Customer experience management platform Medallia (NYSE: MDLA) rose more than 70% on the New York Stock Exchange on Friday.
The company's two-decade business price was about $ 21 each, the highest range within its proposed range, on Thursday evening and traded as high as $ 39.54 the following morning. Medallia Closed nearly 76% at about $ 37 a share on Friday.
Medallia sold a total of 15.5 million shares in the IPO and raised $ 326 million in the valuation of $ 2.5 billion in the process.
San Mateo's Medallia, led by CEO Leslie Street, runs a platform designed to help companies deliver better to their customers. Its core product, Medallia Experience Cloud, provides real-time employee data for customers gathered from online review sites and social media. The service benefits from these data to provide insights and tools to improve customer experiences.
The company supports four investment capital companies: Sequoia Capital – which owns nearly 40% pre-IPO – Saints Capital, TriplePoint Venture Growth and Grotmol Solutions, the latter that invested a small amount of capital in 2010. Medallia raised a total of $ 268 million in equity financing, including $ 70 million F series financing earlier this year.
Sequoia's 40% stake was over $ 1.8 billion at the highest price in Medalia on Friday.