CafePress IPO "Successful"

Print some mugs with "successful IPO," CafePress.

By Chris Roberts
|  Thursday, Mar 29, 2012  |  Updated 3:42 PM PDT
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CafePress IPO "Successful"

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CafePress, the Web that allows consumers to produce mugs, t-shirts and mousepads -- say, does anyone still use mousepads? -- with their own design, slogan, or phrase printed on them, went public on Thursday, with "mildly successful" results, according to the hard-to-please San Jose Mercury News.

The San Mateo company's IPO offered shares at $19 apiece, higher than initially anticipated, the newspaper reported. Shares sold at a high of $21.50 before settling at $20.12, the newspaper reported.

The company has been "steadily profitable" since its founding in 1999, with profits in the low millions on $175.5 million in revenue in 2011, and $127.9 million in 2010. The company has production facilities on both coasts and in Kentucky.

About 4.5 million shares were sold on Thursday, with the company selling 2 million to raise working capital, the newspaper reported.

CafePress is trading on the Nasdaq under the ticker symbol PRSS, the newspaper reported.

Other technology stocks are expected to hit the market soon, with the big one being Facebook.
 

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