SolarWinds, an Austin IT management software company, saw its shares rise slightly after debuting on the public market Friday.
The company, which trades as SWI on the New York Stock Exchange, opened at $15 per share and rose to $15.41 per share in early trading before falling slightly midday. The pricing means SolarWinds is valued at about $4.8 billion, according to Reuters.
Though not as well known as some of the Silicon Valley companies heading toward IPOs, SolarWinds IPO is part of a larger wave of tech companies headed to the public markets. In Austin, Dell Technologies is also milling an IPO -- as is dating and networking app Bumble and cooler company Yeti.
The IPO is a major milestone for SolarWinds. The company had previously traded on the public market, but it was taken private by Thoma Bravo and Silver Lake about two and a half years ago to transform its business. SolarWinds was able to ilncrease its non-GAAP revenue by 17 percent last year, and it reported about $800 million in the 12 month span that ended June 30, 2018.
SolarWinds offering opened on Thursday and closes Oct. 23.
The company put on a show in New York to celebrate the offering. Here's a look from Twitter:
?@solarwinds really knows how to get an IPO started pic.twitter.com/QMJFtsZB3l
— NYSE (@NYSE) October 19, 2018
#SWINYSE2018 has taken over #TimesSquare #dontcallitacomeback @solarwinds @SolarWindsMSP pic.twitter.com/y6aRavYBp1
— Kimberly Starr Willard (Cecchini) (@KstarrPR) October 19, 2018
