Zendesk Grown 27% at the Firsy Day of Trending With $100M IPO

This is the first time, when a company grown this much at the first day of trending, Yes  a cloud based contact center and other business support help desk Zendesk just went public yesterday at the New York Stock Exchange with $9 per share but with a boost of company funding of $100 million, it open 27% higher at the $11.40 on its first trade but this growth has gone far more than expected because the growth is keeps maintain as the day went on. The closing market has brought a total 49% of growth from its standing price and closed at $13.65 on share. It makes the total value of company; about $940 to $950 million approximately, as $9 per share for 11,111,111 Share Company offering and this was expected projection from the company. 

TechCrunch Says“Zendesk says it has some 42,000 customer accounts from 140 countries at the moment and has been growing quickly. Revenues in 2013 were $72 million, up 88% on a year before. The first quarter of 2014 to March 31 saw sales of $25.1 million, up 80% on the same quarter a year ago. We intend to invest aggressively to drive continued growth and market leadership,”

The Zendesk had a huges loss last year about $22.6 million and in 2011 it was $20 million and in Q1 of 2014 was not good with $10.3 million loss. But as they go public, firm has seen a huge growth since last month but not focused on a net income. The software industry now based on Cloud business. Also they acquired a chat based company in Singapore Zopim for $30 million.As they raised $100 million so with $9 per share it will be about $632 million. The firm was previously founded Denmark but recently they moved to San Francisco and partnered with the some of the biggest corporations currently.