Still, Coupa net loss widened in fiscal 2016, which ended in

Coupa Software shares soar 85 percent in market debut

maker of cloud based software that helps companies manage spending, surged 85 percent in Canada Goose Outlet their debut on online website cheap Canada Goose Thursday, as investors showed renewed appetite for IPOs by venture backed tech companies.

Coupa shares closed trading at $33.28 on the Nasdaq, valuing canada goose outlet toronto factory the company at 2018 canada goose outlet $1.6 billion.

The offering of 7.4 million shares was priced canada goose store at the top end of the expected range of canadian goose jacket $16 $18, raising about $133 million for the San Mateo, California based company.

The software company customers include office supply retailer Staples Inc and Canada Goose Coats On Sale credit card canada goose deals issuer Capital One Financial Corp. Still, Coupa net loss widened in fiscal 2016, which ended in January.

Its IPO came less than canada goose clearance a week after shares of data storage canada goose coats provider Nutanix Inc, which also has yet canada goose to make a profit, soared 130 percent in their debut.

Coupa Chief Executive Canada Goose Jackets Officer Rob Bernshteyn said in an interview that now the company will look to expand into Asia, Canada, Latin America and Australia. interest rates and Britain referendum on its membership in the European Union.

Interest in the IPO showed public investors growing canada goose replica more willing to bet on companies with potential.

investors are very thirsty for a return and if they think they can get it on IPOs you see demand canada goose coats on sale surge for IPOs, said Glenn Solomon, managing partner at GGV Capital. technology IPO market canada goose clearance sale has raised just over $2.3 billion so far this year, about half the Canada Goose online $4.56 billion raised a year Canada Goose Online ago.

A flood of private funding has helped many Silicon Valley startups achieve $1 billion plus valuations in the past few buy canada goose jacket cheap years. Profitability has not been a requirement for joining the so called club.

Companies that go public have fared well.

Shares of software maker Twilio Inc, which also is not profitable, are trading nearly four times above their June IPO price.

Bernshteyn declined to comment on when Coupa expects to become profitable. The company said its net and comprehensive Canada Goose Parka loss widened to $46.16 million in fiscal year 2016 from $27.3 million a year earlier, although annual revenue jumped 65 percent to $83.68 million Canada Goose sale in the canada goose outlet store locations year ended January.

Reporting by Richa canada goose black friday sale Naidu buy canada goose jacket in Bengaluru and Liana B. Baker in New York. Additional reporting by Lauren Hirsch, Heather Somerville and Sruthi Shankar; Editing by Ted Kerr and David Gregorio.

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