Marketo’s IPO raises US$79m, shares up almost 78pc

20 May 2013

Cloud-based marketing software provider Marketo went public on Friday with a highly successful market debut.

NASDAQ welcomed MKTO to trading on 17 May, as Marketo Inc released 6.1m shares at US$13 each. The company’s share price reached a high of US$23.37 before closing its first day of trading at US$23.10 – up almost 78pc.

The company, based in San Mateo, California, and with its EMEA headquarters in Dublin, raised US$79m through its IPO, which comes one year after 2012’s most high-profile tech IPO.

Compared to Facebook’s IPO, which was said to be the worst in a decade, Marketo’s initial public offering has been a resounding success and the day’s trading also saw data visualisation software firm Tableau Software go public, its shares rising more than 63pc, raising US$254m for the firm.

Shares in Facebook, on the other hand, are still down 30pc since the social network first went public at US$38 a share on 18 May 2012.

Elaine Burke is the host of For Tech’s Sake, a co-production from Silicon Republic and The HeadStuff Podcast Network. She was previously the editor of Silicon Republic.