JFrog IPO Raises $509 Million, Stock Jumps

JFrog (FROG) stock jumped by double digits as trading began Wednesday, raising $509 million with an initial public offering that exceeded expectations for the developer of software tools. The JFrog IPO is one of several large public offerings this week.




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The company priced 11.6 million shares at $44, well above the estimated range of $39 to $41. The JFrog IPO gave it a market valuation of about $4 billion.

JFrog stock soared 47.3%, closing at 64.79 on the stock market today/

JFrog’s leading product is designed to enable organizations to continuously deliver software updates across any system. Also, it provides a bridge between software development and deployment. It uses a software-as-a-service business model.

Also, Dell Technologies (DELL) is an investor in the company, with a 9.3% stake.

Strong Interest In JFrog IPO

According to IPO Boutique, a research and advisory from, the JFrog IPO was “multiple times oversubscribed,” suggesting the demand for shares was much higher than what was being made available.

For the six-month period ended June 30, JFrog reported revenue of $69.25 million, up 50% from the year-ago period. It posted a net loss of $426,000, vs. a $2 million loss in the year-ago period, according to the JFrog IPO filing.

The company says it has 5,800 customers. JFrog is one of several high-profile companies that will make their public debut via an IPO this week.

Among them is Snowflake (SNOW), which surpassed heightened expectations with an initial public offering that raised $3.4 billion. That set a record as the largest U.S. software deal ever. Snowflake stock soared 111.6%, closing at 253.93.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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