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JFrog IPO Priced at $44. Here’s Where the Stock Finished Trading.

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JFrog logo at iys headquarters in Silicon Valley.


Andreistanescu/Dreamstime.com


JFrog

had a very successful debut on the stock market.

Late Tuesday, Jfrog priced an initial public offering of 11.6 million shares at $44, according to sources close to the deal, above the recently increased price talk range of $39 to $41 a share. The original target range for the offering had been $33 to $37 a share. The stock opened at $71.27, up 62% from its offering price, and finished the day at $64.79, up 47%.

The company, born in Israel but with headquarters in Sunnyvale, Calif., provides a platform for “continuous software release management,” or CSRM, making it easier for software companies to provide customers with the most current version of their programs. The company is offering 11.6 million shares, 8 million of those for the company and the rest for selling holders.

JFrog posted revenue for the six months ended June 30 of $69.3 million, up 50% from the prior period. For the full year ended Dec. 31, revenue was $104.7 million, up 65%.

At the offering price, JFrog is raising $352 million, not counting the selling holders, valuing the company at about $4 billion. JFrog will list on Nasdaq with the symbol FROG. The company was valued at $1.5 billion in its most recent private round.

JFrog raised $226.5 million from a group of venture investors that included Gemini Israel Ventures, Scale Venture Partners, Sapphire Ventures Fund, Insight Partners,

Dell Technologies

(ticker: DELL), and Qumra Capital. Banks leading the deal include Morgan Stanley, J.P. Morgan, and Bank of America.

It’s a big week for IPOs with

Snowflake

(SNOW) and others also going public.

Write to Eric J. Savitz at [email protected] and Luisa Beltran at [email protected]

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