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.