While most other tech IPO’s launched to disappointing or delayed rewards, Fastly, a Software as a Service provider, didn’t disappoint in its debut on the NYSE.
The company opened trading at $21.50, and ended the day at $23.99, a 60% uptick from its opening price and well above the $16 a share it was offering for its 11.25 million shares.
The company is currently valued at $2.2 billion.
Fastly (ticker symbol: FSLY) lost $31 million on revenues of $145 last year. The year before it lost $32 million on $105 million in revenues.
Fastly follows less than successful tech IPOs such as ridesharing services Lyft and Uber, plus slow starter Pinterest, which gained traction after a middling debut. Teleconferencing company Zoom had the years’ strongest IPO launch so far.