Bazaarvoice made some newly minted Austin millionaires today.
The social media marketing company stock debuted on the Nasdaq, priced at $12 a share, Friday morning and rose as high as 41 percent to $17.16 in the afternoon.
The stock, traded under the stock symbol BV, opened at $15.77 a share, up 33 percent, when trading began. The company raised $114 million in its initial public offering. Check Yahoo Finance for its most recent trading activity.
It’s Austin’s first IPO for a tech company this year.
Bazaarvoice provides online social marketing services and software to companies. It helps companies capture and display reviews on their websites and promote their brands online. Its customers include Cabela’s, Footlocker.com, Petco, Sephora USA, LG Electronics, Microsoft, Philips Consumer, Proctor & Gamble, Newell Rubbermaid, Orbitz and USAA, among others. The company reported revenue of $64.5 million in 2011 and a net loss of $20 million.
Bazaarvoice has raised $20 million in venture capital from Battery Ventures, First Round Capital and others, according to TechCrunch.
Bazaarvoice stock soars in its first day of trading
February 24, 2012 by 1 Comment