Wednesday, November 15, 2017

SendGrid Sees Pop In IPO Debut

SendGrid, the email infrastructure and back-end services provider which has offices and was founded in Orange County, had its IPO debut this morning, and began trading on the New York Stock Exchange today as SEND. The company priced its IPO at $16.00 per share last night, above its initial estimated IPO range of $13.50 to $15.50 per share. The company is now trading up around $18.50 in its initial few minutes of trading. Sendgrid's co-founder, Isaac Saldana, is based in Orange County and the company currently has substantial operations in Irvine. SendGrid is venture backed by Bain Capital Ventures, Bessemer Venture Partners, Foundry Group, and Highway 12 Ventures. The IPO was underwritten by Morgan Stanley, JP Morgan, William Blair, KeyBanc Capital Markets, Piper Jaffray, and Stifel.

---