There was clearly demand for a new technology company to go public on NYSE, as Trulia’s stocks jumped over 40% on the first day of trading. Pete Flint and Sami Inkinen, co-founders of the company, together with their entourage was present at the event. Accel Partners was also keen on celebrating the success as they still hold on to 19% of the company while not selling any shares in the IPO.
We seldom get to write these kinds of stories, but what a day it was. The stock opened already north of the issuance price of $17 at about $22. It later continued the climb to peak at $25.20 and closed the day at $24.00 totaling a 41.18% increase.
Over a 40% increase in market cap translates to more than $180 million in added valuation for the company. At the issuance price of $17, the company was valued at $449 million. A great day indeed.
Trulia also chose NYSE over Nasdaq, which saw troubles with the Facebook IPO where trading was delayed for more than 30 minutes. Nevertheless, Trulia is definitely one of the most successful technology IPOs this year, based on the success of their first day of trading.
Trulia trades under the ticker symbol TRLA.
Sami Inkinen will be speaking at Arctic15 in less than a month’s time. I’m sure he will be talking about the IPO experience, so make sure to get your tickets!