Silicon Valley-backed Apptio's shares surge after it raises $96M in IPO
Shares of Apptio, backed by Silicon Valley investor who include Andreessen Horowitz and Greylock Partners, soared on Friday after the Bellevue, Washinton IT management software company raised $96 million in an IPO.
The sold its shares at $16, above the $13 to $15 per share range the company identified earlier this month. It rang the bell to open the day at Nasdaq, where it is trading under the symbol APTI.
Founded by CEO Sunny Gupta in 2002, Apptio creates IT management software and helps companies...