Deals
Customer Engagement Firm Braze Jumps After $520 Million IPO
- CEO credits first-day gain of 44% to roadshow going well
- Braze reaches diluted value of more than $9.6 billion
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Customer engagement software maker Braze Inc. rose 44% in its trading debut after an initial public offering that priced above the marketed range to raise $520 million.
The company’s shares, which sold for $65 in the IPO, closed at $93.39 in New York trading Wednesday, giving Braze a market value of $8.4 billion. Accounting for employee stock options and restricted stock units, the company has a fully diluted value of more than $9.6 billion.