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IPO Watch: Zuora Soaring, So What Is It?

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Zuora Inc's (ZUO) debut trading turned heads as trading started at 43 percent above its IPO price. The initial public offering was at $14 and the first trading was at $20 for 2.06 million shares. The project debut range was $11 to $13. The shares climbed up to $21.67 and retreated to close at $20.00.

On Friday, the cloud software company's shares started at $19.80.

The company established in 2006, had raised around $154 million by selling 11 million class A common shares at $14 per share.

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC were acting as the joint lead book-runners for the Silicon Valley - based company's offering.

Dropbox Inc. (DBX), another Cloud software company, that went public on March 23 debuted at $29 and surged to more than $32 on April 11.

by RTTNews Staff Writer

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