Thursday, September 21, 2006

Riverbed Technology Leaps in IPO: Yahoo! Finance

"Shares of Riverbed Technology Inc. soared Thursday in their trading debut.
The San Francisco-based company, which makes network infrastructure products for computer systems, saw its stock rise $5.55, or 57 percent, from the IPO price to close at $15.30 Thursday on the Nasdaq Stock Market."

"Riverbed has experienced massive growth this year. Its revenues in the six months to June 30 were $31.8 million, up from $5.2 million in the same period a year earlier, while its customer base has grown from 500 in January this year to more than 1,000 at the end of June."

Notes: Cocked, loaded, and ready to explode - that's what the market is saying about Riverbed and the WAN optimization market, which has been a hotly acquisitive space recently (Citrix / Orbital Data; Cisco / FineGround, Juniper / Peribit, etc.). Riverbed's performance today is testament to the company's future growth potential and the white hot growth in the market. Investors that made out include Accel, Goldman, Lightspeed, UV Partners, and Meritech. Company was founded in Dec 02 and only raised $56M of capital. Last round raise was $300 post in Feb of this year by Meritech, the sole investor in that mezzanine round.

Other Sources:
Riverbed Prices IPO Houston Chronicle
Riverbed floats on Nasdaq Computing
Riverbed Soars on Debut Light Reading

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