• Elastic's Soaring IPO Stretches Valuation to $4.9 Billion

    17 days ago - By Fortune

    The standout winner on a tough day for tech stocks Friday was a Dutch-based IPO which supplies search and data software to companies ranging from Credit Suisse and Accenture to Tinder and Uber.
    Elastic NV almost doubled in value on its first day of trading in New York, closing at $70 compared with an initial price of $36. The company raised $252 million and ended the day with a market cap of almost $4.9 billion.
    It's the year's top-performing first-day IPO in the U.S. after Zscaler, which more than doubled on its first day. Zscaler is now up 131 percent since debuting in March.
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