Morning Report: After pricing above its raised range, Pluralsight priced at $15 per share. Its first day is going well.
Today we close our coverage of Pluralsight’s transition from private to public company. From its S-1 filing to its first pricing range, to its raised range, the company had a good run with seemingly strong momentum. That carried through to its first day of trading.
Last night, the cloud technical learning provider priced its shares at $15 apiece, ahead of its raised $12 to $14 range. Pluralsight had originally targeted a $10 to $12 range. So, from the bottom of its first range to the final value of its IPO equity, Pluralsight raised its sights by 50 percent.
The company is adding to those gains in its first trading day. As of the time of writing, Pluralsight is up 34.5 percent, according to MarketWatch. The company has traded up all day, demonstrating healthy demand for its shares on the public market.
The company’s exit not only marks yet another unicorn exit but a success for the growing Utah startup scene.
2018 is welcoming companies of all sorts to the public markets as investors continue to pour nine-figure sums into late-stage startups. The wager, it seems, is that startups will still be able to climb through the IPO window in a few years.
The Nasdaq is over 7,000 and even companies with overly-generous cohort analyses can go public. As always, we wonder how long that will be the case.
From The Crunchbase Daily:
Technical learning provider Pluralsight priced shares for its initial public offering at $15 each, above the recently raised range. The IPO raised over $300 million for the Farmington, Utah-based company.
A raft of companies with a shared and temporary housing focus have raised funding in the past year or so. Most are operating in high cost housing markets, targeting working professionals willing to accept less private living space in exchange for a choice location, easy move-in, and a ready-made social network.
OpenClassrooms, a Paris-based online education platform, has raised $60 million in a new round led by General Atlantic. With the new funding, the company plans to dramatically ramp up enrollment and programs, as well as expand internationally.
Funding for fitness startups reached a record high both in the U.S. and globally in 2017. Fueling the rise are a host of startups that are trying to get people to go to the gym and stick to it.
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