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Tuesday, December 13, 2011

Jive stock prices rose december 13 2011

Jive stock prices rose december 13 2011 : Jive Software Inc., the maker of social-networking software for businesses, raised $161.3 million in its initial public offering, 38 percent more than first sought, after pricing the shares above the marketed range.

The company sold 13.4 million shares at $12 apiece, according to a statement yesterday. Jive, based in Palo Alto, California, had planned to offer 11.7 million for $8 to $10 each, regulatory filings show. The stock will trade on the Nasdaq Stock Market as of today under the symbol JIVE.

Jive is one of 11 companies seeking to raise $3.8 billion in IPOs this week, the most since March. Its software lets employees collaborate on projects and communicate with customers. Revenue at the company, which counts NetApp Inc. (NTAP), Avon Products Inc., Yum! Brands Inc. and Nike Inc. among its clients, has surged in the past three years as workers seek the kind of social-networking features they get from Facebook Inc. and Twitter Inc. for corporate use.

“Consumers have led this generation of technology and enterprises are now being forced to catch up,” said Trevor Loy, a general partner at Flywheel Ventures in Santa Fe, New Mexico, which owns Jive shares and didn’t plan to sell in the IPO. “The story of Jive is just now being heard by mainstream enterprise customers.” For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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