Business

Marketing automation firm Marketo shares jump 55% in energetic IPO

Marketing automation business Marketo made its debut on the Nasdaq stock exchange today, and early trading looks strong, with shares up 55 percent over initial pricing.

Last night, the company priced 6.1 million shares at $13 — the high end of its $11-to-$13 range — and ended up raising $79 million. As of this writing, the stock is trading at over $20 a share.

Marketo and competing marketing automation firms like Eloqua, Pardot, and Silverpop offer software and services focused on improving and managing sales lead generation. The company purchased social campaign service Crowd Factory a year ago to help with its mission and to reach more consumers.

Back in early April, Marketo filed for a $75 million IPO. Prior to the IPO, San Mateo, Calif.-based Marketo raised $108 million in VC funding from big players including Battery Ventures, Institutional Venture Partners, InterWest Partners, Mayfield Fund, and Storm Ventures.

Big data business Tableau Software also had its IPO today and shares popped 60 percent in early trading. Today is clearly a good day for enterprise tech IPOs.

Marketing concept via Shutterstock


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