Public Markets

DocuSign And Smartsheet Price Above Range, Rise Sharply In First Public Trades

Morning Report: After raising their ranges, both DocuSign and Smartsheet priced their IPOs above those new bands. And then both companies shot higher in early trading.

It’s another good day for tech IPOs this quarter as DocuSign and Smartsheet both put impressive performances on the board.

DocuSign priced at $29 per share, above its raised, $26 to $28 per-share estimate. The company had previously expected to price between $24 and $26. The company is currently trading for $38.00, up around 31 percent from its offer price.

Smartsheet priced at $15 per share, above its second pricing guess of $12 to $14 per share. As with DocuSign, the company had initially expected a smaller, $10 to $12 share price range for its shares at the time of its public debut. The company is currently trading for $18.57, up just under 24 percent.

The two results may indicate wide appetite for technology shares among public investors. There is certainly money to be found as, per SiliconAngle, DocuSign raised “almost $630 million at a valuation of $4.4 billion” in its IPO, while Smartsheet will raise $174.5 million. (Those sums are inclusive of shares sold by parties other than the companies, and are exclusive of the underwriter’s option.)

That’s a lot of money that is now likely quite happy about early returns.

More on this year’s IPO cadence this week. For now, keep checking the results.

From The Crunchbase Daily:

DocuSign, Smartsheet price IPOs above range

  • It’s time for an IPO double header. E-signature pioneer DocuSign and collaboration software provider Smartsheet both priced shares for their initial stock offerings above their recently increased ranges. DocuSign raised over $600 million in the offering, while SmartSheet brought in $150 million.

Square buys Weebly for $365M

  • Payments provider Square is acquiring Weebly, a drag-and-drop website builder with a focus on e-commerce, for $365 million in cash and stock. Founded in 2007, San Francisco-based Weebly previously raised about $36 million in venture funding.

Here’s where San Francisco’s startup scene is headed

  • San Francisco is still a major hub for new startups, but seed activity is no longer in high growth mode, a Crunchbase analysis finds. Exits are the area heating up most.

Gen Z is shaping fintech’s future

  • Move over, Millennials. Fintech startups are increasingly looking for ways to woo Gen Z, the generation born after the mid-1990s that is known for its mobile-first approach to technology.

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

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