Infinera, optical networking company, sees strong IPO debut
Sunnyvale’s Infinera, the optical networking company, saw its initial public offering skyrocket today, its stock price jumping to $19.70, from a pricing of $13.
That’s more than a 50 percent increase.
This gives it a market value of about $1 billion. Not bad for a company that has seen its losses mount.
The company had raised over $336 million in total funding since 2000, and so this is a bit win for major shareholders, which include Advanced Equities, Kleiner Perkins and Mobius Venture Capital .
We’ve written several times about this company. Most recently, we noted it had planned its IPO price to be $10 at low end, so this jump today is a coup for them.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
