Glu Mobile, the San Mateo, Calif. mobile game publisher, begins IPO trading today.

It sold 7.3 million common shares, and they begin trading today at $11.50 per share. The company raised about $84 million, and is valued at $327 million.

Venture investors New Enterprise Associates, BA Venture Partners, Globespan Capital Partners, Granite Global Ventures and Sienna Ventures backed the company with about $57 million.

The company is still losing money.