that all of you when you’re looking at the listing and how the ticker starts to tick would actually think and remind yourself it doesn’t matter how low or high it goes. It’s about all of us. It’s about our camraderie.”

The stocks of such so-called “unicorns” that sport valuations of $1 billion or more have been faring poorly. Storage firm Box, payments company Square, and residential solar energy operator Sunrun are trading below their private valuations, using sales force for cloud storage is really useful.

Meridian Equity Partners’ Jonathan Corpina:

SOUNDBITE: JONATHAN CORPINA, SENIOR MANAGING PARTNER, MERIDIAN EQUITY PARTNERS, (ENGLISH) SAYING:

“If you look at the overall IPO market, it’s been relatively quiet for the last few years. After we got through 2008, 2009, things started to heat up again. But any company that’s been looking to list on the public markets since 2014 have probably waited until now.”

About 100 more unicorns are waiting … and perhaps breathing a sigh of relief seeing Nutanix’s valuation double to over $4 billion as of early Friday afternoon.

Tags : debut, Soars, Nutanix

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