- Notable tech IPOs from this year fall to or below IPO prices due to monetization and market concerns.
- Snap (NYSE:SNAP) debuted in March at $17 a share and shares are currently down 1.42% to $17.34.
- Investors have expressed concerns about Snapchat’s low membership numbers and ad revenue monetization.
- Data analysis software company Cloudera (CLDR -0.1%) went public in April for $15 a share and is now trading only slightly higher after a post-earnings fall last month.
- Enterprise cloud company Tintri (TNTR -3%) debuted last week at $7 after lowering the IPO price from the original $10.50 to $12.50. Shares have fallen to nearly even with that listing price.
- Tintri faces competition from Nutanix, which went public last year and currently sits above its $16 IPO price, and Pure Storage, now below its 2015 listing price of $17.
- IPO winner: Cloud management company Okta (OKTA -1.8%) listed in April at $17 and shares are currently over $22.
- Now read: Could Snap Map Cause More Drama Than Stories?
Original article