Payments startup Marqeta valued at over US$17 billion in Nasdaq debut Toggle share menu
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Payments startup Marqeta valued at over US$17 billion in Nasdaq debut Shares of Marqeta Inc, which counts Uber Technologies Inc and hedge fund Coatue among its investors, rose more than 20per cent in their Nasdaq debut, giving the payments startup a market capitalization of over US$17.2 billion.
Marqeta logo is seen on a smartphone in front of displayed stock graph in this illustration picture taken June 9, 2021. REUTERS/Dado Ruvic/Illustration
09 Jun 2021 10:55PM (Updated:
10 Jun 2021 01:05AM) Share this content
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REUTERS: Shares of Marqeta Inc, which counts Uber Technologies Inc and hedge fund Coatue among its investors, rose more than 20per cent in their Nasdaq debut, giving the payments startup a market capitalization of over US$17.2 billion.
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Marqeta logo is seen on a smartphone in front of displayed stock graph in this illustration picture taken June 9, 2021. REUTERS/Dado Ruvic/Illustration
Shares of Marqeta Inc (MQ.O), which provides payments services to customers including Uber Technologies Inc (UBER.N) and DoorDashInc, rose more than 20% in their Nasdaq debut, giving the firm a market capitalization of over $17.2 billion.
The financial technology startup s stock opened at $32.50 on Wednesday, compared with its initial public offering (IPO) price of $27 per share. Marqeta s IPO was priced well above its target price range of $20 to $24 per share.
The Oakland, California-based company sold 45.45 million shares in its IPO, raising about $1.2 billion. It had previously been backed by investors including Uber, Goldman Sachs Group Inc and Visa Inc (V.N).