SimilarWeb Debuts on New York Stock Exchange
Fintech firm SimilarWeb opened below its suggested price of $22 per share, but rose in the afternoon.
Author:
May 12, 2021 3:54 PM EDT
Shares of Israeli fintech firm SimilarWeb were up and down after the stock opened at $20.76 on the New York Stock Exchange Wednesday afternoon.
The company's $176 million initial public offering had been priced at $22 per share, above its $19 to $21 offering range.
SimilarWeb shares fell as low as $19.75 Wednesday but were trading as high as $21.76 in the afternoon.
The company analyzes financial data from billions of interactions across websites and apps and provides insights.
The Tel Aviv company grew revenue by 32% in 2020 to $93.5 million. The company had a net loss of $22 million last year. The company says it sees a market opportunity of $34 billion.