Investors aren't waiting for Twitter; they're already pouring money into another Silicon Valley IPO. Scott Budman reports.
Investors aren't waiting for Twitter; they're already pouring money into another Silicon Valley IPO.
As we await Twitter's final pricing, Barracuda Networks is stoking Bay Area IPO interest, popping by about 20 percent on its first day of trading. It even rang the bell on the NYSE wednesday morning.
Most of the tech IPO attention lately has been focused on Twitter, and for good reason: The road show was a hit, the price target has already gone up, and Twitter is flat out one of those sexy tech companies people love to invest in.
But don't sleep on Barracuda. The company (CUDA) is getting a lot of investor interest itself, located firmly in the hot security and cloud space, racking up customers for a decade.
Nestled in Campbell, Barracuda is rewarding employees and investors who patiently waited for it to go public. Today is their day, and there are a lot of smiles around company HQ.
Scott is on Twitter: @scottbudman