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HashiCorp Climbs in Debut After Above-Range $1.2 Billion IPO

  • Pandemic accelerated adoption of company’s open-source tech
  • Seattle classmates’ company now valued at $17 billion
Mitchell Hashimoto and Armon Dadgar
Mitchell Hashimoto and Armon DadgarSource: HashiCorp
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HashiCorp Inc. rose 6.5% in its trading debut after raising $1.2 billion in an initial public offering priced above a marketed range, adding to the year’s lengthy roster of software listings.

The San Francisco-based company, whose shares opened trading Thursday at $81.16, had sold 15.3 million shares for $80 after marketing them for $68 to $72. The shares closed at $85.19, giving the company a market value of almost $15 billion. Accounting for employee stock options and restricted stock units, the company has a fully diluted value of more than $17 billion.