Affirm shares almost double in debut after US$1.2B U.S. IPO
Crystal Tse, Bloomberg News VIDEO SIGN OUT
Affirm Holdings Inc. almost doubled in its public market debut, the latest multibillion-dollar technology company to start trading significantly higher than its initial public offering price.
Shares of the San Francisco-based company, which provides installment loans to online shoppers, closed up 98 per cent to US$97.24 in New York trading after rising as much as 110 per cent earlier Wednesday. The company sold 24.6 million shares at US$49 each in Tuesdayâs IPO to raise US$1.2 billion, pricing the stock above a range that had already been increased.
Affirm Holdings Inc. almost doubled in its public market debut, the latest multibillion-dollar technology company to start trading significantly higher than its initial public offering price.
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mcnicholas joins us. every once in a while you win big. case in point, light speed ventures. a venture capital firm that invest money in startups like playdom, both involved in online gaming. not the shoot them up games that most people think of when they think video games but the new trendy slower paced games like sorority life played on social networks, facebook in particular, they attract millions of players every month. what a venture capital firm wants is a payoff to make its investment public or sell it to a large company. that s what happened to the startups. the big playoff, playdom went to disney for a deal worth at the top end, $763 million. 763 million smiles for jeremy liew. jeremy liew is managing partner at light speed ventures. he s a frequent columnist to the wall street journal and techcrunch. tom giles is with bloomberg business week and kim mcnicholas with forbes. i say $763 million give or take a bit. that s the high end number. there were several vent